CBN Retains Interest Rate At 12.5%     The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has held the Monetary Policy Rate (MPR) constant at 12.5%. This was disclosed by Governor, CBN, Godwin Emefiele while reading the communique at the end of the MPC meeting...

Senate Summons Emefiele, Ahmed, Others Over Expatriate Tax Evasion     The Senate on Wednesday summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, and the Governor of the Central Bank of Nigeria, Godwin Emefiele, to brief it on measures to curb tax evasion by...

CBN Probes Forex Dealers For Imports Regulations Violation     The Central Bank of Nigeria has said it is probing some dealers for allegedly procuring foreign currencies for the purpose of importing items, which had been designated as invalid for the Nigerian foreign exchange market. Following an ex...

We’ll Steer Nigeria Away From Recession - CBN   The Central Bank of Nigeria on Wednesday said it would not be deterred in its effort to steer the Nigerian economy away from the looming recession due to the impact of COVID-19. It said this was in spite...

In One Month, Foreign Reserves Gained $2.7bn – CBN   The nation’s foreign reserves rose by $2.7bn in May after declining for several months, figures from the Central Bank of Nigeria showed on Tuesday. According to the CBN, the foreign reserves, which stood at $33.52bn as of...

Nigeria’s External Reserves Up By 7% In 21 Days     The continuous increase in Nigeria’s external reserves appears to have been sustained as it recorded a third consecutive week of growth at the end of last week. Available data from the Central Bank of Nigeria (CBN)...