Foreign currency loans make up 94% of Nigeria’s capital importation in Q1 2024
Debt instruments dominate capital importation into Nigeria in the first quarter of 2024, making up 94% of inflows.
Tag: Central Bank of Nigeria
News and analysis about Central Bank of Nigeria
FG has paid back N7.3 trillion of ways and means outstanding so far — Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the federal government has settled ...
Diaspora remittances fall 6.28% to $282.61 million in Q1 2024 amid CBN’s reforms
Nigeria recorded $282.61 million as total direct foreign exchange (FX) remittances in the first quarter (Q1) of 2024.
NLC rejects CBN’s 0.5% cybersecurity levy, calls for policy reversal
The Nigeria Labour Congress (NLC) has opposed the Central Bank of Nigeria (CBN)’s directive for all financial institutions to impose ...
Oil firms can spend 50% FX proceeds on financial obligations – CBN
The Central Bank of Nigeria (CBN) has issued further clarifications on the utilization of foreign exchange proceeds by international oil ...
More Nigerians groan over CBN cybersecurity levy
As Nigeria grapples with a staggering inflation rate of 33.2% in March, the recent directive from the Central Bank of ...
Credit to private sector crashes by N9.65 trillion in one month
Nigeria's credit to the private sector has seen a sharp decline of approximately N9.65 trillion from February to March 2024. ...
30% of Nigeria’s external reserves are FX bank swaps – Fitch
The global credit ratings agency, Fitch, has estimated that approximately 30% of Nigeria’s external reserves are constituted by foreign exchange (FX) ...
Government palliative purchases driving food inflation in Nigeria – Cardoso
Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has said that government purchases of palliatives are a ...
Top 10 sectors that got highest forex from CBN in 2023
Latest data from the CBN shows that the apex bank released $21.12 billion to different sectors in 2023.
