Credit to Government Soars to N42tn, Outpaces Private Sector Growth – CBN
Data from the Central Bank of Nigeria (CBN) reveals that loans to the government have surged dramatically, outpacing credit to ...
Tag: CBN
CBN to Penalize Banks Over Cash Shortages from December
The Central Bank of Nigeria (CBN) has announced plans to penalize commercial banks that fail to provide cash to customers ...
CBN Increases Interest Rate to 27.5% to Combat Inflation
The Central Bank of Nigeria (CBN) has raised the country’s Monetary Policy Rate (MPR) by 25 basis points, bringing it ...
CBN’s Monetary Policy Committee Poised for Possible Rate Hike Amid Rising Inflation
The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) is expected to uphold its inflation-fighting agenda during its final ...
CBN Warns Against Use of Fake SWIFT Messages in Remittance Claims
The Central Bank of Nigeria (CBN) has issued a stern warning to the public regarding the use of fraudulent Society ...
CBN Survey Reveals Decline in Business Confidence as Naira Depreciation Looms
Businesses across Nigeria are showing reduced confidence in the country's economic outlook, according to the latest Business Expectations Survey (BES) ...
High Interest Rates Boost Foreign Portfolio Investment in Nigeria by 170%
Nigeria has seen a significant surge in Foreign Portfolio Investment (FPI) inflows in the first nine months of 2024, driven ...
Nigeria’s Fiscal Deficit Exceeds Projections, Reaches 7.6% of GDP
Nigeria’s fiscal deficit has soared to 7.6% of GDP as of August 2024, far surpassing the initially approved target of ...
Naira Falls as FX Turnover Declines by 71% Amidst Market Pressure
The Nigerian naira weakened further on Monday, sliding to ₦1,670.75 per dollar in the official market and ₦1,748 per dollar ...
Nigeria’s Capital Spending Drops by 25% in H1 2024, Says CBN
Nigeria's capital expenditure dropped by 25.3% in the first half of 2024, amounting to N1.99 trillion, down from N2.68 trillion ...
