CBN Raises Dollar Supply, Lifts Ban on Cement, 42 Items The Central Bank of Nigeria has said it is raising dollar supply in the foreign exchange market, just as it also lifted the ban on 43 items that were previously not qualified for forex at...

CBN Restates Commitment to Single FX Market The Central Bank of Nigeria (CBN) has restated its commitment to boost liquidity in forex Market. This was contained in a report signed by the CBN Director, Corporate Communications, Isa AbdulMumin on Thursday, that the apex bank will continue...

Currency in Circulation Hit N2.76trn in September 2023 - CBN Latest data released by the Central Bank of Nigeria (CBN) has revealed that the currency in circulation reached N2.76 trillion as of September 2023. This marks a 14.5 per cent year-on-year (y-o-Y) decline from the N3.23...

Job Losses, Factory Shutdown Loom as Naira Falls to 1,025/$ The naira fell further on Tuesday as it exchanged for the dollar at the parallel market between 1,005/$ and 1,025/$. Owners of small-scale enterprises, Nigeria Employers’ Consultative Association, and manufacturers has expressed concern about the falling...

CBN Slashes Cash Mop by 82% to N150bn   In a bid to stimulate economic growth worsened by unprecedented rise in prices of goods and services, the Central Bank of Nigeria (CBN) reduced its cash mop up operation by 82 per cent to N150 billion in...

External Reserves Drop by $841m in Three Months   Nigeria’s external reserves fell by $841.75m between July and September, figures obtained from the Central Bank of Nigeria (CBN) revealed. The CBN revealed in its report on the movement of external reserves that the reserves, which stood at...