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Business

Dollar May Sell Below N1,000 As CBN Releases Fresh Forex To BDCs

The Naira may sell below N1000 as the Central Bank of Nigeria has communicated to Bureau de Change Operators about releasing another tranche of...
Business

Depleted Reserves Used To Settle Debts Owed International Creditors, Not To Defend Naira–Cardoso

The recent depletion of the nation’s foreign reserves was used to settle debts owed to international creditors and not to defend the naira as...
Business

Why We Excluded Retained Earnings From Banks Capitalisation Requirement- CBN

The Director of the Financial Policy and Regulatory Department (FPRD) at the Central Bank of Nigeria (CBN), Haruna B. Mustafa has said that the...
Business

JUST IN: CBN Crashes Dollar Further To N1,117.5/$ With Fresh FX Sales To BDCs

The Central Bank of Nigeria has again crashed the dollar to N1,117.5 with another sale of foreign currency (FX) to Bureau de Change dealers.The...
Business

Nigeria’s Forex Reserves Lose $693.5m After CBN Resumption Of Dollars Sales To BDCs

Nigeria’s gross foreign exchange reserves have shed at least $693.5m since the Central Bank of Nigeria resumed the sale of dollars to approved Bureau...
Business

Recapitalisation: No Need For Panic, Banks Assure Customers

The Association of Corporate and Marketing Communication Professionals of Banks (ACAMB) has said it welcomed the release of the circular of the Central Bank...
Business

Experts Kick Against 45% Uniform CRR For Banks, Hail CBN’s Decision On Recapitalisation

Economic experts on Friday commended the Central Bank of Nigeria’s (CBN) new minimum capital requirements for banks, pegging the minimum capital base for commercial...
Business

Higher Interest Rate Looms As CBN Raises MPR Further To 24.75%

The Central Bank of Nigeria has further raised the Monetary Policy Rate to 24.75 per cent, a decision influenced by the rising inflation in...
Business

CBN To Speed Up Recapitalisation Exercise For Banks

The Monetary Policy Committee has asked the Central Bank of Nigeria to fast-track the preparations for the proposed recapitalisation exercise of banks.The MPC gave...
Business

Emefiele Under Investigation For $2.4bn Invalid FX Claims-Cardoso

The Governor of the Central Bank of Nigeria, Olayemi Cardoso has said that law enforcement agencies have begun investigating the foreign exchange backlog claims...
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