Tag
CBN
The founder and Chief Consultant at B. Adedipe Associates Ltd. Dr. Abiodun Adedipe has said that 80 to 85% of transactions in the informal sector of the Nigerian economy are still in cash.
Naira appreciated for the 4th consecutive week to settle at N1,245 per against the dollar amid amplified confidence in the naira.
The Head of Corporate Banking Group and Chief Operating Officer at Ecobank Transnational (ETI), Dr. Bunmi Bajomo has stated that Nigerian banks cannot compete with their peers in North and East Africa based on foreign currencies.
According to her, if such policy is implemented, the need for the greenback will significantly diminish, providing the Naira with some respite in the forex market.
Nigeria’s foreign exchange (FX) reserve has experienced a sharp decline of about $1.02 billion within a span of 18 days, as the CBN continues its aggressive defence of the naira.
ABCON has appealed to the Central Bank of Nigeria (CBN) to adjust and lower its applicable exchange rate downward below the N1,251/$ it pegged for the Bureau De Change (BDC) operators.
The founder and Chief Consultant at B. Adedipe Associates Ltd. Dr. Abiodun Adedipe has said that Nigeria is poised to attract more manufacturing companies from across the globe if the Naira becomes stable.
Economists express concerns about Nigerian banks’ large net interest margin, alluding to the trend as making access to finance beyond the reach of small businesses.
The National Identity Management Commission (NIMC) has said that Nigerians who have registered for the National Identification Number (NIN) will soon be able to request for a National ID card with payment functionality for all types of social and financial services.
The Lagos Chamber of Commerce and Industry (LCCI) has lamented the effect of high interest rate of CBN’s Treasury bill noting that it is drying up funds from the private sector into government’s treasuries.
Following the Central Bank of Nigeria's reforms, the country's currency has consistently appreciated against the US dollar and other foreign currencies since the first week of March 2024.
KPMG has said that the effectiveness of the Central Bank of Nigeria's (CBN) monetary tightening strategies may fall short unless Nigeria addresses the underlying supply-side constraints fuelling cost-push inflation.