Professor Moghalu and the Limit of Self-righteousness
By Temitope Ajayi
I continue to find it quite amusing how Professor Kingsley Moghalu and others like him have managed to convince themselves that their period in government was the 'golden era of competence' in the management of the...
Why CBN Barred Crypto Bank Account Operators from Cash Withdrawal
The Central Bank of Nigeria has instructed banks to decline cash withdrawals from accounts opened for virtual and digital assets transactions due to its new regulations aimed at providing standards for the banking sector.
Withdrawals from...
Banks Borrow N17.85tn from CBN in 2023
Commercial and merchant banks borrowed a whooping N17.85 trillion from the Central Bank of Nigeria (CBN) to meet their daily business obligations amid macro economic challenges in 2023.
This presents an increase of 60 per cent over the N11.15...
External Reserves Fall $77m in December
The external reserves of Africa’s largest economy recorded a drop to the tune of about $77.23m or 0.23 per cent in December 2023 due to the lingering foreign exchange instability in the country.
As of December 28, 2023, according to...
Consumer Credit Increases By 32% To N3.05trn In 9 Months
Consumer credit rose by 32 per cent to N3.05 trillion in the nine months to September 2023, 9M ‘23 from N2.31 trillion at the end of December 2022.
The Central Bank of Nigeria, (CBN) disclosed this...
'Nigeria Borrows $1.7bn to Boost FX Inflows'
Nigeria got $1.71bn in foreign loans to boost foreign exchange inflow into the country in the first nine months of 2023.
Total capital importation including Foreign Direct Investment, Foreign Portfolio Investment, and others amounted to $2.82bn in the time...
