CBN Approves Banks to Trade with Deposited FX The Central Bank of Nigeria has issued guidelines to banks on implementing the free foreign exchange deposit window announced by the Federal Government recently. The guidelines released by the CBN on Tuesday provided the modalities for the participation...

Foreign Reserves Hit $40.2bn in October – CBN The Central Bank governor, Olayemi Cardoso, says Nigeria’s foreign reserves hit $40.2 billion in October 2024 from $38.4 billion reported in September. This was disclosed during an investors’ meeting in Washington DC, the United States, on Wednesday. Also at...

FG to Launch Non-resident BVN Platform for Diasporan Nigerians in December - Cardoso  The Nigerian Inter-Bank Settlement System will introduce a non-resident Bank Verification Number platform by December, aimed at enabling Nigerians living abroad to manage their local bank accounts, conduct business, and meet Know...

CBN Addresses Outstanding Balance of $7 billion FX Backlog The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has said the apex bank is addressing the long outstanding balance from the $7 billion foreign exchange backlog it inherited from the previous administration. Speaking...

CBN Approves Forex Sales of $20,000 to BDCs at N1,590/$ The Central Bank of Nigeria has announced its decision to sell foreign exchange worth $20,000 to eligible Bureau De Change operator across the country. This was disclosed by the apex bank in a statement signed by...

Cardoso: A Public Official in the Eye of the Storm By Bashir Jalal In the peculiar context of Nigerian public space, there are three categories of critics. The first is that of people who offer constructive engagements and are not bogged by any pecuniary, regional, or...