Tag: Naira Crisis

CBN Reacts To Controversial Policy Document
September 21, 2024 No Responses

CBN Reacts To Controversial Policy Document

The Central Bank of Nigeria, CBN, on Friday, made some clarifications regarding the Monetary, Credit, Foreign Trade, And Exchange Policy Guidelines For Fiscal Years 2024 – 2025 document published on Tuesday, September 17, 2024. In a statement published on its...
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Again, CBN Raises Interest Rate
July 24, 2024 No Responses

Again, CBN Raises Interest Rate

The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75%. CBN Governor, Olayemi Cardoso, announced this after the apex bank’s 296th Monetary Policy Committee...
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CBN Sells $122.67m To 46 Dealers
July 13, 2024 No Responses

CBN Sells $122.67m To 46 Dealers

As part of measures to promote stability and reduce market volatility in the foreign exchange market, the Central Bank of Nigeria (CBN) has sold $122.67m to 46 authorised dealers A statement signed by the Bank’s Director in charge of Financial...
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CBN To Sanction Banks, BDCs Over Rejection Of Lower Dollar Bills
July 3, 2024 No Responses

CBN To Sanction Banks, BDCs Over Rejection Of Lower Dollar Bills

The Central Bank of Nigeria (CBN) has issued a warning to Deposit Money Banks (DMBs) and authorised forex dealers, advising them against rejecting old and lower dollar denominations from customers in the country. According to the apex bank, the directive...
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Nigeria’s Inflation Rises To 33.95 Per Cent 
June 16, 2024 No Responses

Nigeria’s Inflation Rises To 33.95 Per Cent 

Nigeria’s inflation rate increased to 33.95 per cent in May 2024, the National Bureau of Statistics (NBS) disclosed in its latest data. According to the NBS Consumer Price Index report released on Saturday, this represents an increase of 0.26% points...
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CBN Raises Interest Rate To 26.25 %
May 22, 2024 No Responses

CBN Raises Interest Rate To 26.25 %

The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points from 24.75 per cent to 26. 25 per cent. Following a two-day meeting, the bank’s Monetary Policy Committee (MPC) agreed to increase the Monetary Policy...
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CBN Gov Pledges To Tackle Unauthorised Withdrawals
February 7, 2024 No Responses

CBN Gov Pledges To Tackle Unauthorised Withdrawals

The Central Bank of Nigeria (CBN) has pledged to deal decisively with any bank found sabotaging monetary policies or guilty of unauthorised withdrawals from customer accounts. The Governor of the apex bank, Mr Olayemi Cardoso made the pledge on Tuesday...
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NGX All-Share Index Crosses 80,000 Benchmark
January 9, 2024 No Responses

NGX All-Share Index Crosses 80,000 Benchmark

The Nigerian Exchange Ltd (NGX) All-Share Index on Monday crossed significant 80,000 basis points to settle at 80,324.53 benchmark by earning 0.83 per cent or 660 points, as against 79,664.66 recorded on Friday. Consequently, the equity market capitalisation c...
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CIBN, NGX Forge Partnership To Boost Nigerian Financial Market
November 22, 2023 No Responses

CIBN, NGX Forge Partnership To Boost Nigerian Financial Market

The Chartered Institute of Bankers of Nigeria (CIBN) said it would deepen its existing partnership with the Nigerian Exchange Limited (NGX) to further enhance the growth and development of the Nigerian financial market. The President/Chairman, Council of CIBN...
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Naira Crisis: Queues Gradually Disappear As Bank ATMs Dispense Cash
March 26, 2023 No Responses

Naira Crisis: Queues Gradually Disappear As Bank ATMs Dispense Cash

Long queues at commercial banks in Lagos have suddenly disappeared following the injection of more banknotes by the Central Bank of Nigeria (CBN) into commercial banks, the News Agency of Nigeria (NAN) reports. The apex bank had on Thursday confirmed...
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