In 12 Months, Food Imports Exceed Exports By N2.23trn
The total international trade in agricultural goods in the country stood at N3.24tn in 2021, with the import value exceeding export value by N2.23tn, findings have revealed.
Despite interventions by the Federal Government to diversify the economy...
CBN's MPC Blames Rising Inflation on Fuel, Hikes In Electricity Tariff
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has blamed the hike in energy prices for the rising inflation rate experienced within the country in February 2022.
In a communique released...
CBN denies report to nationalize Unity Bank
The Central Bank of Nigeria (CBN) has denied media reports of plans to nationalise Unity Bank Plc.
The Acting Director, Corporate Communications Department, CBN, Osita Nwanisobi, in his reaction described it as, “fake news” and should be discarded in...
CBN Retains Lending Rate, Says Economic Recovery Still Fragile
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, who disclosed this after the committee’s two-day meeting in Abuja also...
Credit To Private Sector Rises To N31.822trn
Banking sector credit to the private sector increased year-on-year by N382 billion to N31.823 trillion as of April, up from the N31.440 trillion it was as at the end of March.
The data were compiled from the latest Central...
Foreign Reserves Depreciated By $790m
Nigeria’s foreign exchange reserves have depreciated by $790 million despite the rise in crude oil prices.
The foreign reserves stood at $34.43 billion as at May 17 data from the Central Bank of Nigeria (CBN) website showed.
Managing Director, Financial Derivatives Company...
