In Eight Days, External Reserves Drop By $196m   Nigeria’s external reserves drop by $196m in eight days to $39.62bn as of April 28, according to figures obtained from the Central Bank of Nigeria. The CBN revealed that the reserves, which had earlier gained $243.83m in 19...

FX Exporters To Receive Bonuses - CBN Exporters who made their foreign exchange proceeds available will from next week get their bonus from the Central Bank of Nigeria (CBN). CBN in a circular had promised to pay N65 bonus for every $1 of repatriated non-oil export...

In 12 Months, Food Imports Exceed Exports By N2.23trn   The total international trade in agricultural goods in the country stood at N3.24tn in 2021, with the import value exceeding export value by N2.23tn, findings have revealed. Despite interventions by the Federal Government to diversify the economy...

Emefiele: CBN’s intervention loans Hit N3tn  The Governor of the Central Bank of Nigeria, Godwin Emefiele, says the bank in conjunction with other financial institutions granted over N3tn  intervention loans to help economic recovery and job creation. Emefiele says that the current focus of monetary policy...

Kaduna: CBN Unveils 21 Maize Pyramids The Central Bank of Nigeria (CBN) has unveiled 21 maize pyramids in Kaduna State. This is expected to boost maize production towards promoting food security and self-sufficiency. CBN revealed that, “As at February 2022, it has under its Anchor Borrowers’...

CBN Retains Monetary Policy Rate At 11.5 Percent   The Monetary Policy Committee (MPC) has decided by a vote of six members against four to retain all monetary instruments around the Monetary Policy Rate at 11.5 per cent. The apex bank held the asymmetric corridor of +100/-700...