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CBN - Page 12

Nigeria’s Current Economic Stress May Linger For 3 Years – Moghalu

As Nigerians grapple with the current economic hardship caused by high inflation and foreign exchange (Forex) instability, a former deputy governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, has projected that it may linger for a minimum of two

April 23, 2024

Naira Ends Week With N30 Gain In Black Market: Hope For Naira?

Business·Markets·News

Naira Slumps To N1,234/$1 At Official Market

The Nigerian Naira witnessed a decline against the United States dollar, hitting N1,234 at the official foreign exchange market on Monday. This marks a notable fall of N65 or 5.26 percent from its previous rate of N1,169.99/$1. The downward spiral follows recent

April 23, 2024

Just In: CBN Resumes Fx Sale To BDCs At N1,021/$1

Business·Markets·News

Fluctuation In FX Rate Will Persist But We’re Working Towards Stability, Says Cardoso

Yemi Cardoso, the Governor of the Central Bank of Nigeria, addressed concerns about the fluctuating foreign exchange (FX) rates in Nigeria. He said this during a briefing at the World Bank/IMF Spring Meetings in Washington DC, emphasizing that stability in the FX

April 21, 2024

Business·News

CBN Slashes Loan-to-Deposit Ratio To 50%, Mandates Banks To Adjust Operations

In a move aimed at tightening its monetary policy, the Central Bank of Nigeria (CBN) has announced a reduction in the Loan-to-Deposit Ratio (LDR) for commercial banks from 65 percent to 50 percent. This means that banks are now allowed to lend

April 18, 2024

Business·News

CBN Drops Interest Rates On 1-year Treasury Bills By 42.4 bps To 20.7% Amidst Robust Investor Confidence

In its latest move to manage liquidity and ensure stability in Nigeria’s financial market, the Central Bank of Nigeria (CBN) conducted an auction of Treasury bills (NT-bills) on April 12, 2024. The auction witnessed a significant drop in the yield on the

April 13, 2024

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st July 2025

Business·Currency·Finance & Economy

Naira Ends Week Positively, Inches Closer To Below ₦1,000/$1 Exchange Rate

Nigeria’s local currency, the naira, has continued to sustain its appreciation, ending the week on a positive note as it marches closer to below ₦1,000 mark in both parallel and official windows of the foreign exchange market. According to the Nigeria Autonomous

April 13, 2024

Forex Crisis: CBN Sells $122.67m To 46 Authorised BDC Operators

Business·Markets·News

Tighten Access To Forex For Non-Oil Exporters- ABCON Tells CBN

The Association of Bureau De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to tighten access to foreign exchange (forex) for non-oil exporters. ABCON President, Dr. Aminu Gwadabe, emphasized the need for this measure during a

April 11, 2024

CPPE Highlights Why Nigerian Govt Should Review Customs FX Rate For Cargo Clearance

Business·Markets·News

CBN Exchange Rate Intervention Spurs Importers’ Relief Amid Customs FX Rate Decline T0 N1,238/$1

Importers in Nigeria have found a silver lining in the dip in the FX rate used by the Nigeria Customs Service (NCS) for clearance of goods. The rate, which dropped from N1,246.66/$ to N1,238.17 to the USD, has brought a sigh of

April 10, 2024

Energy, Exchange Rate, Transportation Top Three Drivers Of Inflation In Nigeria - CBN Survey

Business·Currency·Finance & Economy·News

Why CBN Banned Use Of Foreign Currency Collaterals For Naira Loans

The Central Bank of Nigeria (CBN) has tightened regulations surrounding loan collaterals, specifically targeting the use of foreign currencies.

April 9, 2024

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Currency

CBN Releases Another Round Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

In its relentless push to stabilise naira in the foreign exchange market, the Central Bank of Nigeria (CBN), has announced another round of sales of FX to eligible Bureau de Change (BDCs) operators.

April 8, 2024

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CBN - Page 12

Nigeria’s Current Economic Stress May Linger For 3 Years – Moghalu

Naira Slumps To N1,234/$1 At Official Market

Fluctuation In FX Rate Will Persist But We’re Working Towards Stability, Says Cardoso

CBN Slashes Loan-to-Deposit Ratio To 50%, Mandates Banks To Adjust Operations

CBN Drops Interest Rates On 1-year Treasury Bills By 42.4 bps To 20.7% Amidst Robust Investor Confidence

Naira Ends Week Positively, Inches Closer To Below ₦1,000/$1 Exchange Rate

Tighten Access To Forex For Non-Oil Exporters- ABCON Tells CBN

CBN Exchange Rate Intervention Spurs Importers’ Relief Amid Customs FX Rate Decline T0 N1,238/$1

Why CBN Banned Use Of Foreign Currency Collaterals For Naira Loans

CBN Releases Another Round Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

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