Banks’ Forex Ban: Dollar Scarcity, Inflation, Firms’ Closure Imminent, Experts Warn   Financial analysts and economic experts have expressed worry over the plan by the Central Bank of Nigeria to stop the sale of foreign exchange to Deposit Money Banks by December this year. The economists, who...

CBN to Stop Sale of Forex to Banks as Naira Falls Against Dollar ECONOMIC CONFIDENTIAL- Naira fell massively at the black market on Thursday after traders learned that the Central Bank of Nigeria (CBN) was planning to halt dollar sales to commercial banks. Although CBN said...

External Reserves Slides To Four Months Low At $39.98bn   The external reserves have fallen below the $40bn mark to the lowest point in over three months, figures from the Central Bank of Nigeria have revealed. The reserves dropped to $39.82bn on February 2, 2022 from $40.53bn...

Emefiele Inaugurates Garewa Rice Mill, Says Nigeria Millers Have Combined Capacity Of 3 million Metric Tons   The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has urged rice mills in the country to embrace the Bank’s backward integration initiative aimed at conserving foreign exchange...

243 Firms Push For CBN’s Multibillion Naira Loan Scheme   Following applications by 243 firms with projects valued at N321.06bn for the 100 by 100 loan scheme, the Central Bank of Nigeria has disbursed a total of N23.2bn to 28 firms whose projects satisfied the apex...

No Dollar Spent On Cement Import In Seven Years, Says Emefiele   The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said Nigeria has not spent dollars to import cement in the last seven years. A statement from the CBN said he spoke at...