CBN Set To Establish Nigerian International Financial Centre             Nigeria is to establish the Nigerian International Financial Centre (NIFC) modelled after New York, London and Singapore financial powerhouses, as a round-the-clock financial centre. This financial house, to be established and driven by the Central Bank of Nigeria...

CBN Projects 3% GDP Growth           The Central Bank Governor, Godwin Emefiele, has said that the country’s Gross Domestic Product can rise to three per cent by the end of 2021. He spoke during the 14th annual Chartered Institute of Bankers of Nigeria’s banking and finance conference...

Naira Crashes To N550/$1 In Parallel Market             The naira on Monday suffered a major setback, losing N5 to close at N550 to dollar at the parallel market. The currency has been under pressure for nearly two weeks, losing significantly at the official and parallel markets due...

CBN Fixes Oct For launch Of N15trn Infrastructure Fund           The Central Bank of Nigeria announced that InfraCorp Plc, the N15trn Infrastructure Fund which will boost funding for capital projects, will be launched in October. The CBN Governor, Godwin Emefiele, disclosed this on Tuesday in Abuja at...

CBN Says Non-performing Loans Are Declining But Remain Above Benchmark             The non-performing loans in the banking sector slightly declined from 5.8 per cent in May to 5.7 per cent in June, showing more resilience in the banking sector. The Central Bank of Nigeria disclosed this in...

MAN Seeks Preferential Forex Allocation       The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to ensure that adequate foreign exchange (forex) is allocated to the manufacturing sector through a preferential arrangement to enable the sector import raw materials and machinery that are...