Naira Trades 864/$ at FX Window The naira appreciated by 27.16 per cent to close at N864.29/$ on the official Investors and Exporter window on Monday. This is as the daily turnover of the dollar surged by 86.83 per cent to $132.46m at the closing of...

CBN Suspends Changes on Large Deposit The Central Bank of Nigeria has suspended the processing fees of two per cent and three per cent previously charged on all cash deposits above N500,000 for individuals, and N3m for corporates with immediate effect. This development followed the lingering...

Currency in Circulation Falls by N1.39trn, as Naira Scarcity Intensifies   The currency in circulation has significantly dropped by N1.39 trillion. According to new data released by the Central Bank of Nigeria (CBN), the currency in circulation fell to N1.39 trillion in January 2023, from N3.23...

FG Records N1.5trn Fiscal Deficit In Two Months, CBN Reveals   The Federal Government recorded N1.54tn fiscal deficit in July and August 2023, figures from the Central Bank of Nigeria (CB) have revealed. According to CBN’s monthly economic report for August, the Federal Government recorded N818.53bn and...

Nigerian Banks Are Buoyant, CBN Assures   The Central Bank of Nigeria (CBN), has assured the banking public that Nigerian banks are buoyant. The CBN said this in a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi Ali. Ali’s statement was informed by reports in...

External Reserves Decline by $520m in Five Weeks – CBN   The country’s external reserves fell by $520.22 in five weeks, figures obtained from the Central Bank of Nigeria (CBN) revealed. According to CBN’s data on movement in reserves, the figures which stood at $33.396bn as of...