The Central Bank of Nigeria (CBN) has approved daily sales of 10,000 dollars to 1,588 eligible Bureau De Change operators at the rate of N1,101 to the dollar. The Director, Trade and Exchange Department of the CBN, W.J Kanya said this in a letter addressed to the President,...
Yemi Cardoso
CBN’s aggressive monetary policy tightening will boost foreign investment, strengthen Naira – Expert
CBN’s aggressive monetary policy tightening will boost foreign investment, strengthen Naira – Expert
A renowned Economist, Prof. Ken Ife, says aggressive monetary policy tightening adopted by the Central Bank of Nigeria (CBN) will attract foreign portfolio investments to the country. Ife, who is the Lead Consultant on Private Sector Development to ECOWAS Commission, said this in an interview with the News...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says recent stability achieved in the foreign exchange (forex) market is commendable. Cardoso said this on Tuesday in Abuja, while presenting the communique from the 294th meeting of the apex bank’s Monetary Policy Committee (MPC). According to...
The Central Bank of Nigeria (CBN) on Tuesday announced further tightening of the monetary policy by raising the Monetary Policy Rate (MPR) by 200 basis points, to 24.75 per cent from 22.75 per. CBN Governor, Yemi Cardoso, made this known while presenting the communique from the 294th...
The Naira experienced a slight appreciation at the official market, trading at N1,431.49 to a dollar on Friday. Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N21.79 or 1.5 per cent, compared to the previous day’s rate of N1,453.28 against...
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of s$7 billion have now been settled, fulfilling a key pledge of its Governor, Mr. Olayemi Cardosoo. In a statement on Wednesday, the apex bank’s Acting Director, Corporate Communications, Mrs Hakama Sidi Ali, in...
The Central Bank of Nigeria (CBN) has donated over 2 million bags of fertilisers worth N100 billion to farmers through the Federal Ministry of Agriculture and Food Security. The Governor of the CBN, Mr Yemi Cardoso, presented the bags of fertilisers to the Minister of Agriculture and Food...
The Ministry of Agriculture and Food Security has received 2.15 million bags of assorted fertilisers from the Central Bank of Nigeria (CBN). The News Agency of Nigeria (NAN) reports that the assorted fertilisers would be distributed to farmers to curb food inflation in the country as well as...
The Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflow into the economy in February. Acting Director, Corporate Communications Department of the CBN, Mrs Hakama Sidi, said this in a statement on Friday in Abuja. Sidi said that the upsurge in forex...
Lagos State Governor, Babajide Sanwo-Olu has promised to immortalise the late founder of Access Bank, Dr Herbert Wigwe, who was born at the Island Maternity Hospital in the state. Sanwo-Olu made the pledge on Monday night at an event to celebrate the late Group Chief Executive, Access Corporation,...
The Central Bank of Nigeria (CBN) has successfully concluded the sale of government securities following the issuance of N1.053 trillion (680 million dollars) in short-term instruments. A statement issued on Sunday night by CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi, stated that the sale is part...
The House of Representatives Public Account Committee (PAC) has summoned the Central Bank of Nigeria (CBN) Governor, Mr Olayemi Cardoso to appear before it on or before Tuesday, March 5, or face arrest warrant. Rep. Bamidele Salam, the chairman of the committee said this in Abuja on Tuesday...
The Central Bank of Nigeria (CBN) has said the on-going reforms will check rising inflationary trend and address distortions in the foreign exchange market The CBN Governor, Yemi Cardoso said this on Tuesday in Abuja, while presenting the communique from the apex bank’s Monetary Policy Committee (MPC) meeting....
The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) has raised the Monetary Policy Rate(MPR) by four hundred basis points to 22.75 percent from 18.75 percent. Governor of the CBN Yemi Cardoso announced this after the first MPC meeting for the year in Abuja on Tuesday. “All...
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso says the Naira is grossly undervalued. Cardoso said this on Tuesday in Abuja, while presenting a communiqué from the 293rd meeting of the apex bank’s Monetary Policy Committee (MPC). He said that the foreign...
The Central Bank of Nigeria (CBN), has scheduled its first Monetary Policy Committee (MPC) meeting with Yemi Cardoso as Governor for Monday and Tuesday. Some economic experts have projected that the benchmark interest rate known as the Monetary Policy Rate (MPR) would most likely be tightened...
Partner, Bloomfield Law Practice, Dr Ayodele Oni, has said the plan to domicile crude oil sales account with Central Bank of Nigeria (CBN) will help in promoting accountability and transparency. Oni made the observation in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos....
The Central Bank of Nigeria (CBN), has assured of stability in naira/ dollar exchange rate. The CBN Governor Mr Olayemi Cardoso, said this at an interface with the Senate Joint Committee on Banking and Insurance in Abuja on Friday. “In terms of volatility of the exchange rate, we...
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria’s inflationary pressure will drop from 28.92 per cent to 21.4 per cent in 2024. Cardoso said this in Abuja on Tuesday when he addressed the House of Representatives. According to him, the projected decline...