Diaspora remittances fall 6.28% to $282.61 million in Q1 2024 amid CBN’s reforms
Nigeria recorded $282.61 million as total direct foreign exchange (FX) remittances in the first quarter (Q1) of 2024. This figure represents a decrease of $18.96…
Nigeria recorded $282.61 million as total direct foreign exchange (FX) remittances in the first quarter (Q1) of 2024. This figure represents a decrease of $18.96…
The Nigeria Labour Congress (NLC) has opposed the Central Bank of Nigeria (CBN)’s directive for all financial institutions to impose a 0.5% cybersecurity tax on…
The Central Bank of Nigeria (CBN) has provided more clarity on how international oil companies (IOCs) can use their foreign exchange proceeds. This update, as…
As Nigeria grapples with a staggering inflation rate of 33.2% in March, the recent directive from the Central Bank of Nigeria (CBN) regarding a cybersecurity…
Nigeria’s credit to the private sector has seen a sharp decline of approximately N9.65 trillion from February to March 2024. This decline underlines the Central…
The global credit ratings agency, Fitch, has estimated that approximately 30% of Nigeria’s external reserves are constituted by foreign exchange (FX) bank swaps. This disclosure…
Government Purchases and Rising Food Prices Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), pointed out that government purchases of palliatives are…
Nigeria’s foreign exchange (FX) reserves have witnessed a significant downturn, plunging by approximately $2.16 billion in 29 days, amidst the Central Bank of Nigeria’s (CBN)…
Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), has likely spent not less than N370 million on bail over the past nine…
The Central Bank of Nigeria (CBN) has banned the use of foreign currency-denominated collaterals for obtaining naira loans, except under specific conditions. This directive was…
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