CBN To Sanction BDCs, Banks Rejecting Lower Dollar Bills       Deposit Money Banks (DMBs) and authorised Bureau De Change (BDC) operators who reject old and lower denomination of the United States dollar bills will be sanctioned, the Central Bank of Nigeria (CBN) said yesterday. A circular signed...

Nigeria’s Trade Deficit Rises By 49% To $2.5bn     The nation’s trade deficit rose month-on-month by 49 percent to $2.5 billion in January from $1.69 billion in December last year even as foreign trade stood at $8.14 billion during the period. Also capital importation dropped by 31...

Forex: CBN Asks Exporters To Repatriate Proceeds The Central Bank Governor, Godwin Emefiele, has urged exporters to repatriate export proceeds in order to boost foreign exchange inflow in the country. He spoke while making a presentation at Zenith’s Bank’s 2021 export seminar on Tuesday. Emefiele...

Consumer Credit Hits N1.6trn In January The value of consumer credit in the Nigerian economy fell by four per cent to N1.593 trillion in January 2021. The Central Bank of Nigeria (CBN) revealed this in its monthly economic report for January. It noted that at the aforementioned...

Higher Oil Prices Increase External Reserves By $409m The country’s external reserves returned to a growth path as it gained $409m in two weeks, latest figures from the Central Bank of Nigeria disclosed on Monday. According to the CBN’s figures on movement of reserves, the...

Manufacturing Sector Declines Further By 4.7 points — CBN The nation’s manufacturing sector has recorded further decline as the sustained Central Bank of Nigeria, CBN, latest sector report shows the Manufacturing Purchasing Managers Index (PMI) for January 2021 at 44.9 index points, a 4.7 points...