The Central Bank of Nigeria (CBN) appointed 16 directors to enhance operations across key departments. The move aims to improve policy, regulatory, and supervisory functions, ensuring economic stability and innovation. New leaders include heads of IT, banking services, monetary policy, and...
The Central Bank of Nigeria (CBN) has kept the Monetary Policy Rate at 27.5% to stabilize the economy. Governor Olayemi Cardoso confirmed that other key monetary parameters remain unchanged, including the cash reserve ratio and liquidity ratio. The decision reflects CBN’s cautious stance in...
The Central Bank of Nigeria (CBN) has introduced new ATM withdrawal charges, requiring customers to pay ₦100 per ₦20,000 withdrawn from other banks' ATMs. Off-site ATMs will incur an additional ₦500 surcharge. The policy, effective March 1, 2025, aims to ensure cash availability while helping...
The Nigerian naira has stabilized in the parallel market at N1,570/$1 after fluctuating earlier in the week. Meanwhile, official rates show minor declines. Despite this relative stability, analysts warn that market forces, policy interventions, and dollar supply will continue to influence the...
The Nigerian Naira saw a significant appreciation in the parallel market on Monday, strengthening to N1,590 per US dollar from N1,610 the previous week. However, in the official foreign exchange market, the currency depreciated to N1,495.60 per US dollar, down from N1,474.78.
The Nigerian...
The Nigerian naira strengthens to ₦1,640 per dollar in the parallel market, reflecting positive trends amid ongoing reforms by the Central Bank of Nigeria (CBN). The CBN’s policy interventions, including the launch of EFEMS and the FX code, are expected to stabilize the currency and attract...
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.