Wanted: A cashless economy or naira redenomination

On that day, I was tempted to commit my first murder at one of the banks. On the counter, I was next to a young boy – a boy no more than 17 years old – who went to withdraw N17million cash. He was politely invited to the back of the counter, but that did […]


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MPC to hold rates, consolidate forex gains

The Monetary Policy Committee (MPC) is expected to hold all rates constant, tackle inflation while consolidating on recent gains in the foreign exchange market as they meet tomorrow and next to review recent happenings in the global and domestic space. The Central Bank of Nigeria (CBN) – led MPC members are likely to face a […]

CBN To Keep Reviewing Policies For Better Economy – Emefiele

From left: CBN Governor, Godwin Emefiele; Minister of Finance, Kemi Adeosun; Minister of State for Budget andNational Planing, Hajiya Zainab Ahmed.  Photo: Sumaila Ibrahim/ICE/NAN/file By Victor Ernest with agency report Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the apex bank would continue to review its policies to ensure the best is […]

CBN can sustain forex intervention, says Adedipe | NigerianTell

Daily Times (Today) .As total import figure hits N2.2tr in H1 2017 Despite the nation’s total import figure hitting a total sum of N2.2 trillion ($7.218 billion), with an average monthly figure of $2.406 billion as at the first half of 2017, Chief Consultant of Biodun Adedipe Associates Limited, ‘Biodun Adedipe has said the Central […]

Nigeria sells Treasury Bills above prevailing rates to attract foreign investments

In its bid to attract more foreign investments and meet its projected 30 per cent increase in dollar supply in the forex market, the Central Bank of Nigeria (CBN) on Friday offered three tranches of Treasury Bills, N145.96 billion naira of the 12-month bill, N26.60 billion of six-month paper and N32.40 billion of three-month paper. […]

Nigeria’s interbank lending rate up 20% as CBN sells debt and dollarsNaija247news

LAGOS, July 21 – Nigeria’s interbank lending rate rose to around 20 percent, from 5 percent on Thursday, after the central bank sold treasury bills to mop-up excess liquidity and announced plans to sell dollars to businesses. The interbank rate reflects the level of naira cash liquidity in the banking system. The central bank said […]

2017 Hajj: We won’t sell dollar at N200 to anybody – CBN replies Senate |

Share Tweet Share Share Email Central Bank of Nigeria, CBN on Friday told the Nigerian Senate that it​ has never sold and will not sell dollars to anyone at N200. Senate on Thursday urged the Federal Government to give N200 to dollar concession to the National Hajj Commission of […]

CBN blows past N3 trillion in treasury bills sales, YTD July 2017 alone |

Available data from the Central Bank of Nigeria shows the government via the CBN has sold about N3.1 trillion in treasury bills between January 2017 and July 2017. This is the highest we have seen at this time of the year since we started tracking this data in 2013.     Government borrowing has sky […]

Dollar to Naira black market rate today Friday, 21st July 2017

Dollar to Naira black market rate today Friday, 21st July 2017 Naira remains stable Dollar to Naira black market rate today Friday, 21st July 2017 is N362/N367.  The Exchange rate of dollar to naira has seen the NGN Naira have mixed fortunes against the USD Dollars during the course of the year. Earlier in the year 1 […]

ABCON boss urges CBN to mop up naira, cut interest rate

A financial expert, Alhaji Aminu Gwadabe, has urged the Central Bank of Nigeria to further mop up excess Naira in circulation to sustain its stability. The advice came ahead of the Monetary Policy Committee meeting of the bank scheduled for July 24 in Abuja. Gwadabe, who is President, Association of Bureau De Change Operators of […]

CBN sells treasuries above inflation to attract dollar inflows flows Business

CBN sells treasuries above inflation to attract dollar inflows flows By News Express on 21/07/2017 Share on Tweet Views: 171 •CBN Governor Godwin Emefiele. Nigeria’s central bank offered six-and 12-month treasuries at yields higher than the country’s inflation rate on Friday to lure yield-hungry investors and attract dollar inflows, traders said. Severe dollar shortages have […]

Naira sustains growth against Dollar, Pound as expert advises CBN on next line of actionTrue Viral News

– The Nigerian currency maintained its strengthened rate against the Dollar, Pound and Euro – However, financial expert, Alhaji Aminu Gwadabe has urged the CBN to further mop up excess Naira in circulation to sustain its growth The Naira on Friday, July 21, sustained its appreciated rate in the parallel market segment, as the local […]

Naira Appreciates Slightly Against the Dollar

The Naira appreciated by N1 against the dollar in the parallel market on Thursday as it exchanged for N366/$1, against the N367/$1 it exchanged for on Wednesday. Financial stakeholders have attributed the appreciation of the Naira to the $195 million intervention of the Central Bank of Nigeria (CBN) on Monday into the FOREX market. The […]