CBN Battles Recession, Raises COVID-19 Facility To N300bn
Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday said the bank would raise its COVID-19-targeted facility from N150 billion to N300 billion in order to accommodate more Nigerians in a bid to cushion the impact...
MPC: Experts Expect No Rise In Interest Rate
Financial experts have said they expect the lending rate to either be retained or reduced at the end of the meeting of the Monetary Policy Committee of the Central Bank of Nigeria on Tuesday.
The members of the...
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...
