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...

Naira Continues to Strengthen, CBN Sells N1,251 per Dollar The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change operators (BDCs), informing them that it has sold $10,000 to each BDC at a rate of N1,251/$1. In a circular issued by the...

Naira Continues to Strengthen, CBN Sells N1,251 per Dollar The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change operators (BDCs), informing them that it has sold $10,000 to each BDC at a rate of N1,251/$1. In a circular issued by the...

Nigeria’s Debt Servicing Expense Doubles to N7.8tn in 2023 – Report Nigeria spent a sum of N7.8 trillion to service its debt obligations in 2023, a 121% increase compared to N3.52 trillion incurred in the previous year. This is according to analysis of data released by...