CBN Rebukes Those Using Parallel Market To Push For Naira Devaluation       Those using parallel market rates to put pressure on the Central Bank of Nigeria (CBN) to devalue the Naira won’t have their way. The CBN Governor, Mr. Godwin Emefiele gave this indication at the end...

We’ll Pursue Expansion Policies To Fight Recession, Says CBN         The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the bank will pursue expansionary monetary policies to fight recession because the fiscal policy was already constrained. Emefiele said this was necessary to curb...

In Six Months, Oil Imports Gulped $770.58m – CBN       A total of $770.58m was utilised for oil imports in the first half of this year, the latest data from the Central Bank of Nigeria have shown. The CBN’s data on sectoral utilisation for transactions valid for...

Budget Support: IMF, World Bank Conditions Behind Subsidy Withdrawal, Electricity Tariff Hike     The Federal Government’s removal of petrol subsidy and the increase in electricity tariff are in line with reforms being sought by the International Monetary Fund and the World Bank, economic experts have said. The...

Foreign Reserves Drop To $36.12bn - CBN   The country’s foreign reserves fell by $454.05m from $36.57bn on June 1 to $36.12bn on July 15, the latest figures from the Central Bank of Nigeria showed on Thursday. The CBN, in its February monthly report, entitled ‘Gross external...

Banks’ Non-performing Loan Ratio Drops To 6.6%     The non-performing loan ratio of the Nigerian banking sector dropped to 6.6 per cent at the end of April 2020 from 11 per cent in April 2019, according to the Governor of the Central Bank of Nigeria, Mr...