Naira Remains Under Pressure Despite Increase In Forex Reserves   The naira remained under pressure across official and parallel markets despite continuing increase in Nigeria’s foreign exchange (forex) reserves. The naira depreciated by 0.2 per cent at the official Investors and Exporters (I & E) Window and...

Four Months After Launch, Major Vendors Shun eNaira   Despite the high expectations and hype around the Central Bank of Nigeria’s digital currency- the eNaira- major retailers and vendors in the country are yet to adopt it over four months after launch. Following months of publicity by...

External Reserves Slides To Four Months Low At $39.98bn   The external reserves have fallen below the $40bn mark to the lowest point in over three months, figures from the Central Bank of Nigeria have revealed. The reserves dropped to $39.82bn on February 2, 2022 from $40.53bn...

Commercial Loans To Govt Hit N13.7trn    Commercial loans to Nigeria’s public sector rose from a moderate N4.88 trillion to N13.73 trillion in five years (from December 2016 to the end last year), raising concern about the increasing exposure of banks to the government. The leap –...

243 Firms Push For CBN’s Multibillion Naira Loan Scheme   Following applications by 243 firms with projects valued at N321.06bn for the 100 by 100 loan scheme, the Central Bank of Nigeria has disbursed a total of N23.2bn to 28 firms whose projects satisfied the apex...

Reps, NACCIMA Urge CBN To Halt Implementation Of e-invoicing For Import, Export   The House of Representatives and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) yesterday asked the Central Bank of Nigeria (CBN) to immediately suspend the implementation of the guidelines...