Money
-
Naira crashes to N1,615 in parallel market
The Naira yesterday depreciated to N1,615 per dollar in the parallel market from N1,610 per dollar on Monday. However, the Naira yesterday appreciated to N1,594.27 per dollar in the Nigerian Autonomous Foreign…
-
CBN Directs banks to deposit all excess FX
The Central Bank of Nigeria has directed all Deposit Money Banks to deposit their excess foreign currency notes with its branches in Lagos and Abuja. The apex bank disclosed this in a…
-
How Nigerians borrow N3.82tn from banks amid hardship
Credit facilities borrowed by Nigerians from banks rose to N3.82 trillion in January 2024 amid rising inflation and harsh economic realities. This is according to the recent Central Bank of Nigeria’s monthly…
-
CBN meets justifies reasons for recent Monetary Policy Rate hikes
The Central Bank of Nigeria has presented a detailed explanation of the economy’s trajectory, giving reasons for the recent aggressive Monetary Policy Rate hikes, and the expected transmission timeline into the economy.…
-
Again, Naira depreciates by 0.16% against dollar at official market
The naira on Friday recorded a loss at the official market, trading at N1,483.99 to the dollar. Data from the official trading platform of the FMDQ Exchange, which oversees the Nigerian…
-
Naira depreciates by 0.05% against dollar at official market
The naira experienced a decline on Tuesday at the official market, trading at N1,476.95 to the dollar. According to data from the FMDQ Exchange’s official trading platform, the naira depreciated by…
-
CBN retrenches 200 staff members
No fewer than 200 officials of the Central Bank of Nigeria were on Friday relieved of their duties. This is an addition to the long list of ongoing disengagements in the…
-
Detained Binance Executive Slumps In Court
There was a mild drama at a Federal High Court in Abuja on Thursday, as detained Binance executive, Tigran Gambaryan, slumped in court. Gambaryan is facing a money laundering charge. The…
-
CBN releases list of those banned from owning BDCs
The Central Bank of Nigeria has banned commercial banks, all financial institutions, public officers, non-governmental organizations, non-Nigerian natural persons, non-resident, non-regulated companies, telecommunication services providers, and others from owning Bureau De…
-
CBN Gov speaks on revoking licenses of Moniepoint, Opay, others
The governor of the Central Bank of Nigeria, Olayemi Cardoso, said that the apex bank has not revoked the licenses of Moniepoint, Opay, and other fintech banks operating in Nigeria. Cardoso…
-
BREAKING: CBN raises interest rate
The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark interest rate to 26.25 per cent. This was disclosed by the Governor of the CBN who doubles…
-
Naira Depreciates at Official Market, Trades at N1,416.57 to Dollar
On Tuesday, the naira experienced a decline at the official market, with the exchange rate standing at N1,416.57 to the dollar. According to data from the official trading platform of the…