Tag
CBN
The CBN has stated that Nigeria’s high inflation would further reduce the value of the Naira as imported products become more expensive.
The CBN says it is spearheading Nigeria’s drive towards the diversification of the country’s economy away from oil through its numerous interventions across other sectors.
Stakeholders expect FG to adopt better communication strategies in dealing with both foreign and local airlines and win back its credibility as a credit-worthy nation.
An insight into the different dimensions of inflation will reveal why Nigeria's inflation is particularly difficult to tackle.
The CBN has said that it has released the sum of $265 million with a portion of it going to settle trapped funds of foreign airlines.
MAN has urged the CBN to direct commercial banks to process FOREX allocation applications by manufacturers transparently.
Customs agents have stated that the CBN's forex prohibition list and the crashing of the Naira is responsible for the declines in cargo volumes at Nigerian ports.
The prevailing economic conditions suggest that the drop in naira value will continue and we will be lucky if the exchange rate does not jump to N1000 to a dollar by 2023.
The Central Bank of Nigeria's digital currency, eNaira has recorded 200,000 users and N4 billion worth of transactions since it debuted in 2021.
The Central Bank of Nigeria has increased the interest rate for intervention loans from 5% to 9%, effective from July 2022.
The continuous CRR debits have been limiting banks’ ability to plan and increase credit extension.
Nigeria’s headline inflation has continued to worsen despite the CBN's attempt to hike interest rates.