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JUST IN: To Boost Forex Liquidity, CBN Directs Banks To Withold 50% Of International Oil Companies’ Export Proceeds For 90 Days

International Oil Companies (IOCs) will be unable to repatriate all proceeds from crude oil exports at a time as the Central Bank of Nigeria...

Business

Naira Crashes To N1,580 Despite Five Circulars Issued By CBN

The naira has continued its losing streak and has reached a record low against the US dollar despite a boast by the Central Bank...

Business

Nigeria’s Stock Market Records First Weekly Fall Of 2024 Amidst Forex Crisis

A drop in equity purchases by local and foreign investors has pushed the stock market down by 2.45 per cent, signalling the first weekly...

Business

CBN Removes 2.5% Spread On FX Transaction, Reintroduces ‘Willing Buyer, Willing Seller’ Policy

The Central Bank of Nigeria has removed the spread it placed on foreign exchange transactions barely seven months after it reintroduced the “Willing Buyer...

Business

‘We Don’t Have Magic Wand To Solve FX Crisis’— Cardoso

The Central Bank of Nigeria has disagreed with the position of the Senate on its reform measures saying the apex bank policies have attracted...

Business

CBN Tightens Rules To Protect Customers From Exploitation By Banks, Loan App, Others

The Central Bank of Nigeria has begun tightening its rules to protect consumers of financial services.Customers of banks and other Financial Service Providers (FSP)...

Business

$2.4bn Invalid FX Backlogs: Aigbe Backs CBN To Discipline Offenders

The comment by the Central Bank Governor, Olayemi Cardoso, that the bank will not honour $2.4bn backlog it inherited from past governors over their...

Business

NNPCL’s Decision To Move Account To CBN Boosting Investors’ Confidence, Solving FX Crisis— Cardoso

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that the decision made by the Nigerian National Petroleum Company Ltd to...

Business

Tough Policy Choices Ahead Of Cardoso’s First MPC As IMF Warns Against Premature Interest Rate Cut

The International Monetary Fund has projected that inflation will fall faster than expected but the institution warned against the premature reduction of Monetary Policy...

Business

Contrary To Reports, NNPC Ltd Offered To Domicile Accounts In CBN To Boost Forex Liquidity

Contrary to reports published in some section of the media (Not THE WHISTLER), that the Federal Government directed the Nigerian National Petroleum Company Limited...

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