In One Month, CBN's FX Programme Rakes In $60m The Central Bank of Nigeria's (CBN) forex programme has raked in $60 million after one month of active implementation. Managing Director of Fidelity Bank, Nneka Onyeali-Ikpe, made this known while briefing the media at the end of...

CBN Warns Nigerians Against Illegal Financial Institutions   The Central Bank of Nigeria has warned individuals to desist from dealing in illegal financial schemes or with illegal financial institutions that are not licensed or recognised by it. According to the bank, it is doing all it...

Despite Forex Shortage, Nigeria’s Imports Increase By N12.11trn   According to the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) data, Between 2016 and 2021 Nigeria’s import bill rose from N8.73trn to of N20.84trn. This implies that within the five-year period, imports...

Banks Borrowing From CBN Decline By 0.45% In Q1, 2022   Banks borrowing from the Central Bank of Nigeria (CBN) dropped marginally by 0.45 per cent to N1.35 trillion in the first quarter of 2022 compared to N1.36 trillion reported by the apex banking regulating body...

Mutilated Notes: CBN Expresses Concern, Imposes Heavy Sanctions   The Central Bank of Nigeria has expressed concern over the increasing amount of mutilated banknotes deposited with the apex bank by Deposit Money Banks. To this end, the CBN has warned banks to stop including composed currency notes...

Fed Govt’s Borrowing From CBN Rises By 96.54%, Now N18.16trn   The Federal Government’s total borrowing from the Central Bank of Nigeria through Ways and Means Advances has risen by 96.54 per cent or 8.92tn in two years, data collated from the CBN have shown. It rose...