central bank of nigeria
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Business CBN to retire 1,000, offers N50bn payoff - Daily Trust
https://dailytrust.com/cbn-to-retire-1000-offers-n50bn-payoff/- Kayode Israel
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- central bank of nigeria daily trust news godwin emefiele naija news nigeria news olayemi cardoso
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Business CBN overhauls FX Market Rules, issues new guidelines with wide ranging implications - Nairametrics
https://nairametrics.com/2024/12/01/cbn-overhauls-fx-market-rules-issues-new-guidelines-with-wide-ranging-implications/- Kayode Israel
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- central bank of nigeria naija news nairametrics news olayemi cardoso
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- Forum: Business News Links
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Business 29 banks fined N15bn for anti-money laundering, counter-terrorism violations - Businessday
https://businessday.ng/banking-finance/article/29-banks-fined-n15bn-for-anti-money-laundering-counter-terrorism-violations/- Kayode Israel
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- anti-money laundering businessday news central bank of nigeria olayemi cardoso
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- Forum: Business News Links
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Nigeria MPC Expected to Raise Interest Rates Again to Combat Inflation and Fiscal Issues
The Central Bank of Nigeria's Monetary Policy Committee (MPC) is expected to raise interest rates again at its final meeting of 2024, addressing rising inflation and fiscal pressures. Analysts predict a 25-50bps increase, aiming to stabilize prices, manage money supply growth, and attract...- Nigeria News
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- central bank of nigeria inflation in nigeria interest rate hike monetary policy mpc meeting
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Nigeria MultiChoice Faces Financial Setback as $21 Million Is Forfeited Due to Heritage Bank’s Collapse
MultiChoice forfeited a $21 million deposit with Heritage Bank after the bank's liquidation in 2024. The loss is part of the company's financial challenges in Nigeria, including a drop in cash remittances and subscriber losses, worsened by inflation and naira devaluation. MultiChoice Group has...- Nigeria News
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- $21 million loss central bank of nigeria heritage bank multichoice multichoice group naira devaluation
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Business FX amnesty scheme: Banks can trade with deposited foreign currencies, says CBN - The Cable
https://www.thecable.ng/fx-amnesty-scheme-banks-can-trade-with-deposited-foreign-currencies-says-cbn/- Kayode Israel
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- adetona adedeji central bank of nigeria john sonojah naija news nigeria news the cable news
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Nigeria Emefiele Trial: Witness Claims He Was Advised to Avoid Record-Keeping for $3 Million Cash
A key witness in the trial of former Central Bank of Nigeria governor Godwin Emefiele testified that Emefiele instructed him not to keep records of over $3 million cash collected on his behalf. The revelations highlight serious allegations of money laundering and raise concerns about...- Nigeria News
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- central bank of nigeria efcc trial godwin emefiele money laundering
- Category: Metro
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Nigeria Nigerian Lawmakers Push for Swift Withdrawal of Old Naira Notes
The Nigerian House of Representatives has urged the Central Bank to withdraw old Naira notes and enhance the circulation of new N200, N500, and N1000 notes. Lawmakers emphasized the need for public awareness ahead of the December 31, 2024 deadline, reflecting on past currency redesign...- Nigeria News
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- central bank of nigeria currency withdrawal naira notes nigerian lawmakers
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Nigeria Emefiele's Trial: Former CBN Acting Governor Exposes Naira Redesign Politics
Folashodun Shonubi, former acting governor of the Central Bank of Nigeria, testified in court revealing political influences behind the 2022 naira redesign. He disclosed discrepancies between the approved and actual currency notes, as former CBN Governor Godwin Emefiele faces charges from the...- Nigeria News
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- central bank of nigeria emefiele naira redesign
- Category: Metro
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![Today's Naira Rate[27-09-2024]: Parallel Market Rate Reaches N1,700—What This Means for Nigeria](/data/attachments/208/208726-4783f128adc190a22844bc3d66f36e78.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[27-09-2024]: Parallel Market Rate Reaches N1,700—What This Means for Nigeria
The Nigerian naira has depreciated to N1,700 per dollar in the parallel market, marking the lowest rate in seven months. Despite a temporary rise in the official market, the naira continues to face fluctuations. The Central Bank of Nigeria is implementing reforms to stabilize the currency. On...- Nigeria News
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- central bank of nigeria foreign exchange rates parallel market
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Nigeria Nigeria’s External Reserves Surge to $37.31 Billion, Highest in 22 Months
Nigeria's external reserves reached a 22-month high of $37.31 billion in September 2024, fueled by foreign investments, government bonds, and remittances. Despite the boost in reserves, the naira remains weak. Key inflows include AfreximBank loans, World Bank support, and rising foreign...- Nigeria News
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- central bank of nigeria foreign investments nigeria naira currency performance nigeria external reserves
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![Today's Naira Rate[03-09-2024]: Naira Faces Pressure as Black Market Dollar Rate Climbs to N1,635](/data/attachments/207/207915-ea497993bb234d0daa3e0be495e1a2ca.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[03-09-2024]: Naira Faces Pressure as Black Market Dollar Rate Climbs to N1,635
