Three Kwara naira Racketeers Jailed, Forfeit N1.3m
Three people were found guilty and given varying prison sentences by the Federal High Court in Ilorin, Kwara State, on Tuesday for engaging in naira racketeering by selling the currency…
Foreign Exchange Market Records Decline in Dollar Sales by Deposit Money Banks
On Friday, the Nigeria Autonomous Foreign Exchange Market saw a $252 million decline in dollar sales by Deposit Money Banks and other entities, to $84.1 million.
CBN Raises the Price Verification System’s cap from 2.5% to 15% Due to Inflation
The Price Verification System (PVS) will now be reviewed upward, from 2.5 percent to 15 percent, according to the Central Bank of Nigeria (CBN).
Inflation, Naira Depreciation, and Insecurity Demand Urgent Solutions, Says NGF
In order to address food inflation, the depreciation of the naira, and the growing insecurity in various regions of the nation, the Nigeria Governors’ Forum (NGF) has called for an…
REDAN Requests Tinubu’s Intervention Regarding the Cement Price Increase
President Bola Tinubu has been urged by the Real Estate Developers Association of Nigeria (REDAN), Abuja, to call an urgent meeting with cement manufacturers in order to address the recent…
Foreign Capitalists Considering Investing in Nigeria – Cardoso
Foreign portfolio investors desire policy changes from the nation in order to facilitate the inflow of their capital, according to Olayemi Cardoso, the governor of the Central Bank of Nigeria.
FG Reports Increase in Loans by Naira Fall and Debts Close to N107 trillion
With the approval of new borrowings for the Federal Government and new securitization of the Central Bank of Nigeria’s N7.3tn Ways and Means advances, Nigeria’s total debt (federal government and…
Bureau De Change to Seize Operations Following Dollar Scarcity
Following the unavailability of dollars, the Bureau De Change operators have announced closure of activities in Abuja as a result of unavailability of dollars.
1500 Redeployed From CBN to Lagos Office
A record of 1,500 members of staff of the Central Bank of Nigeria have been redeployed from the headquarters on Friday and are expected to resume at its Lagos office.
CBN Lifts Ban on Transaction in Cryptocurrencies
The Central Bank of Nigeria, CBN has lifted ban placed on transaction in cryptocurrencies, explaining that banks and other financial institutions can provide services to cryptocurrency exchanges and dealers also…