Private sector credit rose to a record high of N35.31 trillion as of November 2021, representing N5.16 trillion net new loans between January and November 2021. This is according to data from the Central Bank of Nigeria (CBN) money and…
The amount of foreign exchange that came into Nigeria in Q3 2021, skyrocketed by 64% to $30.18 billion compared to $18.4 billion recorded in the previous quarter. A surge which is attributed to newly acquired federal government loans, recorded in…
By Seun Ibiyemi The Association of Bureaux De Change Operators of Nigeria (ABCON), an umbrella body for over 5,3000 Central Bank of Nigeria (CBN)-licenced Bureaux De Change (BDCs) has advised the apex bank to de-risk BDCs operations to allow operators…
The Central Bank of Nigeria and others particularly the financial services regulators, would invest N1.54 trillion over five years to increase liquidity in the financial services sector. The government intends to boost the liquidity thresholds in each segment of the…
Deposit money banks have witnessed an increase in foreign exchange demand due to the central bank’s ban of forex sale to Bureaux De Change (BDCs). This was disclosed by CBN Deputy Governor, Adamu Edward Lametek in his statement at the…
The Central Bank of Nigeria has said that the banking sector will increase access to loans for Nigerian households and businesses in 2022. This was disclosed by Governor of the Central Bank of Nigeria, Godwin Emefiele, in a statement made…
Nigerian naira tumbled to N435 against the dollar at the official market on Friday. This is coming as the Central Bank of Nigeria (CBN) adjusted the country’s exchange rate on its website to N413.49/$1 — in what seems to be…
Diaspora remittances into Nigeria is set to surpass Foreign Direct Investment (FDI) for the second consecutive year given some of the favourable policies instituted by the Central Bank of Nigeria (CBN) alongside technological innovations, WorldRemit, a cross-border digital payment service…
Nigeria’s foreign reserve dipped $485.41 million to settle at $40.66 billion from $41.15 billion as of 1 December 2021. This is according to the latest figures obtained from the Central Bank of Nigeria (CBN). In 2020 and 2019, a similar…
The Central Bank of Nigeria (CBN) and the Maize Association of Nigeria (MAAN) have begun a collaboration to aggregate maize under the Anchor Borrowers Programme (ABP) of the Federal Government for the 2021 wet season. The maize farmers also inaugurated…
