In Five Months, CBN Defended Naira With $7.6bn   The Central Bank of Nigeria injected $7.6bn into the economy to stabilise the value of the naira in five months. This was obtained in the banking regulator’s monthly economic reports on foreign exchange market developments. According to the reports,...

eNaira: Changing the Narrative of Financial Transactions in Nigeria, by Abbas Badmus   The idea of eNaira comes from the ever-expanding developments in digitalization and the need for a secured means of effecting transactions accross borders. eNaira is a Central bank digital currency issued and regulated by...

Currency In Circulation Drops To N3.24trn   Currency in circulation fell by N107.08bn from N3.35tn in April to N3.24tn in July, latest figures on currency from the Central Bank of Nigeria has revealed. According to the CBN, the CIC which stood at N3.33tn in May fell to...

CBN Moves Against Defaulting Anchor Borrowers   The Central Bank of Nigeria (CBN) has moved against beneficiaries of its Anchor Borrowers Programme who have failed to pay back their loans. The NIRSAL Microfinance Bank Limited (NMFB), has published the names of some of the borrowers with the...

Commercial Banks Borrow N4.4trn From CBN In Three Months   Deposit money banks (DMBs) accessed an accumulated value of N4.4 trillion from the Central Bank of Nigeria (CBN) through its overnight lending window from June to August, data sourced from the regulator suggested. Banks regularly access the...

In Five Years, Wheat Imports Gulped $6bn – FG   The Federal Government, on Tuesday, said Nigeria spent $6bn on the importation of wheat into the country between 2016 and 2020, a period of five years. Minister of Agriculture and Rural Development, Mahmood Abubakar, disclosed this at...