Tag
CBN
Latest data from the Central Bank of Nigeria (CBN) reveals a significant year-on-year (YoY) increase in the amount of currency outside the banking system, highlighting a shift in public behaviour regarding cash retention.
The Nigerian Government has taken several policy decisions in the last 18 months, mainly fuel subsidy removal and floating/unification of the exchange rate, with subsequent dire consequences on the purchasing power and well-being of the people.
Nigeria’s money supply (M3) has grown by 62.8% year-on-year (YoY) in September 2024, despite the Monetary Policy Committee’s (MPC) tightening stance aimed at curbing excess liquidity to control inflation.
Business confidence in Nigeria has declined sharply due to the impact of naira devaluation and the removal of fuel subsidies, a new report by Standard Bank’s Africa Trade Barometer has revealed.
The Governor of the Central Bank of Nigeria (CBN), Mr. Yemi Cardoso has stated that the current reforms being implemented by the federal government is attracting serious and growing interest from foreign investors.
IFC, a member of the World Bank Group, and the Central Bank of Nigeria (CBN) have signed an agreement to increase local currency financing to enable private businesses in Nigeria to grow and thrive.
FBN Holdings Plc has commenced its Rights Issue, offering 5.983 billion ordinary shares at 50 kobo each, priced at N25 per share, raising N150 billion for existing shareholders.
The Central Bank of Nigeria (CBN) has announced that the apex bank is engaging at the highest level to facilitate Nigeria’s removal from the Financial Action Task Force’s (FATF) “grey list,” an anti-money laundering watchlist by May 2025.
The Central Bank of Nigeria (CBN) and the Attorney General of the Federation (AGF) have cited 17 grounds why the Court of Appeal in Abuja should quash the judgment of the Federal High Court, Abuja which ordered the CBN to pay Kasmal International Services N579,130,698,440 with 10% interest per annum from January 1, 2015, to January 31, 2020, for its role in stamp duty collection.
Nigeria is contemplating the issuance of a diaspora bond in the United States next year, aiming to secure monthly remittance inflows of $1 billion, according to Central Bank Governor Olayemi Cardoso.
The Central Bank of Nigeria (CBN) has debunked the rumours making the round that the old N200, N500, and N1000 notes would cease to be legal tender after December 31, 2024.
The Nigerian House of Representatives has called on the Central Bank of Nigeria (CBN) to expedite the circulation of newly printed N200, N500, and N1,000 banknotes, while initiating a phased withdrawal of the older currency from circulation.