Nigeria’s Foreign Exchange Struggles Lead to Extended Timelines for Letters of Credit
Nigeria is grappling with a significant decline in foreign exchange reserves, leading to extended timelines for issuing letters of credit ...
Tag: CBN
CBN Raises N638.98 Billion in Treasury Bill Auction as Yields Surge to 26%
The Central Bank of Nigeria (CBN) successfully raised N638.98 billion through its latest treasury bill auction held on May 22, ...
Forex Supply Soars 66% as CBN Hikes Interest Rates
Nigeria has recorded a significant 66% increase in foreign exchange (FX) supply, reaching $15.2 billion through the official market window, ...
Foreign Portfolio Outflows Surge by 237% in Q1 2024 Amid CBN Reforms
Foreign portfolio investment (FPI) outflows from Nigeria have surged dramatically by 237% in the first quarter of 2024 compared to ...
Breaking: CBN Increases MPR to 26.25% Following MPC Meeting
The Central Bank of Nigeria (CBN) has announced a significant adjustment to its monetary policy following the 295th meeting of ...
CBN and SEC Impose Fines on Banks Totaling N678 Million
Nine financial institutions in Nigeria paid fines totaling N678 million in 2023 for regulatory violations, a significant decrease from the ...
Naira Appreciates Against Dollar, Hits N1,470/$1 in Parallel Market
In a surprising turn of events, the naira appreciated significantly against the dollar in the parallel market on Friday, May ...
CBN to Shift N5.5 Trillion Development Finance Activities to Private Banks and DFIs
The Central Bank of Nigeria (CBN) has announced plans for a significant restructuring in its operations, aiming to transfer approximately ...
Naira Hits Seven-Week Low, Trading at N1480/$1 in the Black Market
The Nigerian naira experienced a decline over the weekend, reaching a seven-week low against the US dollar. The official exchange ...
PoS Operators to Hike Charges Amid CBN, CAC Registration Mandate
Point-of-Sale (PoS) operators have expressed concerns over recent directives from the Corporate Affairs Commission (CAC) and the Central Bank of ...
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