Travellers To Access $4,000 As CBN Boosts Forex Supplies   Nigerians travelling abroad can access a maximum amount of $4,000 foreign exchange from the banks following the Central Bank of Nigeria’s announcement to increase forex supplies. Sources from some of the banks said those travelling on business...

CBN Seeks To Slash Importation Bill By 35%       The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said efforts are ongoing to reduce the country’s import bill by about 35 per cent. He said President Muhammadu Buhari’s insistence about five years ago...

Despite CBN’s Defence Measures, Naira Tumbles By 51.95%       The value of the naira to the dollar fell from 196.99 in December 2015 to 410 in April 2021, reflecting a 51.95 per cent decline despite the various foreign exchange policies introduced by the Central Bank of...

'Nigerian Govt’s Reliance On CBN Financing Worrisome'       The Nigerian government’s reliance on the Central Bank of Nigeria for the financing of budget deficits is certainly worrying, a London-based economic research firm has said. Capital Economics, in its ‘Africa Economics Focus’ released on Monday, said the government...

Investments In FG’s Treasury Bills Weaken, Sales Fall 19% To N1.35trn       Investors’ interest in the Federal Government’s monetary instrument, the Nigeria Treasury Bill (NTB) has recorded a significant decline with 19 per cent, year-on-year, YoY, decline in sales to N1.35 trillion in the first five...

BDC Directors Urge CBN To Review N2 Margin       Bureaux De Change (BDC) directors have called on the Central Bank of Nigeria (CBN) to increase the sales margin of BDCs noting that the N2 margin presently allowed by the apex bank is inadequate. They said the call...