CBN Pushed N2.907trn Cash Into Circulation In 2020   Despite the rising inflation, the Central Bank of Nigeria (CBN) allowed about N2.907 trillion or 19.06 percent more currency in circulation in the economy as at end-December 2020 compared to the N2.441.67tr currency in circulation at end...

Foreign Currency Inflows Dropped To $1.83bn In 2020   The Central Bank of Nigeria (CBN) has disclosed that it recorded a significant reduction in the volume and cost of foreign exchange procurement in 2020, the year of COVID, when the entire world was on lockdown and...

Reps Seek Financial Autonomy For Auditor-general’s Office   The House of Representatives’ Committee on Public Accounts has called for both administrative and financial autonomy for the Office of the Auditor General of the Federation to ensure optimal performance and transparency in its operations. The Chairman of the...

Govt Officials’ Estacodes, Others Gulp $3.9bn In One Year   The amount of foreign exchange used for the payment of estacodes and Personal Travel Allowances to Ministries, Departments and Agencies as well as to fund Bureaux De Change operations was $3.95bn in 2019, according to the...

External Reserves Gained $5bn In October - CBN   Nigeria’s external reserves rose by $5.05bn in October, the latest data from the Central Bank of Nigeria showed on Wednesday. The reserves increased from $36.78bn on September 30 to $41.83bn as of October 29. The Deputy Governor, Financial Systems...

Customs Target N2trn Annual Revenue   The Nigeria Customs Services is planning to generate N2tn this year and about N1.6tn of this amount is expected to be made from the South-West geopolitical zone. According to a report, the NCS generates about 80 per cent of its annual...