Currency Outside Banks Hit N2.29trn in H2 - Report Currency Outside Banks, CoB, rose Month-on-Month (MoM) by N90 billion or 4.09 percent to N2.29 trillion in August from N2.2 trillion in July 2023. Currency Outside Banks, CoB has been on the increase since March reflecting the...

Credit to Private Sector, Govt Rise by 42.68% to N87.27trn   The Central Bank of Nigeria (CBN) has disclosed that banks’ credit to the economy rose by 42.68 per cent Year-on-Year (YoY) to N87.27 trillion in August 2023 from N61.17 trillion reported in the corresponding period...

Forex Inflow Hits $10.7bn In Two Months - CBN Nigeria recorded $10.7bn aggregate foreign exchange inflow into the economy in April and May, figures obtained from the Central Bank of Nigeria (CBN) have revealed. The CBN disclosed this in its May economic report on foreign exchange...

Naira Hits N1000/$1 at Parallel Market The disparity between the official and parallel market rate is now very much wider than anticipated as the dollar at parallel market, on Tuesday, sold at N1000/$1 at the end of transactions. According to traders who spoke to Daily Sun,...

I'll Clear Dollar Debts, Suspend Intervention Loans - Cardoso   The new Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso, has said he will prioritise clearing the apex bank’s backlog of unsettled foreign exchange obligations in the near term. He said this on Tuesday during...

Senate Confirms Cardoso As New CBN Gov, Deputies  The Senate on Tuesday confirmed the nomination of Olayemi Cardoso as substantive Governor of the Central Bank of Nigeria (CBN). Cardoso was screened alongside four nominees for the positions of CBN Deputy Governors, to steer affairs of the...