CBN FX Reforms Deliver Record $844m Single-day Trade Turnover in Nigeria’s foreign exchange market jumped to $844 million on February 3, the highest level of trades since June 2, 2022, according to data compiled by the FMDQ Securities Exchange Ltd. The amount is three times more...

CBN Reveals Action Plan to Revive Economy The governor of Central Bank Nigeria (CBN), Olayemi Cardoso, has highlighted some action plans the apex bank wants to embark on in order to help boost the economy. Cardoso highlighted some of the plans in his interview with Arise...

$2.4bn FX Backlog Was Marred by Infractions, CBN Governor Says The governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that about $2.4bn of the $7bn foreign exchange backlog he met when he got into office were from non-existing entities, requests without...

CBN MPC Meeting: Cardoso's Bid to Restore Stability, Sanity in Financial System, by Abdulrahman Abdulraheem   The mandate of the Central Bank of Nigeria (CBN) is derived from the 1958 Act of Parliament, that established the Bank. The Act has been amended six times since then...

1,500 Redeployed CBN Employees To Resume Work At Lagos Office Friday   Following their relocation from the Abuja headquarters, at least 1,500 Central Bank of Nigeria (CBN) employees will begin work at the Lagos branch on Friday, February 2. The departments penciled down for relocation by the...

Naira Slumps To N1,340/$1 At Parallel Market, FX Shortages Persist   Hopes of local and international businesses getting foreign exchange suffered a set-back as the naira slumped to fresh lows against the US dollar at the official and parallel markets at the weekend. This comes as...