New FX Rule To Begin Aug 1 - CBN   The Central Bank of Nigeria has announced that the provisions of the revised Foreign Exchange Manual shall take effect from August 1,2018. A circular to Authorized dealer banks and the public, signed by the Director, Trade and...

MPC Maintains Status Quo As Investors Lose N93 Billion   •Analysts call for caution on investment decisions The decision by the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), to maintain status quo for the tenth consecutive session triggered renewed profit-taking at the Nigeria Stock Exchange...

Farmers/Herders: CBN Warns Over Food Prices   The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday called on the Federal Government to address the crisis between farmers and herders, warning that if left unchecked, it would exert inflationary pressure on the economy. The committee...

Discos: We Were Eligible To Only N58bn Of CBN’s Power Sector Fund   The electricity distribution companies (Discos) have said the Central Bank of Nigeria (CBN) reserved just about N58.45 billion or 27.75 per cent of its N213 billion power sector intervention fund for the Discos,...

MPC: Experts Predict Rise In Inflation, Unchanged Rates   Financial and economic experts have said the Monetary Policy Committee of the Central Bank of Nigeria will likely leave the Monetary Policy Rate, also known as the benchmark interest rate, unchanged at the end of its two-day...

CBN Returns N65bn Illegal Deductions To Bank Customers   The Central Bank of Nigeria says it has recovered over N65bn from commercial banks in the country for wrongful deductions and charges from customers’ deposits and other transactions in the last six years. The Acting Director, Corporate Communications,...