Data sourced from the Central Bank of Nigeria (CBN) suggest the economy may be relapsing to cash hoarding again a year after the chronic currency scarcity even as the proportion of currency in circulation that is held outside the banking system has returned to the pre-naira redesign level.

Former Central Bank of Nigeria's governor Godwin Emefiele approved the printing of N684.5 million naira with N18.9 billion, the Economic and Financial Crime Commission (EFCC) has said. EFCC made the claim in a new four-count charge filed against Emefiele at the High Court of the Federal Capital Territory. The anti-graft agency's prosecutor Rotimi Oyedepo (SAN)…

The Economic and Financial Crimes Commission (EFCC) has frozen over 300 accounts over suspicious forex flows. The EFCC chairman, Ola Olukoyede, who stated this on Tuesday said the agency discovered a new financial scheme that poses a significant threat to the stability of the foreign exchange market. According to Olukoyede, the scheme, known as the…

The Central Bank of Nigeria (CBN) has informed Bureau De Change (BDC) operators about direct sales of US dollars at a discounted rate of N1,021 per dollar. The directive was contained in a circular issued by the apex bank on Tuesday, 23 April 2024. This is the second sale this month and the fourth in…

The Central Bank of Nigeria (CBN), has adjusted the Customs exchange rate for clearance of cargoes at the nation’s seaports and airports from N1,238/$1 to N1,150/$1.

The tasks of the Nigerian delegation to the just-concluded International Monetary Fund (IMF) and the World Bank Spring Meetings in Washington, United States, were well defined – sell Nigeria, seal economic pacts and market packages

The Lagos Chamber of Commerce and Industry (LCCI) is deeply worried about the various economic headwinds confronting the stability of the Nigerian economy.

The Central Bank of Nigeria (CBN) has reduced the Loan-to-Deposit Ratio (LDR) of deposit money banks from 65 per cent to 50 per cent.

Nigeria’s foreign reserves shed $1.8 billion in the last month, moving downward from $34.45 billion to $32.61 billion.  Data obtained from the Central Bank of Nigeria (CBN) did not state the factors responsible for the slide, which is the lowest in six years.

There seems to be no respite for Nigerians on food prices despite the rise in naira value as the March inflation figure rose to 33.20 per cent.

United Bank for Africa (UBA) Plc has outlined its strategies aimed at navigating the dynamic and ever-evolving banking landscape, while also consolidating growth prospects for the 2024 financial year.

Despite the appreciation in the value of the naira against the dollar lately, the N16,099,490,084,691 provision for debt financing as well as debt servicing and sinking fund required to service Nigeria’s debt in 2024 may rise by 48.38 per cent.