In a bid to address the increased demand for dollars, which led to N2 depreciation of the naira in the parallel market last week, the Central Bank of Nigeria, CBN, yesterday, increased dollar sales to bureaux de change, BDCs, by 50 per cent, saying it was compulsory that each BDCs purchased $60,000 per week.

DESPITE the last minute directive  by the Central Bank of Nigeria, CBN, that restricted banks’ dividend pay-outs, leading banks which are quoted on the Nigerian Stock Exchange, have ended their 2018 annual general meetings (AGMs) for the 2017 financial year doling out a total dividend of N225.012 billion, indicating a 25.6 percent increase over N179.165 billion paid last year on 2016 financial results. Moreover, their directors collected N30.217 billion representing 38.8 percent up-shoot in their dividend income as against N21.771 billion last year.

Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele yesterday said that the framework for the $2.5 billion currency swap agreement with the Peoples Bank of China (PBoC) will be released next week, stressing that the deal will ease pressure in the foreign exchange market.

ASSOCIATION of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to review the exchange rate band at which Bureaux de Change (BDCs) buy dollars to align with commercial banks’ buying rate.

The Central Bank of Nigeria (CBN) has approved the release of second tranche of N1 billion from the Micro Small and Medium Enterprises Development Fund (MSMEDF) for disbursement to Small and Medium Enterprises (SMEs) in Niger State.

The Central Bank of Nigeria, CBN, Thursday set up a committee for the revival of the country’s cotton, textile and garment industry, with the mandate to revive and set up a minimum of 50 textile firms by 2023.

The Central Bank of Nigeria (CBN)  has once again called on Nigerians to handle the Naira with care,  as it was a symbol of the nation’s identity and pride.

INFLATION  is  dangerous and cancerous, and it is something every central bank and responsible government should worry about and strive to manage and keep within reasonable and acceptable limits for the benefit of the economy and standard of living of the people. Inflation hurts our buying power and makes it difficult for people to afford basic necessities of life. It raises the effective tax people pay on income they earn, which in turn discourages savings and investment, even as it  also affects our retirement.

THE aggressive liquidity mop up operations conducted by the Central Bank of Nigeria (CBN) last week is expected to persist this week as inflow of N330 billion boost interbank money market liquidity.

ALMOST one year after the Central Bank of Nigeria, CBN, began a drive towards lower interest rates, about eighteen banks have declined to toe the apex bank’s policy line.