We Don't Have Control Over Fuel Price, Exchange Rate - CBN   The Central Bank of Nigeria (CBN) yesterday told the House of Representatives that it lacks control over the price of Premium Motor Spirit (PMS), popularly known as fuel, and the foreign exchange rate between...

CBN Recovers $22m, N115bn Excessive Charges Imposed On Customers   The Central Bank of Nigeria (CBN) yesterday said it has recovered $22.8 million and N115.5 billion for multiplicity of charges imposed on customers by the Deposit Money Banks (DMBs) over the past 11 years. Its Director of...

Zero Emission: Nigeria Lost N373bn to Gas Flaring in H1’23 Despite the commitment of the Federal Government to achieve zero flaring by 2060, gas flaring has increased 10 percent in the first half (January – June) of 2023 to 138.7 million metric standard cubic feet,...

Nigeria Lost 167.2m External Reserves as Naira Falls Further The Central Bank of Nigeria recent data shows that Nigeria's external reserves lost $167.2m in July, as the naira fell further to the dollar. The report on movement of external reserves revealed that the reserves which ended...

Currency in Circulation Now N2.26trn - CBN   Currency outside banks rose to N2.26tn at the end of June 2023, according to the latest figures from the Central Bank of Nigeria (CBN). According to figures obtained from the CBN, the currency outside banks rose by 185.68 per...

NECA Warns FG Over 25% Projected Inflation Rise by Q4'23 The Nigeria Employers Consultative Association has warned that the continuous rising of inflation, if not controlled can hit 25 per cent before the end of the years 2023. In a statement on Wednesday, the Director-General of...