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CENTRAL BANK OF NIGERIA
News and analysis about Central Bank of Nigeria
The Central Bank of Nigeria (CBN) has announced a significant inflow of over $1.5 billion into the Nigerian economy, a development that underscores the effectiveness of its monetary policy strategies.
The Central Bank of Nigeria (CBN), alongside law enforcement agencies, will closely monitor the Nigerian banking sector's recapitalization efforts to prevent the influx of illicit financing into the sector.
The Central Bank of Nigeria (CBN) successfully conducted an auction of Nigerian Treasury Bills (NTBs) on March 27, 2024, which saw a substantial amount of N1.64 trillion being sold, as shown in the auction result report.
Law enforcement agencies are currently investigating a series of invalid foreign exchange transactions valued at $2.4 billion, according to Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN).
At least 31 state governments in Nigeria have collectively borrowed N457.17 billion to pay salaries to their respective state civil services. This significant financial move was facilitated through the Salary Bailout Facility (SBF), a strategic intervention by the Central Bank of Nigeria (CBN) aimed at alleviating the fiscal pressures faced by these states.
Standard Chartered Bank has issued a notification to its clientele regarding the submission and verification of Tax Clearance Certificates (TCC). This latest communication is an update following the bank's previous advisories on the same matter.
A member of Nigeria's Monetary Policy Committee (MPC), Murtala Sabo Sagagi, has addressed the limitations of monetary policy in addressing the nation's escalating inflation amidst structural challenges.
The apex bank report indicates that N289 billion of the loans are performing, N67.9 billion is substandard and N418.9 billion is doubtful.
Farmers and agricultural firms in Nigeria are grappling with a massive debt burden as they struggle to repay N380.97 billion of the Central Bank of Nigeria's intervention loans by September 30, 2023.
The Central Bank of Nigeria (CBN) has sold N161.5 billion worth of Nigerian Treasury Bills (NTBs) across various maturities at its auction on March 13, 2024.
The Economist Intelligence Unit (EIU) has projected that Nigeria's Monetary Policy Rate (MPR) is expected to reach a peak of 23.75% this year.
The Central Bank of Nigeria (CBN) has disclosed that over 75% of bids received during the auctions of government securities held on March 1 and 6, 2024, were from foreign investors, showcasing their growing interest in Nigeria's financial instruments.