By Emma Ujah, Abuja Bureau Chief   Amidst multiple points crises in the economy, the Governor of Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has said that he is committed to building a resilient apex bank that would address all the challenges successfully. Speaking at the dinner of the just concluded 30th  edition of the Nigeria […]

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has clarified that the apex bank does not determine the foreign exchange rate, stating that it is driven by economic fundamentals.

The Central Bank of Nigeria (CBN), in collaboration with the Development Bank of Nigeria (DBN) and the Bank of Industry (BoI), has signed the Women Entrepreneurs Finance (We-Fi) Code, a commitment aimed at mobilizing funds to close the N294 billion financing gap faced by women entrepreneurs in Nigeria. The signing of the code, a global initiative, took place in Abuja.

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has said that the Bank’s decision to implement the Electronic Foreign Exchange Matching System (EFEMS) is rooted in the understanding that trust is essential to central banking.

•Earnings rise 132% to N11.7trn, as profit skyrockets 101.9%  •Interest income nears N7trn  •Credit to private sector declines 4.3%  •Analysts warn of looming danger to economy

The Central Bank of Nigeria (CBN) has announced the introduction of the Electronic Foreign Exchange Matching System (EFEMS) for Foreign Exchange (FX) transactions within the Nigerian Foreign Exchange Market (NFEM).

“We may begin to see more ailing or comatose businesses. Our competitiveness… will be further be challenged as made-in-Nigeria products will be naturally more expensive than before”

“Our competitiveness in the national, continental and global business will be further challenged as Made-in-Nigeria products will be naturally more expensive than before”

CAC now requires that all POS operators and fintech merchants in Nigeria register their businesses according to Central Bank of Nigeria, CBN, guidelines by July 7, 2024

“Lower crude oil earnings, fuel subsidy removal, rising import bills, and increased external debt servicing obligations could pose downside risks for the accretion to external reserves”

The Central Bank of Nigeria (CBN) has directed all Payment Service Providers (PSPs) to connect to Payment Terminal Service Aggregators, in its quest to track all electronic transactions.

The Central Bank of Nigeria, CBN, said economic activities recorded its first  expansion in 13 consecutive months to 50.2 index points in August 2024.

Lagos Commodities and Futures Exchange (LCFE) and top commodities brokers have  commended the Federal Government  and Central Bank of Nigeria (CBN),  for the recent directive, mandating companies to channel the importation of basic food items through commodities exchanges.

By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, said it would sell Treasury Bills, TBs, worth N2.2 trillion in the fourth quarter of 2024 (Q3’24). This represents a 41 percent quarter -on-quarter (QoQ) decline when compared with N1.56 trillion sold in Q3 ’24. CBN disclosed this today in its Nigeria Treasury Bills Issue programme […]

The Central Bank of Nigeria, CBN, today lifted the suspension on lending to banks through its Standing Lending Facility, SLF, adjusting the lending rate to 31.75 percent interest rate.