Foreign Education Allocation Crashes by 83% in 2024, Says CBN
Data from the Central Bank of Nigeria’s first-quarter 2024 statistical bulletin, revealed that Nigerians spent $38.17m on foreign education between January and March 2024.
The amount spent crashed by 83 per cent from $218.87m recorded in...
JUST IN: CBN Raises Interest Rate to 26.75% Amidst Inflationary Pressures
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has again increased the benchmark interest rate by 50 basis points from 26.25 per cent to 26.75 per cent.
This was disclosed by...
ATM Transactions Drop by 13% To N28.2 trn
The value of Automated Teller Machine (ATM) transactions fell year-on-year (YoY) by 13.6 percent to N28.2 trillion in 2023 from N32.65 trillion in 2022.
The Central Bank of Nigeria, CBN, disclosed this in its March 2024 statistical bulletin.
The...
In Three Months, Forex Inflow Via IMTOs Hits $1.07bn
Foreign exchange inflows from International Money Transfer Operators increased by 38.86 per cent to $1.07bn in the first quarter of 2024, from $770.23m recorded in the same period in the previous year.
This was revealed in the...
CBN Approves Sale of $20,000 to BDC Operators
The Central Bank of Nigeria (CBN) has approved the sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,450 per dollar to meet the demand for invisible transactions.
In a statement on Thursday signed...
Average FX Turnover Rises 180% to $240m in One Year – CBN
Data from the Central Bank of Nigeria has revealed that the average foreign exchange turnover grew by 180.47 per cent in one year to $240.64m as of the end of February.
This is an...
