The Central Bank of Nigeria (CBN) has issued a directive ordering Deposit Money Banks (DMBs) to divest their surplus dollar holdings by February 1, 2024. This...
The Central Bank of Nigeria (CBN) has completed the payment of all verified foreign exchange (FX) claims owed to airlines. The latest disbursement, totaling $64.44 million,...
Amidst a wave of controversy and mixed sentiments, the Central Bank of Nigeria (CBN) is forging ahead with its plan to redeploy approximately 1,500 staff members...
The Central Bank of Nigeria (CBN) has announced the injection of US$500 million into the market. This move comes hot on the heels of the recent...
Former Emir of Kano, Sanusi Lamido Sanusi, has voiced his support for the Central Bank of Nigeria’s (CBN) decision to relocate select departments from Abuja to...
Central Bank of Nigeria Governor Olayemi Cardoso said inflation will moderate this year and described the country’s naira currency as “undervalued,” in his first public comments...
Nigeria has approved the public disclosure of forex rates by the Association of Bureaux de Change Operators of Nigeria. The initiative aims to minimize the divergence...
Nigeria’s central bank is expected to raise interest rates by as much as 500 basis points next month and provide clarity on foreign-exchange management that’s blamed...
Fitch, one of the leading global credit rating agencies, has said that the Central Bank of Nigeria (CBN) still lacks sufficient foreign exchange (forex) to clear...
Nigeria’s central bank said it had cleared the foreign-exchange backlogs of 14 banks and begun settlements with international airlines. In a statement Wednesday it said that...