CBN Reveals Currency Outside Banks Hit Historic High of N3.4trn   A report by the Central Bank of Nigeria (CBN) has revealed that currency outside banks at at December 2023 reached a staggering N3.43 trillion, representing a whopping 94 per cent of the N3.65 trillion total...

Ticket Revenue: CBN, Foreign Airlines Clash Over Unpaid $700m   The Central Bank of Nigeria (CBN) and foreign airlines operating in Nigeria have differed over the total amount of unpaid ticket revenue in the country. The CBN on Tuesday said it had ‘concluded the payment of all...

Banks’ Loan Portfolio Surged By N20.8trn   Despite the stringent policy measures implemented by the Central Bank of Nigeria (CBN), commercial banks in the country have witnessed a remarkable N20.8trillion Year-on-Year (YoY) growth in their total credit to the private sector, reaching a substantial N62.52 trillion...

CBN Warns Forex Dealers As Naira Plunges In Official Market   The naira plunged further at the official window on Tuesday, closing at an all-time-low of N1,482 against the United States dollar. The local unit had closed at 1,348 against the greenback on Monday after the FMDQ...

JUST IN: With $64.44m Addition, CBN Concludes Payment of FX Backlog to Foreign Airlines The Central Bank of Nigeria (CBN) has concluded the payment of all verified claims of backlog of foreign exchange owed to foreign airlines, with an additional $64.44 million to the concerned...

Despite $500m to Address Verified FX Backlog, Naira Plunges to N1,500 Per Dollar The free fall of the Naira continued at the parallel market as the United State Dollar exchanged for N1506/$ yesterday from the N1,410 it sold the previous day despite the release of...