In Two Months, External Reserves Fall By $1.4bn     The country’s external reserves fell by $1.4bn in two months, the latest data from the Central Bank of Nigeria showed on Wednesday. The reserves, which stood at $35.25bn as of April 16, fell to $34.23bn as of May...

CBN Increases Forex Allocations To Banks       The Central Bank of Nigeria on Sunday announced an increase in foreign exchange allocations to banks to meet the requests of customers. These requests include travellers seeking foreign exchange for travel allowances, payment of tuition and medical fees, among other...

External Reserves Declined By $640m In May – CBN       The country’s external reserves lost $640m in May, falling to $34.24bn on May 28 from $34.88bn as of April 28. Figures obtained from the Central Bank of Nigeria on Tuesday revealed that the reserves had been fluctuating...

CBN Plans Digital Currency As Naira Slips To 490/$ At Parallel Market       The naira exchanged to the dollar at N490/$ at the parallel market on Thursday. According to naijabdcs.com, the official exchange rate website of the Central Bank of Nigeria for the Bureau de Change operators,...

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)...

Banks Credit To Economy Now N23.53trn       Banks’ credit to the economy rose to N23.53tn as of the end of March, latest figures from the Central Bank of Nigeria have shown. The CBN disclosed in its communiqué at the end of the Monetary Policy Committee on Tuesday...