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CBN - Page 9

CBN’s Independence Under Threat As Senate Proposes Amendments

The Nigerian Senate’s proposed amendments to the Central Bank of Nigeria (CBN) Act of 2007 have sparked a heated debate. The amendments, which aim to introduce stricter controls over the CBN’s operations, have raised concerns among economists and business leaders, including the

May 26, 2024

Don't Japa- Cardoso Urges Nigerian Youths To Stay, Build The Nation Despite Economic Reforms

Business·News

Nigeria Records 136% of 2023 FX Inflow In First 3 Months Of 2024 – Cardoso Reveals

The Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, has revealed a significant increase in foreign exchange (FX) inflows in the first quarter of 2024, marking a 136% rise compared to the total inflows recorded in 2023. This milestone

May 24, 2024

Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

Business·Markets·News

Nigeria’s FX Reserves Rise By $535m In 28 Days Amidst Market Volatility

Nigeria’s foreign exchange (FX) reserves have shown a notable increase of approximately $535 million in just under a month, highlighting a positive trend amidst ongoing economic uncertainties. According to recent data from the Central Bank of Nigeria (CBN), the country’s FX reserves

May 21, 2024

Business·News

Food Imports Hit N3trn Over Insecurity, Others – CBN

The Central Bank of Nigeria (CBN) has disbursed a substantial $2.13 billion in 2023 for food imports, highlighting persistent challenges in the country’s agricultural sector despite efforts to boost local production. According to quarterly data from the CBN, the funds were allocated

May 21, 2024

Business·News·Technology

CBN Directs Bank To Stop Implementation Of 0.5% Cybersecurity Levy On Transactions

The Central Bank of Nigeria (CBN) has rescinded its recent directive regarding the collection and remittance of the cybersecurity levy, mandated under the Cybercrime Prevention and Prohibition Amendment Act of 2024. The decision announced through a revised circular dated May 17, 2024,

May 20, 2024

Nigerian Naira Vs U.S. Dollar: What To Expect This Week (17th-22nd, March 2025)

News

Naira Depreciates To N1,533/$1 At Official Rate Amidst Market Turbulence

The Nigerian naira faced depreciation against the US dollar on Thursday, reaching N1,533.99 per dollar in the official NAFEM Window. This marks a notable 4.89% decline from the previous day’s rate of N1,459.02/$1, underscoring the volatile nature of the currency market. “This

May 17, 2024

Economy: Don’t Suffocate Businesses, CPPE Warns Regulatory Agencies

Business·News

Be Cautious On Monetary Policy Tightening As Businesses Yet To Recover From Previous Hikes, CPPE Tells CBN

Ahead of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) meeting later this month, the Centre for the Promotion of Public Enterprise (CPPE) has issued a plea for a cautious approach towards monetary policy tightening. The CPPE emphasized that businesses

May 16, 2024

Business·Markets·News

Naira Bounces Back After 1 Week Depreciation, Hits 1,459.02/$1

The Naira showed resilience as it bounced back against the dollar at the end of Wednesday, recovering from a week-long depreciation in both official and unofficial foreign exchange markets. “I’m glad to see the Naira making a strong comeback,” remarked Mr. Adekunle,

May 16, 2024

CBN Raises Benchmark Interest Rate To 26.75% Amid Soaring Inflation

Finance & Economy·Opinion

CBN Governor And Waste Of Economic Terms

Recently during a Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN) in March 2024, the CBN governor, Olayemi Cardoso, said that government’s large-scale purchase of foodstuff as palliatives is contributing to the country’s rising food inflation

May 15, 2024

Business·News

CBN Raises Exchange Rate For Import Duties To 1457$1

In response to the ongoing fluctuations in the currency market, the Central Bank of Nigeria (CBN) has adjusted the exchange rate used for calculating import duties at the nation’s seaports. The new rate, set at N1,457.014/$, marks a notable increase from the

May 14, 2024

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CBN - Page 9

CBN’s Independence Under Threat As Senate Proposes Amendments

Nigeria Records 136% of 2023 FX Inflow In First 3 Months Of 2024 – Cardoso Reveals

Nigeria’s FX Reserves Rise By $535m In 28 Days Amidst Market Volatility

Food Imports Hit N3trn Over Insecurity, Others – CBN

CBN Directs Bank To Stop Implementation Of 0.5% Cybersecurity Levy On Transactions

Naira Depreciates To N1,533/$1 At Official Rate Amidst Market Turbulence

Be Cautious On Monetary Policy Tightening As Businesses Yet To Recover From Previous Hikes, CPPE Tells CBN

Naira Bounces Back After 1 Week Depreciation, Hits 1,459.02/$1

CBN Governor And Waste Of Economic Terms

CBN Raises Exchange Rate For Import Duties To 1457$1

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