The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has retained the monetary policy rate (MPR), which benchmarks interest rates in the country, at 27.5 percent.
Olayemi Cardoso, governor of the apex bank, announced the rate adjustment … Read the rest
In major economic comeback, Nigeria recorded a Balance of Payments (BOP) surplus of $6.83 billion in 2024.
This marked a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022.
The Central Bank of Nigeria (CBN) … Read the rest
In the last two weeks, the Central Bank of Nigeria (CBN) and other banking institutions have improved dollar supply to the foreign exchange market by $2.5bn, making the naira strengthen to N1,309 against the United States dollar.
Official figures obtained … Read the rest
Nigeria’s former central bank chief Godwin Emefiele has described the allegations against him as “barefaced lies”
Nigeria is seeking Interpol’s help to arrest three suspects who allegedly stole $6.2m (£4.9m) from the central bank, using the forged signature of then … Read the rest
It is not just the menace of insecurity in the land that has been in the news in Nigeria, the economy too, and indeed the latter for obvious reasons as well, with the national currency, the Naira in a very … Read the rest
The Arewa Consultative Forum, a pan-northern socio-political organisation, has condemned the relocation of the Federal Airports Authority of Nigeria (FAAN) and key departments of the Central Bank of Nigeria (CBN) to Lagos by the President Bola Ahmed Tinubu.
According to … Read the rest
Godwin Emefiele’s request to travel out of Abuja has been granted by the Federal Capital Territory (FCT) High Court.
The former Governor of the Central Bank of Nigeria (CBN), Emefiele, through his lawyer, Mathew Bukka, SAN had requested for a … Read the rest
The Special Investigator probing the Central Bank of Nigeria (CBN), Jim Obazee, has discovered 593 bank accounts located in the United States, United Kingdom and China in which the Central Bank of Nigeria (CBN), under Godwin Emefiele, kept Nigerian funds … Read the rest
The Central Bank of Nigeria (CBN) has floated the country’s exchange rate, and allowed commercial banks to freely trade foreign exchange at any rate.
The naira is currently exchanging between N750 and N755 to the dollar at import and export … Read the rest
Banks across Nigeria are set to raise their cash withdrawal limits from the current N20,000-N50,000 range to over N80,000-N100,000, according to multiple bank officials.
The move, it was learnt, would help bank branches to tackle lingering queues in some cities … Read the rest
