Banking Stocks on NGX Lost N1.6tn
Banking stocks listed on the Nigerian Exchange have lost about N1.62tn in their market capitalisation since the Central Bank of Nigeria directed the banks in the country to recapitalise.
In late March, the Central Bank of Nigeria directed Deposit Money...
CBN and the Road to One Trillion Dollars
By Abdulrahman Abdulraheem
When President Bola Tinubu nominated Olayemi Cardoso as the governor of the Central Bank of Nigeria (CBN) on September 15, 2023, those knowledgeable about the rot in the system and his pedigree were excited about...
Recapitalisation of Banks Now Driving in Foreign Investors - Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Wednesday disclosed that foreign investors are already moving funds into the country to invest in Nigerian banks under the ongoing recapitalisation exercise.
Cardoso...
Naira Rises to N1,580/$ in Parallel Market
The Naira yesterday appreciated to N1, 580 per dollar in the parallel market from N1,610 per dollar last week Friday. But, the Naira yesterday depreciated to N1,611.4 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from...
SERAP Sues CBN Over Failure to Account for N100bn 'Bad Notes'
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure to account for and explain the whereabouts of the over N100 billion ‘dirty and...
CBN Sells $148m to Authorised Dealers to Strengthen FX Market
The Central Bank of Nigeria (CBN) on Friday disclosed it sold a cumulative amount of 148 million dollars to authorised dealers in the Nigerian Foreign Exchange Market (NFEM).
According to Mrs Hakama Sidi-Ali, acting Director, Corporate...
