National Assembly Suspends Amendment of CBN Act The National Assembly Committee on Banking, Insurance and other Financial Institutions has decided to pause the amendment process for the bill titled “An Act to Amend the Central Bank of Nigeria Act No. 7 of 2007.” This decision was...

Amid FG Borrowings, Money Supply Reached N53.27trn In January   On the back of the federal government increased borrowing, money supply (M3) in the economy increased to N53.27 trillion in January 2023, representing a 17.87 per cent Year-on-Year (YoY) increase from N45.19 trillion reported in January...

Naira Now Among Worst Performing Currencies Globally, Report Reveals   While officially, Nigeria’s naira can be said to be doing well this year, down just 4 per cent against a strong US dollar, ahead of the Canadian dollar and the Swiss franc, a Bloomberg report has...

CBN Retains Lending Rate, Says Economic Recovery Still Fragile       The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, who disclosed this after the committee’s two-day meeting in Abuja also...

Experts Blame Forex, Insecurity, Low Production As Inflation Hits 18.17%       Nigeria’s rate of inflation, which has maintained a continuous increase for more than a year, rose again in March, hitting a high of 18.17 per cent, according to data released on Thursday by the National...

CBN Introduces Bills To Mop Up Surplus Funds         The Central Bank of Nigeria (CBN) has introduced special bills as part of an effort to absolve excess liquidity and deepen the financial market, saying the move will avail it with an additional liquidity management tool. The circular...