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CENTRAL BANK OF NIGERIA
News and analysis about Central Bank of Nigeria
A forensic document analyst from the Economic and Financial Crimes Commission (EFCC), Bamayi Haruna told the Federal Capital Territory High Court on Thursday that former president Muhammadu Buhari never approved the use of $6.3 million by the Central Bank of Nigeria
CBN is working with IMF to establish a comprehensive framework to address volatility in the foreign exchange market.
The National Assembly has made strides with a proposal that could see the CBN capital base soar to a whopping N1 trillion.
The Governor of the CBN, Yemi Cardoso, is slated to engage with foreign portfolio investors in a crucial meeting on Wednesday, Feb 28, 2024.
CPPE has said that the outcome of the MPC meeting of 27th February 2024 would hurt the real sector of the economy.
In a move aimed at rectifying the persisting distortions in the retail segment of Nigeria's foreign exchange market, the Central Bank of Nigeria (CBN) has taken a decisive step to bridge the widening gap in the exchange rate.
Data from CBN's website revealed that Nigeria's foreign exchange reserves reached a six-year low of $32.87 billion as of the end of December.
The Association of Bureau De Change Operators of Nigeria (ABCON) has asked the Central Bank of Nigeria (CBN) to increase the minimum capital requirement of forex traders to do business from the present N35 million to N350 million ($454,888).
Ten banks paid N227.3 billion to AMCON as sector resolution cost in 2022, led by Access Bank, Zenith Bank, and UBA.
The Central Bank of Nigeria has debunked reports claiming that the apex bank has devalued the naira to N631/$1.
The apex bank said the licences were revoked because the companies had either remained inactive, insolvent, failed to render returns, or closed shop.
The refinery can produce 650 thousand BPD, which is the largest single train in the run, including processing capacity.