Naira Appreciates, Sell for N1,350/$ in parallel market, Remains N1,251 in CBN The naira yesterday appreciated to N1,350 per dollar in the parallel market from N1,430 per dollar on Monday. Similarly, the naira yesterday appreciated to N1,382.95 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data...

Cardoso Assures on Banks’ Stability, Says MPC Decisions Target Increased Purchasing Power The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) in its 294th meeting held on Monday and Tuesday reviewed recent economic and financial developments in the country. In a communique issued...

Cardoso Assures on Banks’ Stability, Says MPC Decisions Target Increased Purchasing Power The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) in its 294th meeting held on Monday and Tuesday reviewed recent economic and financial developments in the country. In a communique issued...

Act Fast on Recapitalisation – CBN Tells Banks The Central Bank of Nigeria (CBN) has called on Deposit Money Banks (DMBs) in the country to act fast on the increase of their capital base in order to strengthen the financial system against potential risks. This was...

Again, CBN Jerks up Interest Rate to 24.75% The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate, MPR, it’s benchmark interest rate to 24.75% representing 200 basis points increase from 22.75% in February. The CBN Governor, Mr. Olayemi Cardoso, disclosed this at the...

Nigeria's Money Supply Reaches Record N95.56trn in Feb 2024 Nigeria's Broad Money Supply (M3) has reached a new record high of N95.56 trillion as of February 2024. This figure represents a 79.29% increase from the previous year, despite the Monetary Policy Committee (MPC)’s recent pronouncements. This figure...