CBN Naira Defence Depletes Foreign Reserves By $3.17bn   Forex scarcity due to falling crude oil price forced the Central Bank of Nigeria to access the country’s foreign reserves to make forex available in the economy; reports says that this gulped $3.17bn in the first quarter. The...

CBN Pushes Active Public-private Synergy To Tackle COVID-19     The Central Bank of Nigeria (CBN), has called for active collaboration of the public and private sector to tackle the health and economic crisis bedevilling the country and the world at large. CBN Governor, Godwin Emefiele, said the...

CBN Plans N15trn InfraCo Fund For Rollout In 12 Months   The Central Bank of Nigeria (CBN) is planning to establish $39 billion (N15 trillion) InfraCo fund, an independently managed fund, expected to be rolled out within the next one year to boost infrastructure development. CBN Governor,...

CBN To Promote N15trn Infrastructure Company     The Central Bank Governor, Godwin Emefiele, has said that the country will support InfraCo Plc, a world-class infrastructure development vehicle with combined debt and equity capital of N15tn, as part of efforts to stimulate local production in the country. Emefiele...

In Three Months, Foreign Reserves Shed $3.02bn   The country’s foreign reserves have continued its downward trend dropping by $3.02bn from $38.53bn on January 2, 2020 to $35.51bn as of March 27, 2020, latest statistics from the Central Bank of Nigeria have revealed. According to the figures,...

CBN, Dangote Plan N120bn COVID-19 Fund, Rabiu, Elumelu Donate N6bn   The Central Bank of Nigeria and the private sector, led by Aliko Dangote Foundation and Access Bank, have set up a coalition aimed at raising N120bn towards the fight against COVID-19 in Nigeria. The Governor, Central...