Despite Buhari’s Forex Ban, Food Imports Gulps $1.24bn       Food products imports gobbled up $1.24bn of the foreign exchange supplied by the Central Bank of Nigeria from October 2020 to March 2021 despite the ban directive from President Muhammadu Buhari. The foreign exchange used for the importation...

Trade Deficit Increases To $2.51bn After Border Reopening         Nigeria’s exports declined while imports increased in January despite the opening of the land borders. Nigeria’s trade deficit rose from $1.69bn in December 2020 to $2.51bn as of the end of January 2021 despite the reopening of the...

CBN’s MPC Members In Policy Dilemma Over Growth, Inflation       The members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria, CBN, have indicated that the apex bank’s meeting in March was largely concerned with the twin problem of growth stimulation of economic...

In One Month, CBN Injects $1.47bn Into Forex Market       The Central Bank of Nigeria injected $1.47bn into the foreign exchange segment of the market as part of its efforts to stabilise the naira in January. According to figures from the CBN’s January report on its foreign...

LCCI Concerned Over Rising Inflation, Debt Sustainability       As the country awaits a higher inflation rate for March due for release today,, the Lagos Chamber of Commerce and Industry (LCCI) has expressed concerns about the persistent increase in domestic prices. It noted that continual rise in...

CBN Disburses N1.487trn To Boost Food Security       The Central Bank of Nigeria (CBN) has disbursed N1.487 trillion under its various agricultural programmes to boost food security. Its Governor, Mr Godwin Emefiele, made this known while presenting the communiqué on the Monetary Policy Committee (MPC) meeting in...