Nigeria’s capital inflow declined to $1.63 billion in November 2024, marking a 13.8% drop from October’s figure of $1.89 billion. This is according to the Central Bank of Nigeria’s (CBN) Economic Report for November 2024. The decrease was driven by…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) intervened in the foreign exchange market with the sales of $66 million to authorised dealer banks. Due to supply side shortfall, the naira has been under pressures for two weeks after…
The Central Bank of Nigeria (CBN) has said over the weekend that the new policy on cash withdrawal from Automated Teller Machines (ATMs) would benefit banks and their customers. The CBN said on Tuesday customers withdrawing cash from other banks…
The Central Bank of Nigeria (CBN) conducted another Open Market Operation (OMO) auction on February 13, 2025, attracting significant investor participation. Total subscriptions reached N1.915 trillion, indicating continued confidence in CBN’s liquidity management instruments. However, compared to the January 31,…
The Socio-Economic Rights and Accountability Project (SERAP) has issued a 48-hour ultimatum to the Central Bank of Nigeria (CBN), demanding the reversal of the recent increase in Automated Teller Machine (ATM) transaction fees. The advocacy group insists that the new…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has threatened to penalise banks that compel customers to withdraw amounts lower than N20,000 per transaction from Automated Teller Machines (ATMs). The apex bank gave the warning in a “Question and…
In light of growing operational costs, the Central Bank of Nigeria (CBN) has put an end to free ATM withdrawals at banks other than the card-issuing bank. This move comes amidst rising financial pressures and aims to streamline the costs…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has rescheduled the 299th meeting of its Monetary Policy Committee (MPC). The apex bank shifted the meeting which was initially scheduled for February 17 and 18 to February 18 and 19.…
The Central Bank of Nigeria has postponed its first Monetary Policy Committee (MPC) meeting for 2025 to March, following delays in the release of the rebased Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS). Sources within…
The naira appreciated further in the parallel market, popularly called black market, on Thursday, a day after the Central Bank of Nigeria (CBN) issued new directives on the purchase of dollars by the Bureau De Change (BDCs). The naira strengthened…
