Why we implemented EFEMS – CBN Gov, Cardoso …C0NTINUE READING HERE >>> Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says the apex bank’s decision to implement the Electronic Foreign Exchange Matching System (EFEMS) is to ensure trust. According to a statement by CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali, … Read more
CBN sells $543m to banks to check market volatility …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) says it sold 543.5 million dollars to authorised dealer banks between September 6 and September 30. According to a statement issued by Omolara Duke, the Director, Financial Markets Department of the CBN, the transaction … Read more
Sanusi reacts as Jonathan denies $49.8b went missing in his administration …C0NTINUE READING HERE >>> Former President Goodluck Jonathan on Thursday insisted that the the Federal Government did not lose $49.8 billion dollars under his watch as president. Jonathan stated this in Abuja on Thursday during his remarks at the launch of a book by … Read more
CBN sells another $20,000 to Each BDC at N1,590/$ for Invisible transactions …C0NTINUE READING HERE >>> In its efforts at boosting foreign exchange liquidity within the retail market segment, particularly for personal and business transactions classified as invisible, the Central Bank of Nigeria (CBN) has approved the sale of US$20,000.00 to each eligible Bureau de … Read more
Yemi Cardoso-Led CBN Raises Interest Rate To 27.25 Percent …C0NTINUE READING HERE >>> Yemi Cardoso-led CBN has raised the interest rate to 27.25 percent. Newsone Nigeria reports that the Monetary Policy Committee of the Central Bank of Nigeria (CBN) has voted to increase the monetary policy rate, which measures the benchmark interest rate, to 27.25 percent. This … Read more
CBN, banks sell $9.9bn as naira tumbles to N1,670/$ …C0NTINUE READING HERE >>> The Nigerian Autonomous Foreign Exchange Market increased to N15.74tn ($9.90bn) in August 2024, an FMDQ report has stated. This came as the Central Bank of Nigeria revealed that foreign inflow into the country increased to $585m in the same month. Also, at … Read more
What lifting petrol from Dangote refinery will do – CBN gov, Cardoso …C0NTINUE READING HERE >>> The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says lifting of petroleum products from the Dangote Refinery will moderate foreign exchange demand pressures. Cardoso who said this on Tuesday in Abuja, while presenting a … Read more
JUST IN: CBN further increases interest rate by 50 basis points to 27.25% …C0NTINUE READING HERE >>> The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has further increased the Monetary Policy Rate (MPR) by 50 basis points to 27.25 per cent from 26.75 per cent. The Governor of the … Read more
External reserves reach 22-Month high To $37.31bn — CBN …C0NTINUE READING HERE >>> Nigeria’s external reserves have reached a 22-month high of $37.31bn, reflecting significant foreign inflows into the economy of the country. Data from the Central Bank of Nigeria (CBN) revealed that as of September 18, 2024, the reserves hit the highest level since … Read more
CBN slashes cybersecurity levy on bank transfers to 0.005% …C0NTINUE READING HERE >>> Central Bank of Nigeria (CBN) slashes the cybersecurity levy on electronic transactions from the protested 0.5% to 0.005% in its new fiscal guidelines for 2024-2025. This decision comes after resistance from the Nigeria Labour Congress, the Trade Union Congress, and bank customers, … Read more