CBN Raises Benchmark Interest Rate To 22.75%
he Central Bank of Nigeria has raised the monetary policy rate (MPR) by 400 basis points to a record 22.75 per cent. This was announced by the CBN governor, Yemi Cardoso
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CBN Pays Out Additional $400m To Settle Forex Backlog
The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, on Tuesday, disclosed that the CBN has paid out an additional $400 million to settle forex backlog owed.
Peg Import Duty Dollar Rate At N1000/$ – CPPE Urges CBN
The Centre for the Promotion of Private Enterprise (CPPE), has urged the Central Bank of Nigeria (CBN) to peg exchange rate for Customs duty assessment at ₦1,000/$ to alleviate the financial difficulties faced by importers at the nation's ports.
CBN Issues New Guidelines For BDCs Operations In Nigeria, Bars Financing Political Activities With Dollars
CBN has released a document containing revised regulatory and supervisory guidelines for Bureau De Change (BDC) Operations in Nigeria.
Adopt Official FX Rate For Import Duty Assessment, CBN Tells Nigeria Customs
Following concerns raised by importers about irregular changes in import duty assessment levies applied by Nigeria Customs Service (NCS), in recent times, the Central Bank of Nigeria (CBN) has directed NCS and other related parties to adopt the closing official rate of
Forex Crisis: Go After Powerful Forces In Parallel Market Strangulating Naira, Don Tells Nigerian Govt
Professor of Economics, Sam Olofin, has charged the Nigerian government to fish out and prosecute those he called “powerful operators” in foreign exchange market to rescue the naira from collapse.
Why CBN Adopted Market-based Approach In Managing Forex – Cardoso
Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has advanced reasons the monetary authority decided to adopt the policy of allowing market forces determine rates in the foreign exchange market in the country.
Naira Trades For N1,900/$1 Despite Rising Demand: CBN, EFCC Collaborate To Tackle Currency Speculators
The Nigerian Naira experienced a slight appreciation against the United States dollar in trading sessions, despite concerns over widening gaps between official and parallel market rates. As per data from the FMDQ Securities Exchange, the local currency closed at N1,542.58 per dollar
NSA, EFCC To Collaborate With CBN To Curb Forex Crisis Amidst Economic Hardship
In a move aimed at tackling the rampant forex speculation plaguing Nigeria’s economy, the National Security Adviser’s Office (NSAO), under the leadership of Nuhu Ribadu, has joined hands with the Central Bank of Nigeria (CBN) to initiate a collaborative effort. Zakari Mijinyawa,
Aso Villa, DHQ, CBN, 83 Other MDAs To Face Disconnection Over N47bn Debt
Over 86 government ministries, agencies, and departments (MDAs) are facing disconnection by the Abuja Electricity Distribution Company (AEDC) due to a debt totaling N47 billion. The AEDC issued a public notice highlighting the unpaid bills, warning of imminent disconnection if the debts
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