CBN Devalues Naira To N410.25/$1         The Central Bank of Nigeria (CBN) has devalued the naira to N410.25 to dollar. The devaluation of the local currency was confirmed by the adoption of the Nigerian Autonomous Foreign Exchange Rate (NAFEX), also known as the Investor and Exporter (I&E)...

Foreign Reserves Depreciated By $790m       Nigeria’s foreign exchange reserves have depreciated by $790 million despite the rise in crude oil prices. The foreign reserves stood at $34.43 billion as at May 17 data from the Central Bank of Nigeria (CBN) website showed. Managing Director, Financial Derivatives Company...

Govs Fret As CBN Insists Budget Support Repayment Starts May       State governors again on Thursday requested that the repayment of their loans, especially the budget support, which ought to start this month be deferred. But the Governor of the Central Bank of Nigeria, Godwin Emefiele, emphasised...

CBN Disbursed N300bn Agric Loans In Southern Nigeria – Emefiele       The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, said on Tuesday that over N300bn had been disbursed to companies operating in southern part of Nigeria as part of its interventions in the agricultural sector. Emefiele...

Emefiele Faults Claims of Imbalance in Agric Interventions ...Tasks Stakeholders on Food Security The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has faulted claims in certain quarters suggesting that the Bank’s targeted interventions in the agricultural sector are tilted in favour of a certain...

Banks Slash Dollar-cash Deposits to $5,000 Monthly       Nigerian banks have reduced the amount of United States dollars customers can pay into their domiciliary accounts from the previous $10,000 to $5,000 monthly. A top bank official who craved anonymity confirmed the new policy yesterday. However, the new policy...