In 3yrs, Net Foreign Exchange Inflow Falls 56% to $3.2bn Net foreign exchange (forex) inflow into the economy fell by 56 per cent to $3.2 million in February 2022 from $7.2 billion in February 2020. Economic Confidential analysis of data from the Central Bank of Nigeria,...

FG To Probe Firm for Supporting Online Loan Sharks - NDPB The Federal Government, through the Nigeria Data Protection Bureau, says it is investigating the involvement of an unnamed consulting firm for supporting the illegal activities of some online lenders in Nigeria. The National Commissioner of...

MTN Alleges N22bn Fraud On Mobile Money Banking In One Month   MTN Communications Limited’s newly licensed Mobile Money Payment Service Bank Limited (MOMO PSB) has alleged a fraudulent loss of N22 billion in one month of operations. In a suit instituted by the MOMO bank against...

Re-Strategizing To Save Economy From Dollarisation There are indications that the CBN is considering renewal of its forex containment measures ahead of the 2023 elections to shield the local currency from further devaluation as apex bank is re-strategizing to align with its policy in 2015...

In Two Months, Nigeria Records $3.5bn FX Repatriation The Central Bank of Nigeria (CBN) has revealed that Nigeria has recorded the sum of $3.5 billion in foreign exchange repatriation from exporters, two months after the launch of the RT200 non-oil export rebate scheme. Godwin Emefiele, governor...

CBN Set to Sell N1.2trn Treasury Bills by Q3’22 The Central Bank of Nigeria, CBN, said it will sell N1.2 trillion worth of Treasury Bills (TBs) in the third quarter of 2022 (Q3’22). The apex bank disclosed this today in its Nigeria Treasury Bills Issue Programme...