CBN Knocks Commercial Banks For Shunning eNaira     The Central Bank of Nigeria on Wednesday knocked commercial banks across the country for not promoting the e-Naira launched with fanfare by President Muhammadu Buhari in October, 2021. The apex bank also explained the operational benefits of its newly...

Banks’ Borrowing From CBN Rises To N24.53trn In 11 Months     The scarcity of liquidity has forced banks and merchant banks to aggressively depend more on the Central Bank of Nigeria (CBN) for short-term liquidity needs, leading to N24.53 trillion borrowing from the apex bank between...

Mushroom Growers Seek Inclusion In CBN Programme, Target $45.3bn Market     The National Mushroom Growers, Processors and Marketers Association of Nigeria has called on the governments to address challenges hindering growth in the mushroom subsector in the country. This, it said, would enable mushrooms producers to benefit...

In 7 Months, CBN Sold $867.68m Forex To SMEs     The Central Bank of Nigeria, CBN, has raised the volume of foreign exchange sales to the Small and Medium Enterprises (SMEs) category businesses by 31 percent in the first seven months of this year (January to...

CBN Automates Non-commercial Exports Form For Dealers   The Central Bank of Nigeria said on Monday that it had automated the Non-Commercial Exports form for stakeholders in the business sector. The CBN disclosed this in a circular, which was signed by the Director, Trade and Exchange Department,...

Nigeria’s Exchange Rate Strategy Discourages Investors, Increases Inflation – W/Bank   The World Bank says the Nigerian government’s exchange rate management policies are discouraging investments and fuelling inflation in the country The bank disclosed this in the November edition of its Nigeria Development Update. While highlighting the role...