Nigeria’s Foreign Reserves Hit $46 Billion   Nigeria’s Foreign Reserves are steadily heading towards the $50 billion mark, berthing at $46 billion as at the close of business on Friday, March 9, 2018. Figures obtained from the Central Bank of Nigeria (CBN) at the weekend indicate that...

CBN, External Reserves Hit $43.2bn   The nation’s external reserves hit $43.2bn on March 6, 2018, data obtained from the Central Bank of Nigeria showed on Wednesday. The foreign exchange reserves had recorded a four-year high at $42.76bn on March 2, after commencing this year at $38.77bn. The...

CBN Must contain Rising Banking Sector Risks, Says IMF …seeks More Ambitious Tax Reforms, Increase In Excise Duties The International Monetary Fund on Wednesday called on the Central Bank of Nigeria to contain rising banking risks in the country, while also commending the regulator for its...

Inflation Threatens CBN’s Rate Cut Plan The Central Bank of Nigeria’s Monetary Policy Committee’s long-awaited interest rate-cutting cycle risks being short-lived, if it starts at all. The CBN Governor, Godwin Emefiele, had said last month that the MPC might reduce its benchmark interest rate from the...

Again, CBN warns On Virtual Currencies The Central Bank of Nigeria (CBN) has again cautioned Nigerians to be wary of investments in cryptocurrency, stressing that virtual currencies are not legal tender in Nigeria. A press release issued by the Bank and made available to Economic Confidential...

CBN Extends N200bn Commercial Agric Fund To Non-Interest Banks   The Central Bank of Nigeria (CBN) yesterday said that Non-Interest Financial Institutions (NIFIs) can now participate in the N200 billion Commercial Agricultural Credit Scheme (CACS). The CBN disclosed this in the revised guidelines for the scheme...