CBN Freezes 15 Textile Smugglers Accounts       The Central Bank of Nigeria (CBN) has frozen the accounts of 15 textile smugglers across the country. Deputy Governor Corporate Services of the CBN Mr. Edward L. Adamu made this disclosure at a stakeholders meeting of Cotton, Textile and Garment...

Retirement Age Increase Aggravates Youth Unemployment — ABCON       Association of Bureaux De Change Operators of Nigeria (ABCON) has cautioned against increasing the retirement age stressing this works against policies aimed at reducing youth unemployment in the country. The Association stated this in its Quarterly Economic Review...

Economy Loses N900bn Credit, Private Sector Stagnates At N30trn       Credit to the economy fell by N900 billion or 2.27 percent in August driven by slump in credit to the government during the month. The Central Bank of Nigeria (CBN) disclosed this in its Depository Corporation...

Naira Gains N8 As Equities Make N778bn       The naira appreciated by N8 in the last one week at the parallel market and the equities market recorded major gains of N777.9 billion as oil prices picked up. The All Share Index (ASI) grew by N778 billion to...

CBN’s $450m Inflow To BDCs Stabilise Naira       The Central Bank of Nigeria (CBN) has injected over $450 million into the Bureau De Change (BDC) segment of the foreign exchange market to keep the naira stable. The dollar injections, which came after the apex bank resumed dollar...

Zamfara To Supply Gold To CBN For N5bn       The Central Bank of Nigeria (CBN) will give the Zamfara State Government N5 billion to supply gold to the apex bank, Governor Bello Muhammad Matawalle, has disclosed. He said his administration had established a gold reserve for the...