CBN MPC members Express Worry Over High Demand Pressure In Forex         Some members of the Monetary Policy Committee of the Central Bank of Nigeria have expressed concerns over the high demand pressure in the nation’s foreign exchange market. The MPC members voiced their concerns at the...

Naira May Depreciate To 475/$, Says Rewane         The naira will weaken in the parallel market as oil prices stay at $40-$42 per barrel and likely depreciate to 470-475 against the dollar in November and December, the Managing Director/Chief Executive Officer, Mr Bismarck Rewane, has said. Rewane...

CBN Extends AGSMEIS Loans To 14,638 Applicants       The Central Bank of Nigeria has said it is extending its Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) loans to 14,638 applicants in August. In a communiqué from the last MPC report, it stated, “The Agri-Business/Small and Medium Enterprise...

Foreign Reserves Rise By $70m In One Week     The country’s foreign reserves rose by $70m from $35.59bn as of August 20 to $35.66bn on August 27, the latest figures from the Central Bank of Nigeria have shown. The reserves had earlier dropped by $278.91m from $35.87bn...

MPC Approves CBN’s N15trn Infrastructure Firm     The Monetary Policy Committee (MPC) has okayed the Central Bank of Nigeria (CBN)-led N15 trillion five-year Infrastructure Development Company meant to deepen economic development. The MPC also lauded the Federal Government for the approval to establish Infrastructure Development Company, which...

Foreign Reserves Drop By $544.94m In Six Weeks       The country’s foreign reserves fell by $544.94m from $36.17bn on July 1 to $35.62bn on August 13, the latest figures from the Central Bank of Nigeria have shown. The CBN had said during the last Monetary Policy Committee...