FG Releases N37bn COVID-19 Survival Fund       The Federal Government has so far released N37bn (Survival Fund) as part of the implementation of its Economic Sustainability Plan aimed at cushioning the negative impact of COVID-19 on Nigerians. The fund covers schemes such as N50,000 Payroll Support for...

CBN Disburses N554bn To 2m Farmers In Five Years         The Central Bank of Nigeria (CBN) said it has disbursed N554.61 billion to 2,849,490 farmers within the past five years to boost food security under its Anchor Borrowers Programme (ABP). In a communique issued in Abuja on...

Improved Crude Oil Prices Increase Nigeria’s External Reserves To $36.23bn       The CBN says Nigeria’s Foreign Exchange Reserves rose from 34.94billion dollars in November 2020 to 36.23billion dollars as at Jan 21, 2021. CBN Governor, Godwin Emefiele, said at the January Monetary Policy Committee (MPC) meeting of...

CBN Boosts Economy With N8.8trn To Battle COVID-19         The Central Bank of Nigeria (CBN) has injected more than than N8.8 trillion into the economy since the advent of COVID-19 in March last year. Its Governor Godwin Emefiele who dropped the hint in Abuja at the end...

High Recurrent Expenditure Raises Debt Servicing Challenges - CBN         The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja. It also retained...

CBN's Battle Over Non-conformist Diaspora Remittance Continues       Despite efforts by the Central Bank of Nigeria (CBN) to stimulate activities in the formal channels of diaspora remittances, the window has continued to battle with its historical challenges, including rising competition with informal windows, poor regulatory compliance...