CBN warns public against fraudulent contractors
The Central Bank of Nigeria (CBN) has warned members of the public against fraudsters going about with claims of contract awards by the bank, with the sole aim of defrauding innocent members of the public.
CBN directs PSPs to connect to PTS Aggregators
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.
Economic activities record first expansion in 13 months
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.
LCFE, Commodities brokers laud FG, CBN on food importation directive
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.
CBN to sell N2.2trn Treasury Bills in Q4’24
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 […]
CBN lifts ban on lending to banks, pegs interest rate at 31.75%
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.
FG’s deficit rises 0.1% to N824.79 bn
The report also showed that the deficit was 7.92 percent higher than the budgeted N764.19 billion for the period.
Businesses expect improvements in economy- CBN Survey
By Babajide Komolafe The Central Bank of Nigeria, CBN, has said that business enterprises are optimistic there would be improvement in the economy in the next six months. The CBN stated this in its Business Expectation Survey, BES, report for July. The report however showed that businesses expect the Naira to depreciate in the third […]
Alleged 5.4bn shares: CBN, FBN Holdings ask court to dismiss Barbican Capital’s suit
The Central Bank of Nigeria, CBN, and FBN Holdings Plc have asked a Federal High Court sitting in Lagos to dismiss a suit filed by an investment firm, Barbican Capital Ltd, over alleged alteration of its alleged 5,386,397,202 units of shares in the bank.
Manufacturers tasks CBN on unsettled forex forward
The CBN traditionally issues these contracts, promising to deliver foreign currency at a specified future date in exchange for upfront naira payment.
CBN’s unsettled $2.4bn forward contract obligations threaten manufacturers’ survival – MAN
The Manufacturers Association of Nigeria (MAN) has warned that the continued non-redemption of $2.4 billion forward contracts by the Central Bank of Nigeria (CBN) poses a grave threat to the survival of some Nigerian manufacturing companies.
