Old Banknote Remains Legal Tender - CBN Every banknote remains legal tender and should not be rejected by anyone, the Central Bank of Nigeria has disclosed. This is as the apex bank directed all its branches across the country to continue to issue different denominations of...

Naira Devaluation Boosts Govt Revenue by N713bn   The government has made a N713.1bn revenue windfall from the devaluation of the naira, an analysis of the government’s earnings has shown. The devaluation of the naira in June was meant to boost the country’s foreign exchange earnings and...

CBN’s Lending to Banks Rises by 466 % to N268bn   Banks’ borrowings from the Standing Lending Facility (SLF) of the Central Bank of Nigeria (CBN) increased year-on-year (YoY) by 466 percent to N268.3 billion as at end of October 2023 from N47.35 billion as at...

ABCON Reveals Why Naira Regained Strength at FX Market   The Association of Bureau De Change Operators of Nigeria (ABCON), has revealed why the Naira is regaining strength against the dollar. “The development stems from the ‘double-edged sword dollar liquidity injection and the mopping up of the...

Cardoso Hosts Khalifa Sanusi, Restates CBN’s Focus on Price Stability   The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated that under his leadership, the Bank will focus mainly on the core mandate of price stability. He disclosed this on Thursday, November...

CBN Begins Clearance of $10bn Forex Backlogs of Foreign Airlines, Others The Central Bank of Nigeria (CBN), has started clearing over $10 billion foreign exchange backlogs of commercial banks and foreign airline operators. This is as the apex bank also assured the public that it has...