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...

CBN Raises Alarm over Fake Naira Notes in Circulation The Central Bank of Nigeria (CBN) has raised alarm over the circulation of counterfeit banknotes, especially higher denominations, by some individuals for transactions in food markets and other commercial centres across major cities in the country. The...

CBN Approves Service Charters to Ease Business Operations  The Governor, Central Bank of Nigeria, Mr Olayemi Cardoso, has approved the CBN’s reviewed Service Charter on ease of doing business. A statement from the CBN on Wednesday revealed that the service charter is a requirement of the...