Forex Turnover in NAFEM Rises by 61% to $43bn   The volume of dollar traded (turnover) in the Nigerian Foreign Exchange Market (NAFEM) rose Year-on-Year (YoY) by 61.9 percent to $43.09 billion in the first eleven months of 2024 (11M’24) from $26.6 billion in the corresponding...

CBN Predicts Increased Food Production as FG Improves Security in North-East The Central Bank of Nigeria (CBN) has predicted an improvement in food production in the country, following the Federal Government's efforts to improve security in the North-East. Speaking at the end of the 298th Monetary...

Again, CBN Raises Interest Rate to 27.25% The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR), which benchmarks interest rates, to 27.25 percent — from 26.75 percent Olayemi Cardoso, governor of the apex bank, who doubles...

Banks’ Deposits With CBN Now N3.42trn - Report The deposits of banks with the Central Bank of Nigeria ( CBN) hit a weekly high of N3.42tn at the end of last week. This followed the announcement of the operationalisation of the Standing Deposit Facility asymmetric corridor...

Currency Outside Banks Drops by 3.32% – CBN Currency held outside of Nigeria’s banking system dropped to N3.66tn in July, about 3.32 per cent lower than it was in the previous month. This was disclosed in Money and Credit data available on the website of the...

JUST IN: CBN Raises Interest Rate to 26.75% Amidst Inflationary Pressures   The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has again increased the benchmark interest rate by 50 basis points from 26.25 per cent to 26.75 per cent. This was disclosed by...