CBN Halts Export Proceeds Repatriation Extension The Central Bank of Nigeria (CBN) has suspended approvals for the extension of export proceeds repatriation on behalf of exporters, effective immediately. This directive, issued via a circular dated January 8, 2025, applies to both oil and non-oil export transactions. The...

How CBN's Voluntary Early Exit Program is Revolutionizing Performance, by Rahma Olamide Oladosu   In response to widespread criticism, the Central Bank of Nigeria (CBN) recently affirmed that the departure of 1,000 employees in December 2024 stemmed from a fully voluntary process through its Voluntary Early...

Nigeria's Capital import Rises 224% to $9.04bn Capital importation rose by 224 percent year-on-year, YoY, to $9.04 billion in the first 10 months of 2024 (10m’24) from $2.9 billion in the same period of 2023, indicating increased foreign investment in the country. Data analysis from the...

33 Former CBN Workers Seek N30bn Compensation for Wrongful Termination   A group of former Central Bank of Nigeria employees, who were let go in a large-scale restructuring effort last year, have filed a lawsuit against the apex bank at the National Industrial Court of Nigeria...

Nigeria's IMTO Inflows Jump by 63.7% in Nine Months - CBN   According to the Central Bank of Nigeria (CBN) the country witnessed a significant surge in international money transfers, with inflows from International Money Transfer Operators (IMTOs) rising by 63.7% during the first nine months...

Federation Account grew by 7.48% in Q3 2024 Money flowing into Nigeria’s federation account grew to N6.86 trillion in the third quarter of 2024, according to a new Economic Report from the Central Bank of Nigeria (CBN). This was a 7.48 per cent increase from the...