Foreign Exchange Inflow Rises To $23.60bn       Aggregate foreign exchange inflow into the country in the fourth quarter of 2020 rose to $23.60bn from $21.46bn in the third quarter, figure from the Central Bank of Nigeria revealed on Tuesday. The CBN stated in its report on ‘Foreign...

FG Recorded N1.48trn Fiscal Deficit In Q4, 2020 – CBN     The Federal Government recorded an estimated fiscal deficit of N1.48tn in the fourth quarter of 2020, figures obtained from the Central Bank of Nigeria revealed on Tuesday. The CBN disclosed in its economic report for the...

CBN, NIBSS Launch Quick Response Code To Boost Financial Inclusion       The Central Bank of Nigeria (CBN) and the Nigeria Interbank Settlement System Plc (NIBSS) and all deposit money banks (DMBs) have collaborated to launch the NQR, a Quick Response (QR) Code-driven payment solution to aid...

InfraCorp: CBN Extends Deadline For Expression Of Interest By Two Weeks       The Central Bank of Nigeria has extended the deadline with respect to call for expressions of interest for appointment as independent infrastructure asset manager for the Infrastructure Corporation of Nigeria Limited. It stated this in...

BDC Operators Declare War Against Currency Speculators       The Central Bank of Nigeria (CBN)-licensed Bureau De Change (BDC) operators have declared operational war against foreign exchange speculators and black market dealers whose activities they accused of distorting the foreign exchange (FX) market. This came as the dollar...

Despite New Dollar Policy, Naira Weakens To N484/$1       The naira yesterday exchanged at N484/$1 at the parallel market. The rate is N4 weaker than N480/$1 it exchanged before the Central Bank of Nigeria began the implementation of its new ‘Naira for Dollar Scheme” on Monday. The naira...