CBN’s forex intervention rises 118% to $48bn
THE Central Bank of Nigeria, CBN, cash injection into the nation’s foreign exchange market rose by 118 percent to about $48 billion in 2018 from $22 billion in 2017.
Banking Sector Update: Bad loan rises further, hits N2.3trn
Against the backdrop of a challenging operating environment the banking sector performance update shows escalating bad loans as businesses that borrowed money struggle to survive.
Divergent naira outlooks as CBN increases forex intervention to forestall depreciation
The foreign exchange market is enveloped with a cloud of uncertainty, with analysts offering divergent outlooks over direction of naira exchange rate this week, following last week’s sharp depreciation of the nation’s currency in the parallel market last week.
Edo calls for review of CBN monetary policy
BENIN—EDO State Government has disclosed that the monetary policy of Central of Bank of Nigeria, CBN, has negatively affected commercial banks’ interest rates to Small and Medium Enterprises, SMEs.
CBN: Rebuilding the agriculture ‘pillar’
AGRICULTURAL development is one of the five major strategic combination methodologies needed to create quantum leap growth and sustainable development in the Nigerian economy. Other methodologies are the application of ‘The Big Push’, Schumpetarian growth model, Endogenous growth model and Interventionist policies.
Breaking: Presidency vows to recover $7bn CBN bailout to banks
The Presidency on Wednesday vowed to take all necessary measures to recover the $7 billion which the Central Bank of dashed commercial banks in 2006 as bailout cash.
