Recently, the Central Bank of Nigeria claimed that Nigeria diaspora remittances surged significantly following the launch of the Naira4Dollar scheme in March 2021. Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), stated this reason in a speech to journalists on Thursday, February...

CBN to Stop Sale of Forex to Banks as Naira Falls Against Dollar ECONOMIC CONFIDENTIAL- Naira fell massively at the black market on Thursday after traders learned that the Central Bank of Nigeria (CBN) was planning to halt dollar sales to commercial banks. Although CBN said...

Nigerian importers have reacted angrily to a recently implemented policy of the Central Bank of Nigeria that requires foreign suppliers to register on its website and abide by its pricing rules. They warn that the upcoming policy will result in a shortage of goods in...

Banks Cut Borrowing From CBN By 46% To N1.3trn   In apparent reflection of the improved liquidity in the interbank money market, banks’ borrowing from the Central Bank of Nigeria, CBN, fell by 46 per cent, month-on-month, MoM, to N1.3 trillion in January. On the other hand...

FG Raises CBN, PPPRA, Others’ 2022 Revenue Targets By N754.31bn   The Federal Government has reviewed upwards the independent revenue projection for Ministries, Departments and Agencies in the 2022 fiscal period by N754.31bn. The N754.31bn indicates an increase of 71.09 per cent from the approved N1.06tn in...

Naira Crashes, Records Low At Official Market   The value of the naira fell further by 1.68 per cent against the dollar at the official market on Thursday. At the Investor & Exporter foreign exchange window, the local currency opened at 413.15/$1 on Thursday but closed at...