CBN Sells N756bn Treasury Bills – Afrinvest The Central Bank of Nigeria (CBN) sold Treasury bills worth N756bn last week following a subscription at its primary auction. The apex bank offered N530bn across 91-day, 182-day, and 364-day maturities, with oversubscription primarily driven by long-dated bills. Out of...

Food Import Gulps $1.8bn in Nine Months – CBN The Central Bank of Nigeria allocated $1.87bn for food imports in the first nine months of 2024, representing a $235.11m increase compared to the $1.64bn recorded in the same period of 2023. This marks a 14.37 per...

CBN Survey Reveals Optimistic Outlook for Naira in 2025   According to the Central Bank of Nigeria's (CBN) December 2024 Business Expectations Survey (BES), a significant majority of respondent businesses expressed a positive outlook on the nation's macroeconomic prospects, indicating a growing sense of optimism among Nigerian firms. Precisely,...

Nigeria's Foreign Exchange Reserves Drop $832m in Just Two Weeks   Nigeria's foreign exchange reserves experienced a substantial decrease in the first three weeks of January, plummeting by $832.62 million from January 6 to January 21. This sharp decline underscores the ongoing challenges in Nigeria's foreign...

The Central Bank of Nigeria (CBN) plays a pivotal role in ensuring this stability, and its policies, working in conjunction with others, should bring relief to the nation.

N160bn Debt: Nigerians to Lose Access to USSD in January - NCC The Unstructured Supplementary Service Data (USSD) of nine banks will no longer be supported by telecommunication firms due to N160 billion unpaid debt, according to Nigerian Communications Commission. These telcos, acting under NCC directive,...