The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items and also promised to intervene in the FX market from “time to time”.
The apex bank had in 2015 restricted the items from accessing FX from the I&E window,…
The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth forecast for the year 2023 to 2.9%.
This is against its forecast for 2022 which stood at 3.3 %.
The latest forecasts were contained in the IMF’s World Economic Outlook report, October 2023 released…
A former Deputy Governor, Central Bank of Nigeria, Dr Tunde Lemo, has advised against the free floating of the naira.
He said this while speaking during an online discourse at the Boiling Point Arena on Sunday, with the theme, ‘Persistent unstable macro-economic environment:…
In a bid to shield its customers from cyber theft, Ecobank has warned about the grave risk associated with SIM swap fraud.
In a recent email communication to customers, the bank explained the insidious nature of SIM swap fraud, where criminals exploit phone…
A new report has raised concerns about Nigeria’s central bank digital currency, eNaira, indicating potential risks to financial stability despite its success in narrowing the country’s financial inclusion gap.
Launched nearly two years ago under the stewardship of former Central Bank of Nigeria…
Following recoveries from debtors and the acquisition of assets of banks in liquidation, the Nigeria Deposit Insurance Corporation (NDIC) has announced the declaration of N16.18 billion liquidation dividends to depositors, creditors, and shareholders of 20 banks in liquidation.
In a statement issued yesterday…
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has promised that his administration would inculcate a culture of compliance into the apex bank by adhering strictly to the CBN Act 2007.
“I believe that the Central Bank under our watch will…
The World Bank has approved a fresh $700m loan for Nigeria to enhance adolescent girls’ learning and empowerment.
It disclosed this in a statement published on its website on Friday.
The new loan is to provide additional funds for an ongoing project known as…
The Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor, three months after being suspended from office by President Bola Tinubu.
Emefiele was thereafter quizzed by officials of the Department of State Service (DSS) who later…
The Central Bank of Nigeria (CBN) has postponed the 293rd Monetary Policy Committee (MPC) meeting scheduled for Monday and Tuesday, September 25 and 26, 2023.
This was disclosed in a Thursday press statement by the bank’s Director of Corporate Communications, Dr Isa AbdulMumin.…
