CBN Devalues Naira To N410.25/$1         The Central Bank of Nigeria (CBN) has devalued the naira to N410.25 to dollar. The devaluation of the local currency was confirmed by the adoption of the Nigerian Autonomous Foreign Exchange Rate (NAFEX), also known as the Investor and Exporter (I&E)...

Banks Credit To Economy Now N23.53trn       Banks’ credit to the economy rose to N23.53tn as of the end of March, latest figures from the Central Bank of Nigeria have shown. The CBN disclosed in its communiqué at the end of the Monetary Policy Committee on Tuesday...

CBN Retains Lending Rate, Says Economic Recovery Still Fragile       The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, who disclosed this after the committee’s two-day meeting in Abuja also...

Currency In Circulation Drops By N10bn       Currency in circulation dropped by N10bn from N2.81tn as of the end of March to N2.8tn as of the end of April, latest statistics from the Central Bank of Nigeria showed on Monday. According to figures from the CBN, the...

In Three Months, 12 Nigerian Banks Lend Customers N690bn       The combined loan portfolio of 12 commercial banks in Nigeria rose by N690bn in the first three months of this year, data collated from their unaudited financial statements show. The loans and advances to their customers grew...

Credit To Private Sector Rises To N31.822trn       Banking sector credit to the private sector increased year-on-year by N382 billion to N31.823 trillion as of April, up from the N31.440 trillion it was as at the end of March. The data were compiled from the latest Central...