The Central Bank of Nigeria (CBN) has warned that rising election-related spending and potential oil price shocks could pose upside risks to Nigeria’s inflation outlook.

Nigeria’s gross external reserves have climbed to $50.45 billion, making the highest level in 13 years, the Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, has said.

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has explained the rationale behind the $706.84 million foreign capital inflow into Nigeria.

Nigeria’s banking sector recapitalisation programme has entered its decisive phase, with a total of ₦4.05 trillion in verified capital raised.

JUST IN: CBN Cuts Interest Rate to 26.5%   The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has reduced the Monetary Policy Rate (MPR) to 26.5 per cent, marking the second rate cut in five months. The decision was announced on Tuesday by the...

Naira Reaches Two-Year Peak kf N1,347/$   The naira has strengthened sharply in recent weeks, reaching one of its strongest levels in nearly two years, even as rising foreign portfolio inflows increase the risk of investor profit-taking later in the year, according to a macro update...