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CBN guns for stable currency, FPIs as rates hike hurts businesses

• Rate hike  lazy approach to fixing crisis, experts insist • Inventory may continue to pile up • Yusuf, Akpan, others kick against MPR hike fixationRaising the monetary policy rate by...
Business

Cardoso Tasks CBN Officials On Prudent Management Of Resources

Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has tasked officials of the bank and other government functionaries to be prudent...
Business

CBN clears valid FX transactions backlog

The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of $7 billion have now been settled3,The Central Bank of...
News

Nigeria’s external reserves down by $520m in five weeks

The apex bank’s data on movement in reserves show that the reserves which stood at $33.396bn as of October 31, 2023 fell to $33.004bn...
Business

Court decisions can affect foreign direct investments, CBN admits

Yemi Cardoso, governor of the apex bank said this in Abuja on Monday at the 22nd national seminar on banking and allied matters for...
Business

CBN faces more forex challenge, as naira gains 20% and loses 40%

Despite massive appreciation of the naira against the dollar on Friday at the official market, events of last week are raising concerns that recent...
Business

My Main Focus As CBN Governor Is Price Stability- Cardoso

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated that under his leadership, the Bank will focus mainly on...
Business

JP Morgan projects Naira will trade at N850/$ by Dec 2023

The financial institution made the projection on Wednesday in its report titled ‘Nigeria local markets strategy: Getting set for re-opening’.According to JP Morgan, achieving...
Business

Mixed reactions trail unbanning of 43 items

Two weeks ago, the Central Bank of Nigeria announced the unbanning of 43 items from accessing forex. In reversing the policy, the CBN explained...
Business

Mixed reactions as CBN lifts ban on 43 items to stem hunger, inflation

Eight years after CBN banned importation of 43 items by restricting them from Fx window, the new Central Bank governor, Dr. Yemi Cardoso announced...
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