How External Debt Servicing Gulped $3.07bn in 10 Months – CBN Latest data obtained from the Central Bank of Nigeria (CBN) has revealed that Nigeria spent about $3.07 billion towards servicing external debt. This represents a 38 per cent increase, higher than the $2.22 billion spent...

CBN Projects N900bn to Raise Banks Capital – Report The Central Bank of Nigeria may ask commercial banks with international banking licence to raise their capital base to over N900bn, according to a new report. This came a few months after the Central Bank of Nigeria...

Currency Outside Banks Surges To N3trn - CBN   Recent data released by the Central Bank of Nigeria (CBN) has revealed a notable spike in currency outside the banks during the month of November 2023, reaching unprecedented levels based on historical records. According to the Money and...

'CBN Still Short Of Forex To Clear Backlog'   Fitch, one of the leading global credit rating agencies, has said that the Central Bank of Nigeria (CBN) still lacks sufficient foreign exchange (forex) to clear the backlog of demand in the country. Director of Middle East and...

Naira Slumps To N1,340/$1 At Parallel Market, FX Shortages Persist   Hopes of local and international businesses getting foreign exchange suffered a set-back as the naira slumped to fresh lows against the US dollar at the official and parallel markets at the weekend. This comes as...

CBN Reveals Foreign Medical, School Bills Gulped $1.58bn In Six Months   Nigerians spent $1.58bn on health tourism, foreign education, and other personal matters in six months, data from the Central Bank of Nigeria have revealed. The data from the apex bank’s Balance of Payment compilation spanning...