FG Spending: Money Supply Rise By 31.62% To N64.36trn   Following the growth in proceeds from the Federation Account Allocation Committee (FAAC) to the three tiers of government, money supply or M2 surged to an unprecedented N64.36 trillion last month, marking a significant 31.62 per cent...

Dollar Exchanges For N876/$ As Forex Shortage Worsens   The naira maintained its downward trend against the dollar as it traded for 876/$ at the parallel market on Sunday. Some Bureau de Change operators said the local currency had earlier exchanged to the dollar at 820 a...

Banks’ Credit To Economy Rises By 11% To N84trn   Banks’ net domestic credit to the economy has hit N84 trillion representing an 11 percent Month-on-Month, MoM, rise fromN75.49 trillion in May. The breakdown, according to the Money and Credit Statistics of the Central Bank of Nigeria,...

Naira Recovers, Exchanges For N742/$   The naira rebounded yesterday to N742/$ in the Investors and Exporters (I&E) Window- official market. The rate represents N53/$ gain from at N795.2/$ it closed on Monday. The rate at the parallel market was N812/$, which was stronger than N820 it...

CBN Withdraws 2,698 BDCs Licences In One Year   The Central Bank of Nigeria (CBN) has released an updated list of Bureau de Change (BDCs) dealers approved in the country. According to the list published by the apex bank, the total number of approved BDC operators reduced...

We Recovered N471.82bn Intervention Loans In Six Months – CBN   The Central Bank of Nigeria (CBN) has said it recovered N471.82bn as cumulative repayment from the bank’s intervention programmes in the first half of 2022. According to the apex bank’s half-year report for 2022, the recovery...