The Central Bank of Nigeria (CBN), Olayemi Cardoso, has assured Nigerians that the current inflation rate will drop to 21% this year. According to the National Bureau of Statistics (NBS), Nigeria’s inflation has been on the rise for 11 consecutive months, reaching a new high in December 2023.
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The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has narrated how the apex bank uncovered $ 2.4 billion fraud in Forex trading.
“It is an arbitrary order capable of undermining the operational independence of the NNPCL. By this order, Mr. President has wrested control of the finances of the NNPCL and donated the same to the Federal Ministry of Finance and the Central Bank of Nigeria. This is an unprecedented act, without any legal or ethical basis. It is also a violation of the principle of due process in public administration”
ASHENEWS reports that of the headquarters of 27 ₦igerian banks listed by StatiSence @StatiSence, only Jaiz and Tajbanks are located in Abuja.
According to him, even if the ₦aira recovers for three months, it could “still crash because the fundamental problem has not been fixed, which is improving production, to deepen the balance of trade and payment for Nigeria.”
The Central Bank of Nigeria (CBN) has denied claims that it plans to convert domiciliary account holdings valued at 30 billion dollars into Naira.
Weeks after it was raised from ₦783 per dollar to ₦952 per dollar, the Central Bank of Nigeria (CBN) has again raised the exchange rate for cargo clearance from ₦952/$ to N1.356 per dollar.
The equity market on Thursday rebounded by 1.63 per cent from its two-day losses due to improved investors’ buy interest in the stocks of Tier-one banks and BUA Cement.
Nigerian Bureau De Change (BDC) operators have announced that they would shut down their operations in the capital city of Abuja.
The Central Bank of Nigeria (CBN) says it has concluded the payment of all verified claims by airlines with an additional $64.44 million.