CBN Threatens Prosecution Of Forex Policy Defaulters       Banks have warned that defaulters of the new foreign exchange policy may face criminal prosecution by the Central Bank of Nigeria. The banks in emails to their customers said that defaulters of the new FX foreign exchange policy may...

Anchor Borrowers: CBN Incurs N379bn Debt As Farmers Battle Insecurity       The Central bank of Nigeria recorded a shortfall of N378.5bn in loan repayment by beneficiaries under the Anchor Borrower’s programme in six years, data obtained from the findings apex bank have shown. Between November 2015, when...

25 Banks’ Profits Fall By N482bn As CBN Restricts N9.5trn Deposits       Twenty commercial banks and five merchant banks’ profits dropped by N482 billion in 12 months over N9.5 trillion cash restriction policy implemented by the Central Bank of Nigeria (CBN), the 2021 Banking Industry Report...

Forex Transactions At I&E Window Drop By 24.56%       Foreign exchange transactions at the Investors’ & Exporters (I&E) window declined by 24.56 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...

In Six Months, Food Imports Gulped $1.04bn - CBN       The foreign exchange supplied by the Central Bank of Nigeria for the importation of food products into Nigeria rose by 23.81 per cent to $1.04bn in the first half of this year, compared to the same...

FG Owes CBN N15.51trn, Borrows N14.86trn Under Buhari's Regime       The Federal Government’s total borrowing from the Central Bank of Nigeria through Ways and Means Advances has ballooned to N15.51tn, rising by 2,286 per cent in six years, data collated from the CBN have shown. The N15.51tn...