External Reserves Gain $76.5bn In Seven Days       In a curious twist of fate last week, there was a breather for the falling foreign exchange reserves. The figures gained an average of $76.5bn in seven days. The gross component gained $83.3 million between July 12 and July...

Naira Exchanges For 503/$ At Parallel Market     The naira exchanged to the dollar at 503 at the parallel market on Friday according to the Bureau de Change operators. Figures obtained from naijbdcs.com, the official website for the licensed BDCs by the Central Bank of Nigeria showed...

Vulnerable Borrowers Received 37.72% Of Bank Loans – CBN       Vulnerable borrowers benefitting from the Central Bank of Nigeria’s COVID-19 forbearance hold about 37.72 per cent of the entire banking industry loan portfolio as of April. A member of the Monetary Policy Committee, Robert Asogwa, said this...

CBN Pledges Increased Financial Interventions To SMEs       The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the bank will increase its development finance interventions to further support start-ups and small and medium enterprises in the country. Emefiele spoke while delivering the 51st...

Oil Palm Producers Seek N200bn Intervention Fund From CBN     To revamp the dwindling fortunes of the oil palm industry, the National Palm Produce Association of Nigeria (NPPAN) has called on the Central Bank of Nigeria (CBN) to set aside a minimum of N200 billion intervention...

Naira Relapses To N500/$1 Despite Marginal Gains     The naira yesterday depreciated to N500/$1 after recording marginal gain against the greenback at the weekend. The naira closed last week at N498/$1, N2 weaker than current position of the local currency. Also, foreign exchange (forex) reserves have dropped to...