CBN Stops Dollar Sales To NNPC   Central Bank of Nigeria (CBN) has stopped local and international oil companies from selling dollars to the Nigerian National Petroleum Corporation (NNPC). The apex bank said the move is in line with the its determination to improve foreign exchange supply...

Loan: CBN Grants Businesses One-year Extension On Repayment   The Central Bank of Nigeria on Monday announced policy measures to tackle the impact of coronavirus on the businesses and the nation’s economy. The CBN Governor, Mr Godwin Emefiele, said during a media briefing in Abuja that from...

Dangote Refinery'll Employ Over 70,000 Workers     Governor of Central Bank of Nigeria, Mr Godwin Emefiele, has expressed optimism about reduction in the high rate of unemployment in the country, stating that Dangote Refinery alone will employ more than 70,000 able Nigerians when it becomes operational. He...

In One Month, FG Depletes ECA By $253.1m   The Federal Government depleted the Excess Crude Account by $253.1m between January 16 and February 19, analysis of figures from the Federation Account Allocation Committee, has shown. As at the end of the FAAC meeting on January 16,...

Nigeria Spends $500m On Importation Of Palm Oil ― Emefiele   A whooping sum of $500 million of the country’s scarce foreign exchange is presently being expended annually on the importation of palm oil, the governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele has...

Foreign Reserves Drop By $558.68m In 2 Weeks   The country’s foreign exchange reserves continued its downward trend as it dropped from $39.8bn on November 11 to $39.24bn on December 13, latest figures from the Central Bank of Nigeria have revealed. The reserves fell by $1.26bn from...