…Set to create new office to manage dormant account funds The Central Bank of Nigeria (CBN) has intervened in the foreign exchange market, injecting a sum of $148 million into the system. This move comes amidst increasing pressure on the…
The Socio-Economic Rights and Accountability Project, SERAP, says it has dragged the Central Bank of Nigeria to court over allegedly missing N100 billion dirty Naira notes. SERAP disclosed this in a statement on Sunday by its deputy director, Kolawole Oluwadare.…
The Central Bank of Nigeria, CBN, has revealed that it recently sold a cumulative amount of 148 million dollars to authorised dealers in the Nigerian Foreign Exchange Market, NFEM. The apex bank’s acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali,…
By Esther Agbo Nigerians spent $38.17 million on foreign education in the first quarter of 2024, according to the Central Bank of Nigeria’s latest statistical bulletin. This figure marks an 83 percent decline from the $218.87 million spent during the…
Gov. Hyacient Alia of Benue has solicited the support of the Central Bank of Nigeria (CBN) to rebuild the State economy, through revolution in agriculture and mining sectors. This was contained in a Statement on Thursday in Makurdi by the…
…As OPS warns of worsening crisis By Esther Agbo Following the hike in CBN interest rate, the Manufacturers Association of Nigeria (MAN) has warned that the new rate would further constrain the growth of the manufacturing sector, affecting consumer purchasing…
By Esther Agbo Following the hike in CBN interest rate, the Manufacturers Association of Nigeria (MAN) has warned that the new rate would further constrain the growth of the manufacturing sector, affecting consumer purchasing power, production levels, competitiveness, and sales.…
…External reserves hit 17-month high of $37bn, to boost investor confidence …Nigeria’s capital importation hits $5.92 billion …Implement fiscal policy measures to tackle inflation — CPPE to FG …Pressure on Naira represents a clear risk to Nigeria’s policy rate —…
The Centre for the Promotion of Private Enterprise (CPPE) has commended the Central Bank of Nigeria (CBN) for a moderate interest rate hike. It also called for urgent implementation of fiscal policies to stabilise the economy. Dr Muda Yusuf, Chief…
The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark lending rate to 26.75 per cent. The hike in the Monetary Policy Rate was disclosed by the Governor of the CBN, Olayemi Cardoso, at the end…
