Tinubu Appoints Obazee To Probe CBN   President Bola Tinubu has appointed a Special Investigator to probe the Central Bank of Nigeria (CBN) and Related Entities. In a letter sighted by our correspondent, the president named Jim Osayande Obazee, ex-Chief Executive Officer, Financial Reporting Council of Nigeria...

CBN Limits Transactions On PAPSS By Dealer Banks To $200,000   The Central Bank of Nigeria (CBN) has limited the number of dollars to be transacted on the Pan-African Payment and Settlement System (PAPSS) to $200,000 per quarter by authorised dealer bank (ADB) and $20,000 per...

World Bank To Nigeria: Reduce Govt Borrowing From CBN   The World Bank Group has urged Nigeria to reduce government’s borrowing from the Central Bank if it wants to reduce the inflationary pressure on the economy. World Bank’s Lead Economist for Nigeria, Alex Sienaert, stated this on...

Naira Gains, Closes At N791/$ In Official Market   The naira yesterday recorded marginal gain of N1 to close at N791/$ in the official Investors and Exporters (I&E) window. The local currency closed at N792/$ at the official window on Monday however continued depreciation at the parallel...

New Naira: Gradual Phasing Out Of Old Notes Continues, Says CBN   The Central Bank of Nigeria (CBN) has reaffirmed its commitment to gradually phase out the old N200, N500, and N1,000 naira notes while issuing new currencies. This announcement was made by the acting governor of...

No Plan to Unify Exchange Rate - CBN   The Central Bank of Nigeria (CBN) has denied that its recent forex liberalisation policy was aimed at unifying the exchange rate. Fielding questions from journalists after the two-day Monetary Policy Committee (MPC) meeting on Tuesday, the acting CBN...