The Central Bank of Nigeria (CBN) on Friday supplied a total of $197.71 million to the foreign exchange market through sales to authourised dealers. The apex bank’s Director of Financial Markets Department, Dr Omolara Duke, disclosed this in a statement on Saturday in… CBN injects $197.71m to boost fx liquidity …C0NTINUE READING HERE >>>>
The Central Bank of Nigeria, CBN, has denied introducing new N5,000 and N10,000 notes. CBN described the reports as false. There has been widespread reports that the CBN had unveiled the high-denomination bank notes to enhance cash transactions. The report said the apex bank… CBN denies introducing N5000, N10,000 notes …C0NTINUE READING HERE >>>>
The Central Bank of Nigeria (CBN) has vehemently denied online claims that it had introduced ₦5,000 and ₦10,000 banknotes to ease cash transactions. In a statement posted on its official social media account on Wednesday, the apex bank described the report as “fake”… CBN Dismisses Report On Introduction Of ₦5,000 And ₦10,000 Banknotes …C0NTINUE READING … Read more
The Central Bank of Nigeria (CBN) has reported the highest Net Foreign Exchange Reserve (NFER) position as of the end of 2024. According to CBN data, NFER stood at $23.11 billion, the highest level in over three years. The improvement marked an increase from $3.99 billion at… Nigeria’s net foreign exchange reserve hits highest level … Read more
The Nigerian electricity sector experienced a slowdown in the fourth quarter of 2024 (Q4 2024), with the electricity production index decreasing by 1.64% compared to the same period last year. According to the Central Bank of Nigeria (CBN), this decline contrasts sharply with… Nigeria’s Power Generation Plummet By 1.64% …C0NTINUE READING HERE >>>>
Nigeria’s President, Bola Ahmed Tinubu, has recounted his nasty encounter with his close relative who narrated how their wealthy uncle ran short of cash during the naira scarcity in 2023. Recounting the experience at a special Iftar held in his honour at the Presidential Villa on… Tinubu narrates nasty experience during naira scarcity as relative … Read more
The Naira appreciated on Friday in the official market, trading at N1,536.82 to a dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira gained N1.84. This represents a 0.11 per cent increase compared to the N1,538.66 per dollar recorded on Thursday. The gain… See new rate as Naira appreciates against … Read more
Nigeria’s Money Supply (M2) saw a year-on-year increase of 17.3 per cent, reaching ₦110.3 trillion in February 2025, up from ₦93.97 trillion during the same month in 2024. This information was provided by the Central Bank of Nigeria (CBN) in its recently released Money… Nigeria’s Money Supply Soars By 17% …C0NTINUE READING HERE >>>>
Oil services firm Zumax Nigeria Limited has sued the Central Bank of Nigeria (CBN) for N4.1 billion, accusing it of gross negligence over a disputed receivership. In a suit before Justice Akintoye Aluko of the Federal High Court, Lagos, Zumax alleged that CBN failed in its… Nigerian firm sues CBN for N4.1b over alleged negligence … Read more
The senator representing Bayelsa West, Seriake Dickson, has raised concerns over the lopsided appointments in the Nigerian National Petroleum Company, NNPC, the Central Bank of Nigeria, CBN, and other federal ministries, departments, and agencies, MDAs. Dickson made this known… Senator Dickson fumes over lopsided recruitment in NNPC, CBN as Senate orders probe …C0NTINUE READING HERE … Read more