We cannot be certain whether Nigerians should celebrate or decry the recent decision by the Central Bank of Nigeria to reduce the existing annual limit on naira debit cards used abroad, from $150,000 to $50,000 per person. Nonetheless, the enabling directive to commercial banks to...

The Central Bank of Nigeria (CBN) is expected to settle  OTC FX Futures contract to the tune of $270.6 million on the interbank market this Wednesday. The transaction to be settled on the FMDQ OTC Securities Exchange would be the fourth futures contract to mature...

The decision by a number of commercial banks to stopped their naira cards from dispensing dollars via ATMs to customers in foreign countries as well as the use of naira debit or credit cards for online transactions priced in foreign currencies, will impact negatively...

• Duty paid value N774.2m • Govt targets 2017 for rice sufficiency The Nigeria Customs Service (NCS), impounded 117,034 (50kg) bags of rice with duty paid value of N774,282,300 in the first three quarters of this year, the Comptroller-General, Col. Hameed Ali (rtd), has said. Speaking at...

Latest figures from the Central Bank of Nigeria, CBN, shows that the country’s external reserve has lost a total of USD5.5 billion this year, up to last weekend, with September figures showing a third quarter loss of USD1.9 billion, significantly higher than USD1.5 billion...

The 252nd Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN) has agreed  to retain all three monetary policy indicators at the current rates  as part of efforts to encourage capital inflows. Speaking to newsmen after  48 hours meeting in Abuja, Central...