Currency in Circulation Hit N2.9trn In 2020 – CBN           Currency in circulation rose by N249bn from N2.66tn as of the end of November to N2.91tn in December 2020. The data was obtained from the Central Bank of Nigeria on Sunday. The CIC rose from a figure of...

In Three Months, Forex Inflow Through CBN Hits $6.97bn           Foreign exchange inflow through the Central Bank of Nigeria in the third quarter of 2020 stood at $6.97bn. The CBN disclosed this in the third quarter economic report. It said, “Foreign exchange inflow through the Central Bank of...

Banks Should Obtain Borrowers’ Records From Credit Bureaus – CBN         The Central Bank of Nigeria has instructed lending institutions to obtain reports of borrowers from credit bureaus as part of their due diligence in granting loans. It also said the operations of private credit bureaux would...

Nigeria’ll Record Growth Amid Fiscal Imbalances - Report         Nigeria will return to growth path in 2021 but external and fiscal imbalances will pose downside risks to the economy. Sigma Pensions Limited stated this in its report released on Monday titled ‘Nigeria 2021 outlook: A return to...

CBN Defends Naira With $4.37bn In Three Months         The Central Bank of Nigeria injected $4.37bn into the foreign exchange market in the third quarter of 2020 as part of efforts to ensure the stability of the naira. The CBN disclosed this in its third-quarter economic report. The...

CBN Fixes N2bn Capital For Mobile Money Operators           Mobile Money Operators (MMOs) are to maintain a minimum of N2 billion capital base, the Central Bank of Nigeria (CBN) has directed in a circular signed by its Director, Payments System Management Department, Musa Jimoh. They have also...