In One Month, CBN Injects $1.47bn Into Forex Market       The Central Bank of Nigeria injected $1.47bn into the foreign exchange segment of the market as part of its efforts to stabilise the naira in January. According to figures from the CBN’s January report on its foreign...

Local Airlines Spend N44bn Annually On Overseas Maintenance       Overseas maintenance of aircraft costs scheduled local airlines excess of N44 billion yearly. The capital flight, from a conservative estimate of about 70 operating airplanes, lately soared given the black market exchange rate of close to N500/$1. Stakeholders said...

CBN Licenses Ten More Money Transfer Operators     The Central Bank of Nigeria has added 10 companies to the list of International Money Transfer Operators licensed in the country. This was disclosed on Monday in a report, titled ‘Updated list of International Money Transfer Operators in Nigeria...

Oil Imports Gulped $1.32bn In 2020 - CBN       The quantity of foreign exchange used for oil imports in 2020 was $1.32bn, compared to $2.10bn in 2019, the latest data from the Central Bank of Nigeria have shown. The CBN’s data on sectoral utilisation for transactions valid...

States’ Cash Cruch: CBN Kicks As Govs Beg FG To Postpone $2.1bn Support Repayment         State governors on Thursday at the monthly meeting of the National Economic Council appealed to the Federal Government to postpone the repayment of the $2.1bn budget support facility to states which...

CBN To Sanction BDCs, Banks Rejecting Lower Dollar Bills       Deposit Money Banks (DMBs) and authorised Bureau De Change (BDC) operators who reject old and lower denomination of the United States dollar bills will be sanctioned, the Central Bank of Nigeria (CBN) said yesterday. A circular signed...