Aggressive Interest Rate Cut Will Further Impede Economic Growth, Says CBN Deputy Gov The Central Bank of Nigeria (CBN) Deputy Governor, Financial System Stability Directorate, Philip Ikeazor, has said given the poor contribution to growth and vulnerability to rate hikes of the oil and manufacturing...

Pension Fund Declines 0.47% to N19.669tn in 18 Months - Report The pension fund of Nigeria has declined for the first time in 18 months after portfolio rebalancing by Pension Fund Administrators. Monthly data from the National Pension Commission showed that the pension fund declined by...

Currency Management Necessary in Expunging Corruption, Artificial Element in Naira Value President Bola Tinubu says currency management in the country is necessary to remove the artificial element of the value of the naira. Tinubu spoke on Sunday during the opening plenary of the World Economic Forum...

Dollar Demand for Education, Health in Nigeria Hits $1.8bn in Nine Months  The Central Bank of Nigeria dollar supply for foreign educational and health-related expenses rose by 49.22 percent to $1.81 billion in the nine months spanning January to September 2023. According to CBN data, Nigeria’s...

Naira Resurgence, Foreign Reserves and the Illusion of Truth, by Abdulrahman Abdulraheem   Famous psychologist, Tom Stafford, believes repetition makes a claim seem more true, regardless of whether it is or not. Understanding this effect can help one avoid falling for propaganda. “Repeat a lie often enough...

CBN Injects Dollars into BDCs at N1,021 per Dollar   The Central Bank of Nigeria (CBN) has announced the sale of $10,000 to each licensed Bureau De Change (BDC) operator nationwide. This marks the second such intervention this month by the apex bank. In a circular addressed to...