Capital Inflow Crashes By 80% As Foreign Investors Shun Nigerian Market   Capital inflow to Nigeria has crashed by 80 per cent in two years, the Central Bank of Nigeria reports have indicated. Specifically, capital inflow to Nigeria fell from $17.1bn in July 2019 to $3.4bn in...

Naira Slides To 555/dollar In Parallel Market   The naira lost steam at the parallel market on Monday, sliding to 555 per dollar. The local currency had crashed to 540/dollar on Friday, after trading at 535/dollar on Thursday. After tumbling to 575/dollar recently, the local currency began a...

eNaira’ll Work With Other Countries’ Digital Currencies – CBN   The Central Bank of Nigeria has said that the implementation of the country’s digital currency will be done in four phases and also lead to the interoperability of the eNaira with those of other central banks. The...

Trade Deficit Declined To $340m In July – CBN   Nigeria’s trade deficit declined to $340m in July from $2.4bn in June, figures obtained from the Central Bank of Nigeria revealed on Sunday. The apex bank disclosed in its July economic trade performance report that the improvement...

Net Foreign Exchange Inflow Drops By 31% To $21.8bn   The members of the Central Bank of Nigeria’s, CBN, Monetary Policy Committee, MPC, have called on the apex bank to carry out a comprehensive review of the foreign exchange market operations in the country to determine...

IMF To CBN: eNaira May Reduce Deposits In Commercial Banks   The International Monetary Fund has said the eNaira wallet may function as a deposit at the Central Bank of Nigeria and consequently reduce demand for deposits in commercial banks. The comment came barely four weeks after...