Naira Weakens To 4-Year Low As Dollar Sells For N502/$1   Nigeria’s currency weakened to a four-year low in the parallel market after the central bank’s efforts to coax banks to sell more dollars to customers failed to bridge the widening gap between the official and...

CBN Seeks To Slash Importation Bill By 35%       The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said efforts are ongoing to reduce the country’s import bill by about 35 per cent. He said President Muhammadu Buhari’s insistence about five years ago...

Gambian Central Bank Wants CBN to Fix her Currrency Bug. The Central Bank of Gambia (CBG)has appealed to Nigeria’s Central Bank (CBN) in fixing the Gambia’s currency bug. The Gambian request is coming just as it also wants to tap from CBN’s wealth of knowledge and...

Despite CBN’s Defence Measures, Naira Tumbles By 51.95%       The value of the naira to the dollar fell from 196.99 in December 2015 to 410 in April 2021, reflecting a 51.95 per cent decline despite the various foreign exchange policies introduced by the Central Bank of...

'Nigerian Govt’s Reliance On CBN Financing Worrisome'       The Nigerian government’s reliance on the Central Bank of Nigeria for the financing of budget deficits is certainly worrying, a London-based economic research firm has said. Capital Economics, in its ‘Africa Economics Focus’ released on Monday, said the government...

Investments In FG’s Treasury Bills Weaken, Sales Fall 19% To N1.35trn       Investors’ interest in the Federal Government’s monetary instrument, the Nigeria Treasury Bill (NTB) has recorded a significant decline with 19 per cent, year-on-year, YoY, decline in sales to N1.35 trillion in the first five...