CBN likely to raise interest rate to halt inflation
The Central Bank of Nigeria (CBN) is set to tighten further its monetary control in a renewed bid to moderate resurgent inflationary pressure. The Monetary Policy Committee (MPC), the highest policy-making organ of the apex bank, begins a two-day meeting…
CBN resumes forex sales to BDCs
ABCON hails sale 0f $20,000 per licensee The Central Bank of Nigeria (CBN) yesterday resumed dollar sales to Bureaux De Change (BDC) operators with a planned disbursement of $20,000 to each licensee. The forex injection, it said, is expected to…
How Emefiele moved millions to wife, by witness
An assistant bank manager, Mrs Ifeoma Ogbonnaya, told Justice Rahman Oshodi that millions of naira was also moved in several tranches into several companies’ accounts. Emefiele is standing trial over abuse of office and alleged $4.5 billion and N2.8 billion…
CBN withdraws circular on cybersecurity levy
The Central Bank of Nigeria has retracted its directive asking banks and payment service providers to collect and remit the cybersecurity levy as outlined in the Cybercrime Prevention and Prohibition Amendment Act of 2024. The apex bank announced this in…
FULL LIST: CBN publishes list of licensed Deposit Money Banks
The Central Bank of Nigeria has released a comprehensive list of licensed Deposit Money Banks operating within the country. The list, which was made public on the CBN’s official website on Tuesday, provides insights into the banking landscape in Nigeria….
Emefiele printed N684.5m with N18.9bn, says EFCC in fresh charge
The Economic and Financial Crimes Commission has filed a fresh charge at the High Court of the Federal Capital Territory against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele. EFCC in the charge accused Emefiele of…
Forex losses hit currency dealers as CBN slashes BDC rate to N1,117.5/$
Currency dealers yesterday lamented mounting losses and declining dollar demand as the naira appreciated further in the official and parallel markets, following a 12 percent or N152.23 reduction in bureaux de change, BDC, the exchange rate to N1,117.5 per dollar…
CBN Raises Interest Rate To 24.75 Percent
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the…
N22tn printed by CBN under Buhari responsible for inflation – Wale Edun
The Minister of Finance and Coordinating Minister of Economy, Wale Edun said N22.7tn printed by the Central Bank of Nigeria through Ways and Means overdraft under former President Muhammadu Buhari, was responsible for the current inflation in the country. Edun…
CBN to sell N1.64trn Treasury Bills in Q2’24
The Central Bank of Nigeria, CBN, has said it would sell Treasury Bills, TBs, worth N1.64 trillion for the second quarter of 2024, Q2’24. This is contained in the apex bank’s Nigeria Treasury Bills Issue program released today. Treasury Bills…