Nigeria’s Foreign Reserves Dip By $77.23m Amid FX Crisis
In the ongoing battle to stabilize Nigeria's foreign reserves, figures from the Central Bank of Nigeria revealed a decline of about $77.23 million
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Nigerians Grapple With Soaring Living Costs, Borrow N740bn Amidst Inflation Surge
Nigerians have borrowed approximately N740 billion from banks between January and September this year, according to the Central Bank of Nigeria's quarterly economic reports.
CBN: Working Towards A Healthy Economy
By Arize Nwobu Some of the parameters that are used to define a healthy economy include the levels of imports and exports, exchange rate, interest rate, unemployment rate, consumer confidence and inflation rate. Exchange rate is the price of one currency
eNaira Sees Surge In Transaction Volume, Yet Adoption Lags Behind
The Central Bank of Nigeria (CBN) has revealed 284.6% increase in eNaira transaction volume for August 2023, reaching N9.78 billion, as reported in its Monthly Economic Report. Despite this spike, eNaira’s ratio to Currency-In-Circulation (CIC) remains at a modest 0.37%. “eNaira experienced
Our Banks Stable, Your Funds Are Safe, CBN Assures Depositors
Central Bank of Nigeria (CBN) has assured customers that their funds deposited in Nigerian financial institutions are safe and should continue to conduct their businesses.
Emefiele: CBN Investigator Summons Lemo Over Alleged Irregular Union Bank Acquisition
In a turn of events, the Office of the Special Investigator, led by Jim Obazee, has summoned Babatunde Lemo, the Chairman of Titan Trust Bank (TTB), regarding the acquisition of Union Bank of Nigeria Plc. The investigation stems from allegations of irregularities
CBN Lifts Restrictions On Cryptocurrency Transactions In Banks
The Central Bank of Nigeria has announced a review of its restrictions on cryptocurrency transactions in the country.
CBN Investigator’s Report Reveals How Emefiele, Others Stashed billions In 593 Accounts
A report by the independent investigator appointed by President Bola to probe activities of the immediate past administration of the Central Bank of Nigeria has alleged that the embattled former CBN governor, Mr Godwin Emefiele, operated 593 foreign accounts where billions of
BVN Registration Hits 59.9 Million As CBN Deadline Approaches
Latest data released by the Nigeria Inter-Bank Settlement System (NIBSS) revealed a surge in Bank Verification Number (BVN) registrations, reaching 59.9 million as of December 18, 2023
Cash Scarcity: CBN Warns Banks, PoS Operators Against Sabotage
Following the recent resurgence of scarcity of naira notes in some parts of the country, the Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and Point of Sale (POS) Operators to desist from certain actions that could be responsible
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