CBN Cash Withdrawal Limit Begins Today   The Central Bank of Nigeria’s policy on restriction on daily cash withdrawal takes off across the country today, Monday, January 9. Economic Confidential reports that in this arrangement, the maximum weekly limit for cash withdrawals across all channels by individuals...

Net Forex Inflow Drops By 47% To $25bn   Net foreign exchange, forex, inflow to the economy fell 47 per cent, year-on-year, YoY, to $25.05 billion in 10 months to end of October last year. The decline was driven by a 27 per cent fall in forex...

JUST IN: NFIU Announces Total Ban on Cash Withdrawals from Government Accounts   The Nigeria Financial Intelligence Unit (NFIU) has announced the prohibition of cash withdrawals from accounts belonging to the federal government, its agencies or parastatals, as well as state and local governments. Addressing journalists in...

E-Transactions In Nigeria Now 3.5bn, Ranked 6th Globally   Following various policies by the Central bank of Nigeria (CBN) to boost cashless economy, analysts have noted that electronic transactions in Nigeria peaked at 3.5 billion in 2022, thus ranking Nigeria number 6 globally. Also, going into 2023,...

External Reserves Drop By $3.43bn In 2022   Nigeria’s external reserves dropped by $3.43bn in 2022, according to figures obtained from the Central Bank of Nigeria. The CBN disclosed in its movement on external reserves figures that the reserves which stood at $40.52bn as of the end...

Banks Borrowed N11.01trn From CBN In 2022   Deposit Money Banks (DMBs) and Merchant Banks borrowing from the Central Bank of Nigeria (CBN) discount window known as the Standing Lending Facility (SLF) dropped to N11.01trillion in 2022, representing a decline of 15 per cent from N13.01...