CBN To Sanction Customers Converting Naira To Dollar   The Central Bank of Nigeria (CBN) yesterday read the riot act to bank customers, especially politicians, converting naira to the dollar as electioneering spending spike. The CBN, which also raised interest rate from 13 per cent to 14...

$10bn Spent Annually On Education, Medical Tourism - Emefiele   The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele yesterday said $10 billion is spent annually on medical and education tourism. Speaking during the Monetary Policy Committee (MPC) meeting in Lagos, he said education and health sectors...

CBN Raises Interest Rate to 14% as Inflation Hits 18.6% The Monetary Policy Committee of the Central Bank of Nigeria has increase the benchmark interest rate (monetary policy rate) from 13% to 14%. This was disclosed by the Governor of the CBN, Godwin Emefiele, while reading...

CBN Loans Banks N595.34bn in Two Months   The Central Bank of Nigeria monthly economic report has revealed that banks borrowed N595.34bn from the CBN between January and February. The report showed that while N333.59bn was borrowed through the Standing Lending Facility in January, the amount reduced...

In Three Years, I&E FX Window Attracted Over N50bn Investments - Emefiele The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, says the investors and exporters (I&E) window attracted over $50 billion in investments to the country within three years. Emefiele revealed this at the opening...

Buhari Justifies Emefiele's 'Unorthodox Policies,' Defends Decision not to Sack CBN Boss over Politics   President Muhammadu Buhari has stated his reasons for not relieving Godwin Emefiele of his position as the Governor of the Central Bank of Nigeria (CBN) even after he was alleged to...