Tag
CENTRAL BANK OF NIGERIA
News and analysis about Central Bank of Nigeria
Nigerian consumers are bracing for a significant portion of their income to be spent on essential needs over the next six months.
Nigeria has witnessed a significant increase in capital outflows, totalling $1 billion in April 2024, an increase of 35.14% from $740 million recorded in the previous month.
Zenith Bank Plc is set to raise N290 billion through a combination of a Rights Issue and a Public Offer in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria (CBN).
The Nigerian naira showed little strength at the last trading session of the week, appreciating to below N1600 amid a volatile dollar index in global markets.
The federal government has raised N225.714 billion in the July 2024 bond auction, which is about 75% of its target as demand for short-term bonds weakens.
In May 2024, government in Nigeria secured N8.4 trillion in bank loans, amounting to 86% of the total domestic credit, a sixfold increase over the private sector's N1.4 trillion.
Debt instruments dominate capital importation into Nigeria in the first quarter of 2024, making up 94% of inflows.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the federal government has settled a swooping N7.3 trillion in ways and means advances to the Central Bank.
Nigeria recorded $282.61 million as total direct foreign exchange (FX) remittances in the first quarter (Q1) of 2024.
The Nigeria Labour Congress (NLC) has opposed the Central Bank of Nigeria (CBN)’s directive for all financial institutions to impose a 0.5% cybersecurity tax on every electronic transaction.
The Central Bank of Nigeria (CBN) has issued further clarifications on the utilization of foreign exchange proceeds by international oil companies (IOCs).
As Nigeria grapples with a staggering inflation rate of 33.2% in March, the recent directive from the Central Bank of Nigeria (CBN) regarding a cybersecurity levy has ignited widespread discontent among the populace.