The expenditure of the Nigerian Federal Government declined to N1.3 trillion according to a report released by the Central Bank of Nigeria (CBN). According to the latest monthly economic report from the CBN, the federal government’s aggregate expenditure declined modestly…
By Sodiq Adelakun In a proactive move to gauge the severity of cash scarcity in Nigeria, the Central Bank of Nigeria (CBN) has rolled out a nationwide survey just four days before Christmas. The survey, which was disseminated through the…
By Sodiq Adelakun Banks in Nigeria are increasingly relying on the Central Bank of Nigeria (CBN) for liquidity, as evidenced by a significant increase in borrowing from the apex bank’s Standing Lending Facility (SLF). In November 2023, borrowing from the…
By Sodiq Adelakun The average net liquidity of banks dropped to N300.68 billion in August 2023, down from N562.04 billion in the previous month, according to a report from the Central Bank of Nigeria (CBN). This decrease in liquidity was…
The Association of Chief Audit Executives of Banks in Nigeria has called for stricter regulations of the fintech space as well as the operations of the Bureaux de Change. The association also hailed the Central Bank of Nigeria over its…
…Declares N18.8billion as total trade balance in Q3 2023 The Central Bank of Nigeria (CBN) has lowered expectations for revenue from oil exports in 2024. This is coming a day after the Group Chief Executive Officer (GCEO) of the Nigerian…
The Central Bank of Nigeria (CBN) has reassured Nigerians of enough Naira notes in circulation, to cater for their cash needs. CBN’s Acting Director, Corporate Communications, Mrs Hakama Ali, gave the assurance in a statement on Wednesday. There have been…
By Sodiq Adelakun The Central Bank of Nigeria has suspended the processing fees on large cash deposits, a release by the Acting Director of Supervision, Dr Adetona Adedeji, on Monday revealed. The new development under the “Guide to Charges by…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has refuted claims that certain Nigerian banks have failed to meet the capital adequacy ratio. Earlier reports had indicated that approximately eight banks with international authorisation were below the regulatory threshold…
The Central Bank of Nigeria (CBN) says media reports listing banks as failing the Capital Adequacy Ratio (CAR) stress test for international authorisation are false and should be disregarded. The Acting Director, Corporate Communications, Mrs Hakama Sidi Ali, said in…
