By Sodiq Adelakun The latest figures from the Central Bank of Nigeria revealed that currency outside banks rose to N2.26trillion at the end of June 2023. According to figures obtained from CBN, the currency outside banks rose by 185.68 per…
The President, Bola Tinubu, has appointed a special investigator to probe the Central Bank of Nigeria. In a letter dated July 28, 2023, the president named the Chief Executive Officer of the Financial Reporting Council of Nigeria, Jim Obazee, as…
The Central Bank of Nigeria said it has achieved 64.1 per cent financial inclusion. It also said it was targeting 95 per cent inclusion by 2024. The Assistant Director, of Financial Development, of CBN, Paul Oluikpe, while speaking at an…
By Sodiq Adelakun The World Bank has raised concern over government borrowing from the Central Bank. World Bank Group urged Nigeria to reduce government’s borrowing from the Central Bank if it wants to reduce the inflationary pressure on the economy.…
The Central Bank of Nigeria (CBN) has pegged the amount of dollars to be transacted on the Pan-African Payment and Settlement System (PAPSS), at $200,000 per quarter by authorised dealer bank (ADB) and $20,000 per quarter for a customer. This…
The Central Bank of Nigeria has ordered that the four-hundred and forty individuals and businesses’ bank accounts that were placed under a post-no-debit restriction, be removed by banks. The businesses affected by this instruction include Bamboo Investment, AbokiFX and NairaBet.…
By Sodiq Adelakun The acting Governor, Central Bank of Nigeria, Folashodun Shonubi, has said the bank will address the demand pressure on the country’s exchange rate, as the naira continued to slide against the dollar. He gave the assurance while…
The Central Bank of Nigeria (CBN) has raised its benchmark interest rate, known as the Monetary Policy Rate (MPR), by 25 basis points to 18.75 per cent. The decision was announced on Tuesday by Acting Governor of the CBN, Folashodun…
By Sodiq Adelakun Naira yesterday appreciated against the dollar across foreign exchange (FX) market as demand for the greenback moderated. In some FX trading areas across the country on Wednesday, naira steadied at N867 per dollar. In some other areas…
The Central Bank of Nigeria (CBN) has disbursed N9.714 trillion in financial interventions to different sectors of the economy in the last three years. Director, Development Finance Department (DFD) of the CBN, Mr. Yusuf Yila who made the disclosure, said…