As of September 3, 2024, the black market exchange rate for the US dollar to Nigerian naira reached N1,635. This rate reflects a significant disparity with the Central Bank's official rate of N1,590.42, highlighting ongoing economic challenges and currency volatility in Nigeria's foreign...- Nigeria News
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- black market exchange rate central bank of nigeria dollar to naira rate nigeria currency volatility
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![Today's Naira Rate[31-08-2024]: Naira Falls to N1,645 Against Dollar Despite CBN Interventions](/data/attachments/207/207791-31fa721aaf6302a0c356371f7a19343c.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[31-08-2024]: Naira Falls to N1,645 Against Dollar Despite CBN Interventions
The Naira depreciated significantly, losing N30 in the parallel market and N28.48 in the official market last week. It fell to N1,645 against the dollar amid the Central Bank of Nigeria's Retail Dutch Auction System, despite an increase in foreign exchange transaction turnover. In the past...- Nigeria News
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- central bank of nigeria foreign exchange market naira depreciation naira to dollar rate retail dutch auction system
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![Today's Naira Rate[24-08-2024]: Naira Strengthens to N1570.14/$ Amid Dollar's Decline Against British Pound](/data/attachments/207/207580-655662235f6446531fbadf1468b4d487.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[24-08-2024]: Naira Strengthens to N1570.14/$ Amid Dollar's Decline Against British Pound
The Naira strengthened against the US dollar, rising to N1570.14/$, while weakening against the British pound, which hit a two-year high. The Central Bank of Nigeria’s efforts contributed to the Naira’s stability, but businesses still anticipate further depreciation before potential recovery...- Nigeria News
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- british pound cbn central bank of nigeria currency market n1570.14/$ two-year low
- Category: Business
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![Today's Naira Rate[21-08-2024]: Naira Weakens Further, Black Market Rates Reach N1,615 Per Dollar](/data/attachments/207/207447-212178087eb0d283118d468115956c78.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[21-08-2024]: Naira Weakens Further, Black Market Rates Reach N1,615 Per Dollar
The Naira dropped N27.58 against the dollar in just two days, reaching N1,592.06 at the official market. In the black market, it fell to N1,615. The Central Bank of Nigeria's recent interventions are under scrutiny as the currency continues to weaken amid inconsistent foreign exchange policies...- Nigeria News
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- central bank of nigeria naira exchange rate nigerian forex market
- Category: Business
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![Today's Naira Rate[29-07-2014]: Naira Plummets Further, Hits N1,611.40 per Dollar Despite CBN Intervention](/data/attachments/206/206658-3c44473101cfdb95816e4fca0635f7db.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[29-07-2014]: Naira Plummets Further, Hits N1,611.40 per Dollar Despite CBN Intervention
The naira continues to fall against the dollar, with official rates dropping to N1,611.40 and black market rates to N1,600. Despite the Central Bank's $148 million intervention, the naira's value has declined, sparking concerns and calls for economic reforms to stabilize Nigeria's currency. The...- Nigeria News
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- central bank of nigeria naira depreciation naira to dollar exchange rate nigerian currency decline
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Nigeria Naira's Freefall: Banks’ FX Borrowing from CBN Heightens Pressure on Currency
The Naira has dropped sharply as banks’ borrowing from the Central Bank of Nigeria (CBN) for foreign exchange (FX) rises to 32%. This increase in borrowing rates has intensified pressure on the Naira, contributing to significant declines in both official and parallel market rates. The recent...- Nigeria News
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- 2 min read
- cbn borrowing rates central bank of nigeria fx market nigeria naira depreciation naira to dollar exchange rate
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Nigeria Economic Pressures Lead to Major Reduction in Nigeria’s Foreign Education Forex Spending
Nigerians spent $38.17 million on foreign education in Q1 2024, an 83% drop from 2023, per CBN data. Factors include economic challenges and new forex regulations. Despite this, Q1 2024 saw a 54% increase from Q4 2023. Stringent measures on forex purchases for education and medical expenses are...- Nigeria News
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- cbn central bank of nigeria foreign education expenses nigeria forex utilization
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Nigeria CNG Criticizes Tinubu's Economic Policies, Labels Them 'Trial-and-Error
The Coalition of Northern Groups criticizes the Central Bank of Nigeria's Monetary Policy Committee, calling it the worst since 1999, and blames President Tinubu's economic team for worsening Nigeria's economic hardship with ineffective policies. The Coalition of Northern Groups (CNG) has...- Nigeria News
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- 2 min read
- central bank of nigeria cng monetary policy committee tinubu economic team
- Category: Politics
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Nigeria Naira Hits N1,620/$ in Parallel Market as Depreciation Continues
The naira fell to N1,620 against the dollar in the parallel market on July 18, marking its fifth straight day of depreciation. Official rates showed a slight recovery to N1,566.82. The Central Bank of Nigeria's interventions and calls for stabilization highlight ongoing concerns about currency...- Nigeria News
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- 2 min read
- central bank of nigeria foreign exchange market naira depreciation naira exchange rate nigeria currency parallel market
- Category: Business
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