CBN Appoints Eight New Directors     The Central Bank of Nigeria (CBN) on Wednesday announced the appointment of new directors as the heads of its various departments. In a circular, the apex bank announced Mr Osita Nwanisobi as its Director, Corporate Communications Department, with effect from August...

External Reserves Near $34bn, Gain $500m In One Week       Nigeria’s external reserves rose by $500m in one week to the highest point in more than two months, according to the latest data from the Central Bank of Nigeria. The reserves, which have been wobbling in recent...

CBN Moves Against Violators Of New Forex Policy       The Central Bank of Nigeria (CBN) yesterday directed all banks to henceforth publish on their websites the names and Bank Verification Numbers (BVN) of unscrupulous customers who indulged in sharp practices to circumvent its new foreign exchange...

Naira Drops To All-time Low Of 527/$     The naira extended its decline on Monday, sliding to an all-time low of 527 against the dollar at the parallel market. The local currency, which has been on a downward trend in recent weeks, fell to 524 against the...

Forex Transactions At I&E Window Rises By 59.37%       Foreign exchange transactions at the Investors’ & Exporters (I&E) window increased by 59.37 per cent last week, according to FMDQ Securities Exchange Limited. The Central Bank of Nigeria had in April 2017 amid severe forex scarcity created the...

Credit To Private Sector Increases By 6.68% To N32.8trn       With a significant percentage given to large corporates, multinationals and high end medium enterprises and no noticeable impact on the real sector, which concerns production, purchase, flow of goods and services, credit to private sector maintain...