MPC meeting: CBN hikes interest rate to 24.75 %, retains CRR at 45%
Rising from its meeting, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has jacked up the benchmark interest rate by 200 basis points to 24.75 percent…
Kaduna Court Jails Three Fraudsters for Currency Racketeering
March 26, 2024 Justices J. Aikawa and Hawa’u Buhari of the Federal High Court sitting in Kaduna, have convicted and sentenced three currency racketeers to different jail terms. The convicts…
Again, naira appreciates against dollar, here’s Tuesday’s black market rate
The naira has continued to appreciate against the dollar in both the official and black markets just moments before the MPC meeting which starts today. Political Economist NG reports that…
CBN, Cryptocurrency and terror financing, by Ken Ugbechie
Central Bank of Nigeria, CBN, at the twilight of 2023 lifted a ban on cryptocurrency third party transactions. Early this year, it followed it up with fresh guidelines to banks…
Cardoso magic: Naira keeps a steady rebound against the dollar
The Naira has continued its bullish run against the dollar in both the official and black market in what experts attributed to the improved and innovative forex policy of the…
Nigeria’s external reserves significantly increases to $34.11 bn highest in 8 months – CBN
March 21, 2024 The Central Bank of Nigeria (CBN) has reported a significant increase in external reserves, rising by 993 million dollars to 34.11 billion dollars as of March 7,…
CBN clears $1.5bn outstanding fx transactions, eliminates legacy backlog
March 21, 2024 The Central Bank of Nigeria (CBN) says all valid foreign exchange backlogs have now been settled. This is according to a statement by CBN’s Acting Director, Corporate…
Woman Bags Jail Terms for Money Racketeering in Lagos
March 17, 2024 The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC on Friday secured the conviction and sentencing of one Bose Lateef before Justice Deinde Dipeolu…
Budget: First time in over 20 years, Capital Expenditure exceeds Recurrent
We have observed that for the first time in over two decades, capital expenditure funds are higher than allocations to recurrent. By the nation’s annual budget precedence, this is remarkable…
How Emefiele Allegedly Awarded Multi-Billion Naira Contracts to Family & Associates-Witness tells court
March 11, 2024 A Seventh Prosecution Witness, PW7, in the trial of a former governor of Central Bank of Nigeria, CBN, Godwin Emefiele on Monday, told Justice Hamza Muazu of…