The Central Bank of Nigeria (CBN) has issued a clarification on the requirements for divestments and repatriation of foreign investments related to the Certificate of Capital Importation (CCI). In a circular signed by the Acting Director of the Trade &…
The Manufacturers Association of Nigeria (MAN) is worried that the Central Bank of Nigeria’s (CBN) unsettled forex forward is causing financial strain on manufacturing businesses leading to widespread closures, job losses, and economic turmoil. The Director General at MAN, Segun…
The Central Bank of Nigeria (CBN) has adjusted the stop rate on one-year Treasury Bills (T-Bills) to 21.889 percent in its latest auction held on August 7, 2024. This is a minor reduction of 0.211 percent-points, or 0.95 percent from…
By Matthew Denis, Abuja and Seun Ibiyemi The Central Bank of Nigeria (CBN) has auctioned $876.26 million to 26 banks in the country. The move is aimed at reducing the pressure of foreign exchange on the naira. In a statement…
The Central Bank of Nigeria (CBN) says it undertook the sale of foreign exchange (Fx) to end users through a Retail Dutch Auction System (rDAS). According to a statement by Omolara Duke, Director, Financial Markets Department of the apex bank,…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has granted approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. In a statement made available to NewsDirect by the acting…
A report on the Nigerian Banking Sector Report in 2024 by Afrinvest Group has blamed the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso’s delay in providing market direction guidance to Forex dealers and investors as responsible to significant fall…
The Central Bank of Nigeria has reaffirmed its commitment to supporting the federal government’s target of achieving a $1tn economy. Speaking at the Afrinvest 2024 Banking Sector Report Launch, Acting Director of Financial Policy and Regulations, Mr John Onoja, representing…
…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.…
