CBN Boosts Economy With N8.8trn To Battle COVID-19         The Central Bank of Nigeria (CBN) has injected more than than N8.8 trillion into the economy since the advent of COVID-19 in March last year. Its Governor Godwin Emefiele who dropped the hint in Abuja at the end...

High Recurrent Expenditure Raises Debt Servicing Challenges - CBN         The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja. It also retained...

Dollar Remittances: CBN To Ban Defaulting Exporters         Banks’ Chief Executive Officers (CEOs) have been asked to compile and submit to the Central Bank of Nigeria (CBN) the names of exporters with unremitted foreign exchange (forex) proceeds. The submission is to prepare the ground for the expulsion...

FG Deficit Rose By 17% To N4.45trn In 10 Months         The Federal Government (FG) recorded N4.45 trillion deficit spending in ten months to October 2020, up by 17 percent, year-on-year (y/y), against N3.8 trillion recorded in the corresponding period of 2019. The sharp increase in deficit...

CBN's Battle Over Non-conformist Diaspora Remittance Continues       Despite efforts by the Central Bank of Nigeria (CBN) to stimulate activities in the formal channels of diaspora remittances, the window has continued to battle with its historical challenges, including rising competition with informal windows, poor regulatory compliance...

Inflation, Economic Recovery Top Agenda As MPC Meets         As the Monetary Policy Committee of the Central Bank of Nigeria (CBN) meets today to commence its two-day meeting, the deliberation is expected to be centered around how to tame inflationary pressure in the country and measures...