Former CBN Governor, Emefiele Arrested by EFCC Former Governor of the Central Bank of Nigeria, Godwin Emefiele, is currently being detained in the custody of the Economic and Financial Crimes Commission (EFCC). Emefiele, who is currently being interrogated at the National Headquarters of the anti-graft agency,...

Senate Passes Bill to Reduce CBN Governor’s Power The Nigerian Senate has passed two bills for an Act to amend the Central Bank of Nigeria (CBN) Act and other related matters thereto, 2023, and an Act to amend the CBN (Establishment) Act 2007 to make...

Inflation Drives Money Supply to N66.4trn in 2023 - CBN The Central Bank of Nigeria (CBN) data shows that Nigeria’s total money supply (M2) grew to N66.4 trillion, from N65.15 trillion recorded in August 2023 amid inflation concerns and naira devaluation. This represents a 1.91 per...

Reps Summon Cardoso Over Reversal of Ban on Rice Importation, Others House of Representatives has resolved to summon Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, over the lifting of ban on the importation of rice and 43 other items. Cardoso is expected to appear before...

FG to Clear FX Backlog, Attract More Investors President Bola Tinubu has reiterated his pledge to clear the foreign exchange backlogs, as a way of resetting the finance ecosystem and attracting fleeing investors back to the country. The reassurances came as forex scarcity bites harder, leading...

Money Supply Increased to N66.42trn in September - CBN   The Central Bank of Nigeria (CBN) has disclosed that Nigeria’s money supply increased to N66.42 trillion in the month of September 2023, a marginal growth of about 1.94 per cent from N65.15 trillion in August 2023. The...