Tag
YEMI CARDOSO
Nigeria recorded $282.61 million as total direct foreign exchange (FX) remittances in the first quarter (Q1) of 2024.
The Nigerian government has raised N380.769 billion in a highly subscribed bond auction conducted on May 13, 2024.
Following several weeks of a downward trend, Nigeria's foreign exchange reserves have witnessed a marginal resurgence of about $262 million over 19 days.
The global credit ratings agency, Fitch, has estimated that approximately 30% of Nigeria’s external reserves are constituted by foreign exchange (FX) bank swaps.
This disclosure underscores ongoing uncertainties regarding the country’s net FX reserves, exacerbated by opaque entries amounting to nearly $32 billion in FX forwards, over-the-counter futures, and currency swaps listed as off-balance sheet commitments in the Central Bank of Nigeria's (CBN) consolidated financial statement for 2022.
Latest data from the CBN shows that the apex bank released $21.12 billion to different sectors in 2023.
The federal government has signed an agreement called the Aso Accord with state governments and private sector stakeholders to make financial services affordable and accessible to all Nigerians, including those who are disadvantaged or have low incomes.
The Central Bank of Nigeria (CBN) has issued another circular to Bureau De Change operators (BDCs), informing them of the direct sales of US dollars to BDCs at a discounted rate of N1,021 per dollar.
The Central Bank of Nigeria (CBN) task force formed to double remittance inflows into Nigeria will report directly to Yemi Cardoso, the Governor of the CBN.
Nigeria's foreign exchange (FX) reserves have maintained a one-month dip streak. The latest figures from the Central Bank of Nigeria (CBN) show the reserves reached a new low of $32.12 billion on April 17, 2024. The reserves dropped by $2.33 billion in 31 days, from $34.45 billion on March 18, 2024.
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso has addressed concerns over the declining external...
Nigeria's foreign exchange (FX) reserves have witnessed a significant downturn, plunging by approximately $1.84 billion in 26 days, amidst the Central Bank of Nigeria's (CBN) robust efforts to stabilise the naira.
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.