The Central Bank of Nigeria (CBN) has disclosed that Nigeria’s money supply increased to N66.42 trillion in the month of September 2023, a marginal growth of about 1.94 per cent from N65.15 trillion in August 2023. The figures come from…
By Sodiq Adelakun The Federal Government’s debt to the Central Bank of Nigeria (CBN) has decreased to N4.36trillion after a significant portion of it was restructured in June 2023, according to provisional data from the CBN’s quarterly statistical bulletin for…
By Sodiq Adelakun Starting from November 1, 2023, banks in Nigeria will face sanctions from the Central Bank of Nigeria (CBN) if they reject the ‘Magnetic Ink Character Recognition line’ (MICR Line) in cheque transactions. This announcement was made by…
By Sodiq Adelakun In a recent revelation, prominent human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has shed light on the Central Bank of Nigeria’s (CBN) currency redesign policy. The implementation of this policy, aimed at phasing out…
By Sodiq Adelakun The Naira experienced a slight appreciation to N764.86/$1 at the close of business on Friday following the Central Bank of Nigeria’s announcement of lifting forex restrictions on 43 items. This positive development was revealed by FMDQ exchange…
A public affairs analyst, Sam Amadi, on Friday, described former President Muhammadu Buhari’s eight years as a disaster. The Director of the Abuja School of Social and Political Thoughts, said it would take a very long time for Nigerians to…
…Promises to boost liquidity to ensure stability of prices By Matthew Denis The Central Bank of Nigeria (CBN) has restored access to forex to importers of rice, palm oil and 41 others items earlier prohibited. This was disclosed in a…
By Sodiq Adelakun In an effort to alleviate demand pressures and ensure exchange rate stability, the Central Bank of Nigeria (CBN) has continued its intervention in the foreign exchange market, according to the half-year financial markets report. The apex bank…
By Sodiq Adelakun The Nigerian Export Supervision Scheme (NESS) has recently seen the addition of three new banks appointed by the Central Bank of Nigeria (CBN) for fee collection purposes. The newly appointed banks are Coronation Merchant Bank Limited, Paralex…
The Central Bank of Nigeria (CBN) has denied claims made by the media that the launch of the eNaira is endangering the country’s financial stability. In a statement released on Monday in Abuja, Dr Isa AbdulMumin, the Director of Corporate…
