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YEMI CARDOSO
The Central Bank of Nigeria (CBN) governor, Yemi Cardoso, has raised concerns about the growing transaction volumes of Non-Bank Financial Institutions (NBFIs) and Other Financial Institutions (OFIs), citing significant risks to financial stability.
The Governor of the Central Bank, Yemi Cardoso, stated that the country has already experienced the worst of naira volatility regarding foreign exchange.
The governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said that the country recorded a total foreign exchange inflow of about $24 billion in the first quarter of 2024.
The performance of the agricultural sector in the first quarter of the year reflects the current situation with food security across the country.
In a surprise move, the Central Bank of Nigeria (CBN) announced it has revoked Heritage Bank's operating license, effectively closing the institution and placing depositors at the mercy of the Nigeria Deposit Insurance Corporation (NDIC).
The Central Bank of Nigeria (CBN), under Governor Yemi Cardoso, has increased the monetary policy rate (MPR) by 750 basis points so far, from 18.75% to 26.25%, with an eye on combating inflation and fostering economic stability.
Foreign portfolio investment (FPI) outflows surged by 237% in the first quarter (Q1) of 2024 compared to the same period in 2023.
Naira appreciated slightly on the official market, despite a substantial 66% increase in foreign exchange (FX) supply and a new rate hike by the Central Bank of Nigeria (CBN).
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has stated that the bank aims to double diaspora remittance inflow within this year.
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has listed high foreign exchange rate on imported food items, insecurity in farming communities as some of the key factors driving food inflation in the country.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has attributed the recent volatility in the foreign exchange market leading to the recent depreciation of the Naira against the dollar to “seasonal demand” for the greenback.
The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has increased the benchmark interest rate by 150 basis points to 26.25% from 24.75%.