By Esther Agbo The Central Bank of Nigeria (CBN) is facing renewed pressure from the nation’s manufacturing sector as the Manufacturers Association of Nigeria (MAN) calls for a relaxation of stringent foreign exchange policies that have increasingly burdened local industries.…
The Central Bank of Nigeria (CBN) has lifted the suspension on banks borrowing from its window, known as the Standing Lending Facility (SLF), pegging the lending rate at 31.75 percent in response to the decisions made at the 296th meeting…
The Central Bank of Nigeria (CBN) plans to reissue Nigerian Treasury Bills (NTBs) worth N2.2 trillion in the fourth quarter of 2024, according to the newly released 2024 Issue Calendar obtained by Nigerian NewsDirect. This re-issuance is part of the…
The Central Bank of Nigeria (CBN) has increased the rates for the Standing Deposit Facility (SDF) as part of its ongoing efforts to manage liquidity in the financial system. This decision was detailed in a circular issued on August 26,…
By Esther Agbo The Federal Government’s fiscal deficit reached N824.79 billion in April 2024, reflecting a slight increase from the N823.91 billion recorded in March. This development was highlighted in the Central Bank of Nigeria’s (CBN) latest Monthly Economic Report,…
By Esther Agbo The Central Bank of Nigeria (CBN) has reported a remarkable surge in diaspora remittances, with inflows reaching an unprecedented $553 million in July 2024. This figure marks a 130 percent year-on-year increase from July 2023, showcasing the…
By Esther Agbo Nigeria’s foreign exchange reserves have experienced a notable decrease, shedding $342.97 million in just nine days, according to the latest data released by the Central Bank of Nigeria (CBN) recently. The reserves now stand at $36.53 billion,…
Economic activities in Nigeria fell for the thirteenth month in July as high costs reduced new orders and employment declined, Central Bank’s Purchasing Managers’ Index showed According to the report released Wednesday, the composite PMI stood at 49.7 points indicating…
The Central Bank of Nigeria has incurred an estimated N1.55 trillion in interest payments for the 12 successful Treasury Bills (T-Bills) auctions conducted in the first six months of 2024. The interest costs in 2024 were approximately 654.7 percent higher…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has reintroduced the publication of several key economic reports, reaffirming its commitment to fostering transparency and accountability in the Nigerian economy. In a statement made available to NewsDirect, the Ag. Director,…
