Dollar Debts: CBN To Repay Banks, Naira Rebound Likely
The Acting Governor of the Central Bank of Nigeria (CBN) Folashodun Shonubi, has said the apex bank will repay banks all outstanding forward contract debts in the next one to two weeks.
Although he did not disclose...
Net Forex Inflow Hits $7.2bn, Up by 24%
The net foreign exchange inflow through the economy rose quarter-on-quarter (QoQ) by 24.7 percent to $7.2 billion in the first quarter of 2023 (Q1’23), from $5.78 billion in the preceding quarter, Q4’22.
The Central Bank of Nigeria, CBN,...
Foreign Investors Gain $5bn Dividend – CBN
The Central Bank of Nigeria has disclosed that foreign firms repatriated $5.86bn from the Nigerian economy between October 2022 and March 2023.
About $5.13bn was repatriated as dividends by foreign investors.
In its ‘Economic Report, First Quarter 2023,’ the apex...
External Reserves Marginally Gained $1.87m in August
In August 2023, Nigeria’s external reserves experienced a slight uptick of $1.87 million, thanks to the policies implemented by the Central Bank of Nigeria (CBN) aimed at stabilising the foreign exchange market.
The external reserves, as reported by the...
CBN Says FG’s Three-month Expenditure Exceeds Revenue by N1.43trn
The Federal Government’s expenditure exceeded revenue by N1.43tn in the first three months of 2023, according to figures obtained from the Central Bank of Nigeria (CBN).
The CBN revealed in its economic report for the third quarter...
