External Reserves Decline By $1.1bn In One Month     External reserves dropped by $1.1bn in February, according to statistics obtained from the Central Bank of Nigeria on Monday. The reserves which stood at $36.19bn as of February 1 fell to $35.09bn as of February 26. The Central Bank...

In Six Months, CBN Defended Naira With $10.3bn       The Central Bank of Nigeria (CBN) defended the naira in six months with $10.3 billion intervention in the inter-bank foreign exchange market, its half-year report has shown. The naira dipped to N429.75/$1 on the Investors’ & Exporters’ window...

Weekly Diaspora Remittances Now $30m – Emefiele       The Central Bank Governor, Godwin Emefiele, has said that weekly diaspora remittances rose from $5m to $30. He noted that the initiatives introduced by the Central Bank of Nigeria to boost forex in the country were yielding result. Emefiele spoke...

We'll Increase Agric Loans By 6% - CBN         The Central Bank of Nigeria (CBN) said it will increase banking sector credit to the agriculture sector to 10 per cent from the current four per cent, indicating a six per cent increase. CBN Governor Godwin Emefiele...

CBN, SEC Anchor Cryptocurrency Ban On Financial System Protection     The Central Bank Governor, Mr Godwin Emefiele, on Tuesday said the bank’s decision to prohibit deposit money banks, non-banking institutions and other financial institutions from facilitating trading and dealings in cryptocurrency was in the best interest of...

CBN Sells $10.3bn At Forex Market In Six Months       The Central Bank of Nigeria (CBN) sold a total of $10.3 billion at the foreign exchange (FX) market in the first half of last year, the 2020 half-year activity report released by the regulator yesterday has...