In Three Weeks, External Reserves Gain $3.98bn, Hit $40.76bn   Nigeria’s external reserves gained $3.98bn in three weeks, rising above the $40bn mark, according to data obtained from the Central Bank of Nigeria. The CBN data showed that the reserves rose to $40.76bn on October 20 from...

Reps Threaten Bank With Takeover Over Debt   The House of Representatives, on Thursday, threatened that it will ask the Central Bank of Nigeria to take over the ownership of Heritage Bank of Nigeria for owing the Federal Government more money than its entire share capital. The...

CBN Intiates N500m Grant For Undergraduates, Graduates   The Central Bank of Nigeria has said it will support youths in tertiary institutions with grants to promote entrepreneurship and reduce unemployment. The CBN disclosed this on Wednesday in a report, titled ‘Guidelines for the implementation of tertiary institutions...

Steady Rise In Oil Price Pushes Foreign Reserves To $39.5bn   Nigeria’s foreign reserves have climbed to $39.5 billion on the back of steady rise in crude oil prices and drawdown on international loans. The Brent crude, the global benchmark, was up by 85 cent to trade...

Currency In Circulation Rises To N2.84trn - CBN   The currency in circulation rose by N58.36bn to N2.84tn in September from N2.79tn in August, the latest figures obtained from the Central Bank of Nigeria showed on Sunday. The currency in circulation rose to N2.81tn in July from...

CBN Backs Lagos Rail Project With N60bn Fund   The Central Bank of Nigeria has said it is supporting the Blue Rail Line project in Lagos with N60bn intervention fund. The Director, Development Finance, CBN, Yusuf Philip, disclosed this in Lagos on Thursday, during an inspection of...