Tag: CBN

As of July 1, importers will no longer be able to access the foreign exchange pricing verification system webpage, according to the Central Bank of Nigeria. It further said that ...

In just one month, direct remittances increased by $172 million, according to the Central Bank of Nigeria. Remittances totaled $138.56 million in January, $39.14 million in February, $104.90 million in ...

Following a flurry of reforms by the Central Bank of Nigeria, forex turnover at the official foreign currency market soared to $23.29bn within over six months of trade. Between January ...

The World Bank has approved two financing facilities of $2.25 billion for Nigeria to support the Federal Government’s efforts to stabilize the economy. The approval was announced in a statement ...

The ongoing surge in prices of goods and services, coupled with the naira's further depreciation, is projected to push inflation above 34 percent in May 2024, marginally higher than April's ...

Bank borrowing from the Central Bank of Nigeria (CBN) decreased by 10.6 percent month on month (MoM) in May to N10.9 trillion. The CBN offers two short-term lending windows for ...

The Central Bank of Nigeria has again reassured the banking public of the safety of their deposits and the banking system’s resilience. The apex bank’s Acting Director of  Corporate Communications ...

The Central Bank of Nigeria (CBN) has revoked Heritage Bank Plc's licence, effective immediately, due to poor financial performance. Regulatory Action This decision aligns with the CBN's mandate to maintain ...

The Central Bank of Nigeria on Friday, announced that international oil companies can sell their retained 50 per cent of repatriated export proceeds in the Nigerian Foreign Exchange Market. This ...

The recent 150 basis points hike in the Central Bank of Nigeria's (CBN) Monetary Policy Rate (MPR) to 26.25% will exacerbate the already high cost of doing business in Nigeria, ...