CBN Introduces Bills To Mop Up Surplus Funds         The Central Bank of Nigeria (CBN) has introduced special bills as part of an effort to absolve excess liquidity and deepen the financial market, saying the move will avail it with an additional liquidity management tool. The circular...

Exporters, Agents Lament Difficulties In Obtaining CBN Proceeds Number       Nigerian exporters have lamented the difficulties and undue stress in obtaining the Nigerian Export Proceeds Number, a new procedure introduced by the Central Bank of Nigeria for non-oil exportation. The exporters and agents in separate interviews said...

Naira Bounces Back, Appreciates To N470/$ In Parallel Market       The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar. The naira had earlier depreciated by N30 against the dollar, as the parallel market...

CBN To Fund CNG Infrastructure With N250bn         The Central Bank of Nigeria (CBN) will make N250 billion available for infrastructure funding in a bid to expand gas use and cut reliance on imported fuel as government looks forward to offering free conversion to enable some...

Naira Abysmal Appreciation By Adefolarin A. Olamilekan       These are not the good times for the Nigerian Naira currency. The Nigerian economy, its Central Bank, the custodian of its monetary policy, which many of her citizens expects to engineer sound monetary policy that would have safeguard the...

CBN Boosts Dollar Supply With New Rules On Domiciliary Accounts, Remittance         In an apparent move to boost dollar supply into the economy, the Central Bank of Nigeria (CBN) yesterday introduced new rules that allow beneficiaries of diaspora remittance and transfers into domiciliary accounts to receive...