central bank of Nigeria

The Central Bank of Nigeria (CBN) has announced a further decrease in the exchange rate used to calculate import duties at seaports. This reduction comes after a period of relative stability in the exchange rate between the Naira and the…

The Central Bank of Nigeria (CBN) said it has concluded a sale of government securities, issuing N1.053 Trillion (US$680 million) in short-term instruments as part of its liquidity management exercise. In a statement on Monday, the apex…

In a move to tackle the persisting distortions in the retail segment of Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has taken a decisive step in distributing $20,000 to each eligible Bureau De Change (BDC) operator…

The Office of the National Security Adviser (NSA), Nuhu Ribadu; and the Central Bank of Nigeria (CBN) have joined forces to deal with forex speculators in the country and address challenges impacting the nation’s economic stability. In a…

The Auditor-General of the Federation, Shaaka Chira, has formally requested clarification from the Central Bank of Nigeria (CBN) regarding the disappearance of a $4.5 billion fund. The inquiry stems from an audit report issued by the…

In a swift reaction to ensure a smooth transition, Access Holdings Plc has appointed Ms Bolaji Agbede as its Acting Group Chief Executive Officer to ensure continuity after the death of its co-founder, and former group chief executive…

The Central Bank of Nigeria (CBN) has updated its Cash Reserve Requirement (CRR) mechanism making Deposit Money Banks (DMBs) with minimum Loans to Deposit Ratio (LDR) below requirement as facing a 50 per cent lending shortfall. The CBN…

At least 1,500 members of staff of the Central Bank of Nigeria will resume on Friday resume at its Lagos office following their redeployment from the headquarters. A source at the apex bank told our correspondent that the plan, though…

The Central Bank of Nigeria (CBN) will hold its first Monetary Policy Committee (MPC) meeting under its new governor, Yemi Cardoso on February 26th and 27th. This is according to a tentative MPC meeting calendar signed by the apex bank’s…

Credit to the private sector dropped by N3.8 trillion in November 2023 to N59.74 trillion from N63.57 trillion reported in October 2023. The Central Bank of Nigeria (CBN) in its money and credit statistics revealed that credit to the…