Chairman and Chief Executive of the Dangote Group, Aliko Dangote, has criticised the latest increment of interest rate to almost…
NEC approves six Governors as board members for Niger Delta Power Holding Company
The National Economic Council (NEC) has confirmed the appointment of six state governors to the Board of the Niger Delta…
Nigeria’s GDP declines to 2.98% in Q1 2024 – NBS
Nigeria’s Gross Domestic Product (GDP) growth declined to 2.98%, lower than the rate recorded in the fourth quarter of 2023…
CBN hikes interest rate by 150 basis points to 26.25%
The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has increased the benchmark interest rate by 150 basis points…
CBN reduces banks’ LDR to 50%
The Central Bank of Nigeria has announced a review of the loan-to-deposit ratio (LDR) for banks, from 65 percent to…
Nigeria’s FX reserve dips by $1.02 billion in 18 days on CBN’s naira defence
Nigeria’s foreign exchange (FX) reserve has experienced a sharp decline of about $1.02 billion within 18 days, as the Central…
CBN sells dollars to BDCs at N1,251/$1
The Central Bank of Nigeria on Monday disclosed that it sold $10,000 to each Bureau De Change operators at a…
CBN raises interest rate by 400 basis points to 22.75% to tackle inflation
On Tuesday, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) increased the Monetary Policy Rate (MPR)…
CBN issues stricter guidelines for BDCs, other FX stakeholders
The Central Bank of Nigeria (CBN) has issued a draft of revised Regulatory and Supervisory Guidelines for all Bureau de…
CBN: Foreign oil firms prohibited from 100% repatriation of FX revenue
The Central Bank of Nigeria (CBN) has prohibited International Oil Companies (IOCs) from repatriating all their foreign exchange earnings to…