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YEMI CARDOSO
President Bola Tinubu has established an Economic Management Team Emergency Taskforce (EET), tasked with creating and executing a unified emergency economic strategy.
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso has stated that the current spate of monetary policy tightening measures by the CBN will not be long drawn and there will be relaxed once there are substantial improvements in the economy in terms of inflation and exchange rate.
The governor of the Central Bank of Nigeria, Yemi Cardoso, has made it clear in the context of the recent clash between the federal government and Binance, that the task of regulating cryptocurrency trading platforms does not fall to the CBN.
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).
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 made a substantial contribution to the agricultural sector by donating over 2 million bags of fertilizers, with a total value of N100 billion, through the Federal Ministry of Agriculture and Food Security to farmers.
Data from the Nigerian Exchange (NGX) reveals that foreign participation in the Nigerian equities market dropped to 8.15% in January 2024, a decline compared to 13.92% and 12.76% recorded in the previous and corresponding month of 2023.
Olayemi Cardoso says that the remainder of the bank’s FX backlogs will be cleared in the next few days- most likely in a week and a half.
Mr. Olayemi Cardoso, the CBN headmaster, is implementing a strategy involving the removal of subsidies, floating the Naira, and encouraging foreign portfolio investment (FPI). The goal is to stabilize the Naira and create breathing space for the fiscal team to address underlying economic dysfunctions.
Nigeria's broad money supply surged to a historic high of N93.72 trillion as of January 2024, marking a remarkable ascent.
President Bola Tinubu has stated that the federal government is looking to raise about $10 billion in revenue to boost liquidity in the foreign exchange market.
Governor Yemi Cardoso has disclosed that the foreign exchange market received a boost of over $1 billion in liquidity in the past few days.