Naira Slides Further As Dollar Shortage Hits Banks   The widening gap between the demand and supply of dollars in the banks and at the parallel market has continued to worsen the value of the naira. In less than three weeks, the naira lost N100 after sliding...

CBN Staff Loans Increase By 113%, Now N40bn The Central Bank of Nigeria (CBN) has said that it issued N40.67bn loans to members of its staff as of December 2022. This was according to the apex bank’s audited financial statement for 2022. Economic Confidential observed that there...

I&E Window: Forex Inflow Rises 23% to $1.41bn in One Month - CBN Foreign exchange (Forex) inflows through the investors and exporters (I&E) window rose month-on-month by 23 percent to $1.41 billion in June from $1.14 billion in May 2023. The Central Bank of Nigeria, CBN,...

The Exit of Multinationals from Nigeria over Business Climate By Zekeri Idakwo, Let us just admit it. The business environment in Nigeria is gradually becoming a threat not only to the smooth operations of small-scale businesses, but also multi-national companies in the country. Some few weeks ago,...

Diaspora Remittances Fuel Money Laundering, Trafficking in Persons - CBN Diaspora remittances is one of the major sources of money laundering, and trafficking in persons, Mr. Folashodun Shonubi, Acting Governor of the Central Bank of Nigeria (CBN), has said. While underscoring the positive impact of the...

IMF's 3.2% Economic Growth Projection Not Enough For Nigeria - CBN   The Central Bank of Nigeria (CBN) has stated that the 3.2 per cent growth projection by the International Monetary Fund (IMF) is not enough considering the poverty rate which is currently standing at 31...