Nigerians Spent $609.5m On Foreign Education Between January And August
The Central Bank of Nigeria has said that $609.5 was spent on foreign education between January and August 2021,
Moghalu Rubbishes Bill Seeking Removal Of CBN Governor As Board Chairman
Kingsley Moghalu says the bill seeking to remove the central bank of Nigeria governor as the bank's board chairman is catastrophic.
MPR Hike To 15.5% Not Textbook Economy Step – CBN
The Central Bank of Nigeria has responded to critics of its recent hike in the Monetary Policy Rate to 15.5%, insisting the step is not a textbook or academic one.
Naira Depreciates Against Dollar Across FX Markets
The value of the naira plunged against the dollar across the various foreign exchange market segments over the start of political campaigns.
CBN Disburses N66bn To Manufacturing, Agricultural Sectors
The Central Bank of Nigeria says it has disbursed N66 billion to the manufacturing and agricultural sectors.
CBN Pegs Interest Rate At 15.5%
The Central Bank of Nigeria has increased the Monetary Policy Rate from 14% to 15.5% to curb inflation, OduNews reports.
CBN To Invoke GSI To Recover Anchor Borrowers Programme Loans From Defaulters
The Central Bank of Nigeria says it may use the Global Standing Instruction (GSI) against loan defaulters of the Anchor Borrowers Programme.
Naira Exchanges For Over N750/$ At P2P Market
The Nigerian currency fell further to N752 per dollar at the peer-to-peer market as the forex crisis hitting the country continues to bite hard, OduNews reports.
CBN Pumps $7.6bn Into Forex Market In Five Months
The Central Bank of Nigeria says it injected $7.6 billion into the economy through the forex markets in a bid to stabilise the naira.
Kippa Gets Super-Agent Banking License From CBN
Africave Technologies Limited DBA Kippa has gotten the Super-agent Banking License from the Central Bank of Nigeria.
Nigeria’s External Reserve Falls To $39bn
Nigeria's external reserve fell by 3.6% to $39.04 billion in August from $40.520 billion at the end of 2021.
Banks’ Borrowings From CBN In 3 Months Hit N4.4trn
Commercial banks have borrowed N4.4 trillion from the Central Bank of Nigeria within three months, OduNews reports.
Flutterwave Obtains CBN’s Switching And Processing License
Africa's payment technology firm Flutterwave has been granted the Switching and Processing License by the Central Bank of Nigeria.
Crude Oil Revenue Slides By 29% To N790bn
Nigeria's earnings from crude oil dropped by 29% to N790 billion in the first quarter of 2022, OduNews reports.
Banks’ Loans To Private Sector Rises To 39.87trn In July
Credit facilities to private sectors increased by N4.69 trillion to hit N39.87 trillion in July 2022, OduNews reports.
CBN Launches E-Naira USSD Code
The Central Bank of Nigeria has unveiled *997# as the Unstructured Supplementary Service Data (USSD) code for Nigeria's digital currency, e-Naira.
Eight Banks Rake In N234.97bn From Fees, Commissions In H1 2022
Eight Deposit Money Banks generated N234.97 billion from Electronic-banking commission, and credit-related fees, among other commissions in the first half (H1) of 2022.
Banks’ Loan To Power Sector Exceed N800bn
Loans disbursed by banks to players in the Nigerian power sector stood at N836.08 billion at the end of June 2022, OduNews reports.
Nigeria’s Forex Inflow Fall By 17.3% To $6.58b
Nigeria's average foreign exchange inflow went down by 17.3% to $6.58 billion in April 2022, OduNews reports.
N4bn Transactions Carried Out On E-Naira – CBN
The Central Bank of Nigeria says about N4 billion worth of transactions has been carried out using the digital currency, E-naira, since its launch in 2021.