Nigeria’s Foreign Reserve Forecasted to Decline to $24 Billion by IMF
In a concerning forecast by the International Monetary Fund (IMF), Nigeria’s foreign reserves are expected to undergo a significant reduction, ...
Tag: Central Bank of Nigeria
CBN Directs Banks to Notify Customers Before Debt Recovery Moves
In a bid to enhance transparency and fairness in the debt recovery process, the Central Bank of Nigeria (CBN) has ...
No Plan to Convert Domiciliary Account Dollars to Naira Vows CBN
Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), attributed the depreciation of the naira to the increasing ...
Naira Weakens at Official Market as Banks Sell $584 Million
The official Nigeria Autonomous Foreign Exchange Market witnessed a surge in foreign exchange transactions, reaching a staggering $584 million, as ...
Naira Maintains Gains on CBN’s FX Policies as Naira stands at N1419/$
The Nigerian foreign exchange (FX) market remained stable on Monday, with the naira sustaining gains attributed to recent policy interventions ...
Federal Government Raises Exchange Rate for Cargo Clearance to N1,356/$
The Federal Government, through the Central Bank of Nigeria (CBN), has increased the exchange rate for cargo clearance from N952/$ ...
CBN Directs Banks to Sell Excess Dollar Holdings Within 24 Hours
The Central Bank of Nigeria (CBN) has issued a directive ordering Deposit Money Banks to sell their surplus dollar holdings ...
Naira’s Value Declines in P2P and Black Markets Despite FX Liquidity Boost
Despite efforts by Nigeria's central bank to inject liquidity into the official market and clear significant foreign exchange backlogs, the ...
Access Bank Urges Customer to CBN Loans
Access Bank has issued a call to its customers, urging them to promptly settle any outstanding debts acquired under the ...
Sanctions Loom for 3 Million Bank Accounts Without BVN or NIN
Millions of bank accounts in Nigeria are at risk of being blocked as the Central Bank of Nigeria (CBN) deadline ...
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