The Central Bank of Nigeria (CBN) has stated that Nigeria’s high inflation would further reduce the value of the Naira/ as imported products become more expensive. This was disclosed by Dr Omamegbe Mo, a member of CBN’s Monetary Policy Committee.…
Central Bank of Nigeria (CBN), in the month of August has sold a total of N446.15bn in Treasury bill auctions. This was 9.47 per cent higher than the N407.55bn allotted in June. Specifically, for the 91-day tenor, the CBN sold…
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji, says there is urgent need to diversify the Nigerian economy to spur growth. Nnaji made the call during the weekend, at the 33rd Seminar for…
The Central Bank of Nigeria (CBN) has unveiled the Unstructured Supplementary Service Data (USSD) for its eNaira to enhance financial inclusion in the country. The CBN Governor, Godwin Emefiele said this during the inauguration of the USSD transaction code at…
The Central Bank of Nigeria (CBN) has reversed the five per cent interest rate on all its intervention facilities to nine per cent per annum, effective September 1, 2022. This was contained in a circular signed by the Director of…
The Central Bank of Nigeria (CBN) has ordered banks in Nigeria to pay savings deposit accounts an interest rate of at least 4.2 per cent, an increase from the 1.4 per cent previously received. This was contained in a circular…
Nigerian banks and the organised private sector (OPS) have called on the Central Bank of Nigeria (CBN) to increase foreign exchange allocation to the real sector by restoring the priority window and dedicated access for manufacturers. This was part of…
The Central Bank of Nigeria (CBN) in collaboration with the Africa Fintech Foundry (AFF) is set to support 10 startups, to increase the adoption of eNaira in the country. This was disclosed by the Head of AFF, Mr Daniel Awe,…
The Central Bank of Nigeria (CBN) has advised members of the Organised Private Sector (OPS) to always ensure that they repatriate foreign exchange (FX) proceeds back to the apex bank in order to ease FX pressure in the country. Deputy…
In the face of rising demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has advised Nigerians to resist the urge of succumbing to the speculative activities of some players in the…
