Naira Gains, Records N25 At Black Market   Naira has launched a sustained recovery at the parallel market, gaining N25 since it fell to its lowest of N575 to a dollar on September 20, 2021. A survey at the Bureau De Change (BDC) market in Wuse Zone...

In One Year, Nigerian Banks Lend Private Sector N4.1trn   The Nigerian banking sector’s credit to the private sector rose by N4.1tn or 13.8 per cent between September 2020 and September this year. The CBN’s money and credit statistics report showed that in September 2020, bank’s credit...

Increase In Crude Price To Boost Economy – Emefiele   Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the sustained increase in the price of crude oil would boost the Nigerian economy in 2022. A statement yesterday, said the positive outlook for the...

Anchor Borrowers: Farmers Owe CBN N463bn As Defaults rise   Farmers who subscribed to the Central Bank of Nigeria’s Anchor Borrowers’ Programme owed the apex bank N463bn as of the end of March 2021, data from the CBN Economic Report for April have shown. The ABP was...

CBN Pushed N2.907trn Cash Into Circulation In 2020   Despite the rising inflation, the Central Bank of Nigeria (CBN) allowed about N2.907 trillion or 19.06 percent more currency in circulation in the economy as at end-December 2020 compared to the N2.441.67tr currency in circulation at end...

Foreign Currency Inflows Dropped To $1.83bn In 2020   The Central Bank of Nigeria (CBN) has disclosed that it recorded a significant reduction in the volume and cost of foreign exchange procurement in 2020, the year of COVID, when the entire world was on lockdown and...