CBN Slashes Treasury Bills Sale By 62% To N7.77trn         The Central Bank of Nigeria sold N7.77 trillion worth of secondary market (Open Market Operations) treasury bills in 2020, down by 62 percent from N13.92 trillion sold in 2019. Secondary market (Open Market Operations, OMO) treasury bill...

Naira Officially Trades At N402/$       The naira traded officially at N402/$ at the Investors & Exporters’ forex window on Thursday. Trading which commenced at an opening rate of N392.88/$, recorded a high of N402/$ and a low of N385/$. It, however, pegged the Central Bank of Nigeria’s...

External Reserves Rise, End Year At $35.35bn       The country’s external reserves rose by $380m from $34.98bn as of December 24 to $35.36bn as of the end of December 2020, according to figures obtained from the Central Bank of Nigeria on Wednesday. According to the figures, the...

Default On Loans With Collateral Worsened In Q4, 2020 – CBN         The default on loans with collateral worsened in the fourth quarter of 2020, according to the Central Bank of Nigeria. The statistics department of the CBN disclosed this in its fourth quarter ‘Credit condition survey...

Nigerians Displeased With Inflation Control Measures - CBN         In what could be interpreted as an admission of its shortcomings and self-indictment, the Central Bank of Nigeria (CBN) has admitted that Nigerians are displeased with the management of the country’s inflation. Experts had balked at efforts taken...

Diaspora Remittances Into Nigeria Drop By 27% To $12.9bn         Diaspora remittances into Nigeria fell by 27 percent, year-on-year (y/y) to $12.9 billion as at September 2020 from $17.6 billion in the corresponding period of 2019. The 27 percent decline is 3.9 percentage points higher than the...