Following the immediate suspension of the Central Bank of Nigeria Governor, Godwin Emefiele, from office, his Deputy (Operations Directorate) Folashodun Adebisi Shonubi, has been announced to act in his capacity in the meantime. President Bola Tinubu, on Friday night suspended…
The Federal Government recorded N930.8 billion fiscal deficit in January and February 2023 according to the Central Bank of Nigeria (CBN). The CBN stated in its monthly economic report for February 2023 that, “The estimated overall fiscal deficit of the…
Nigeria’s electricity export crashed by $58.1m in one year amid grid collapse. Data from the Central Bank of Nigeria (CBN) showed that the value of Nigeria’s electricity export was $213.66 million in 2021 but dropped to $155.56 million in 2022.…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has confirmed the appointment of Dr. Isa Abdulmumin as its Substantive Director, Corporate Communications. Abdulmumin was in February appointed the Acting Director of the department, taking over from Mr Osita Nwanisobi,…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has refuted claims that the apex bank devalued the naira to N631/$1 in an effort to unify the exchange rate. This came after unverified reports from a newspaper (not Nigerian NewsDirect) …
e Central Bank of Nigeria (CBN) has debunked a report by a national daily that it has devalued the naira to N631 per dollar at the Importers and Exporters’ (I&E) window. A top official of the apex bank, who told…
Barely two weeks ago the Central Bank of Nigeria (CBN) hit its hammer by revoking the operating licences of about 132 Microfinance Banks (MfBs), four Primary Mortgage Banks and three Finance Companies across the country for the failure to meet…
The Federal Government borrowed N6.07trillion from the Central Bank of Nigeria (CBN) through Ways and Means Advances in 2022, according to recent data from the apex bank. This pushed the Federal Government’s borrowing from the CBN from N17.46trillion in December…
The Central Bank of Nigeria (CBN) has commended the West African Institute for Financial and Economic Management (WAIFEM) for its debt management support to Nigerian states. Emefiele gave the commendation on Tuesday in Abuja, at a Sub-national Debt Management Performance…
By Sodiq Adelaku President Tinubu has said he will review the naira redesign policy of the CBN. This may see the old naira notes remaining legal tender for a longer time than December 31 as declared by the Supreme Court.…
