CBN introduces N670bn as Stimulus Package for Households, Businesses

The Central Bank of Nigeria (CBN) has put N670 billion, out of the N3.5 trillion stimulus package into various sectors in the economy as part of efforts to cushion the impact of the COVID-19 at This was disclosed by CBN Director, Development Finance Department, Mr. Yila Yusuf, during an interview on ArisExchange, a programme monitored on […]

Court orders return of $200m guarantee to Nigeria

By Nduka Chiejina (Assistant Editor) The London Commercial court has ordered release of the $200million guarantee Nigeria placed as security for the stay of execution of Messrs. Process and Industrial Development Limited (P&ID’s) claims. A statement from the Central Bank of Nigeria (CBN) said the release of the $200 million security deposit has swollen the […]

COVID-19: CBN introduces healthcare intervention scheme

The Central Bank of Nigeria (CBN), as part of its policy response to the COVID-19 pandemic, introduces the Healthcare Care Sector Research and Development  Intervention Scheme (HSRDIS). The information is contained in the apex bank’s official website, The bank stated that the intervention was to help strengthen public healthcare systems with innovative financing of research and […]

Increased Investors Appetite at Bond Auction

Tuesday, September 29, 2020 / 1:40 PM / by Anchoria AM Research / Header Image Credit: InvestAdvocate   Money Market The average money market rate fell marginally by 1.09% to settle at 1.42% from 2.50% in the previous week. The Open Buy Back (OBB) rate closed at 1.00% from 2.00% while Overnight rate (OVN) closed at 1.83% compared to […]

Nigeria’s financial exclusion stands at 36% for women and 24% for men

NairaWatch recalls that the exchange rate on Monday, September 28, also closed at ₦467/US$1 in the parallel market. Naira: ₦467; Dollar: $1; Date: …

Sterling Bank gets CBN approval for restructuring

Sterling Bank gets CBN approval for restructuring. Published by Nairametrics on Tue, 29 Sep 2020. Sterling Bank has obtained the CBN’s approval in …

CBN to Fund 78% of Transit Plan

Economic Sustainability: CBN to Fund 78% of Transit Plan The Central Bank of Nigeria will fund 78% of the N2.3 trillion Economic Sustainability Plan of the Federal Government amidst virus-induced pressure. The Nigeria Economic Sustainability Plan (NESP), approved by the Federal Executive Council (FEC) on June 24, 2020, was developed by the Economic Sustainability Committee […]

CBN: Hedging against recession, COVID-19 with interventions

The Central Bank of Nigeria (CBN) is devising strategies through its various intervention programmes to rein the COVID-19 pandemics impact on the economy and the threat of an impending recession, reports Group Business Editor, SIMEON EBULUIn the last five to six years, a combination of a motley of developments in Nigerias political and economic space, […]

CBN, BDCs and exchange rate stability

Adopting Uniform Exchange Rate for Naira 14.01.2017 … BDCs seek $15,000 weekly sale from 08.03.2017.

Buhari and debt-free sustainable growth – Part 2

Emphatically, the three fiscal and monetary laws do not grant CBN the power to unilaterally devalue the naira or operate multiple naira exchange rates …

ICPC uncovers massive corruption in FG’s MDAs

The Independent Corrupt Practices and other related offences Commission (ICPC), yesterday, said that it had uncovered a massive fraud in the Federal Ministry of Agriculture and Rural Development and recovered assets worth billions of naira in the process.   Chairman of ICPC, Prof. Bolaji Owasanoye, who made the disclosure at the 2nd (virtual) national summit […]

Monetary-fiscal policies synergy as hedge against economic recession – The Sun Nigeria

Amaechi Ogbonna Economic variables are hardly static but are a moving target, swinging up and down a nation’s economic ladder depending on where the pressures are coming from. That explains why a fortnight ago when the National Bureau of Statistics (NBS) latest economic indicators triggered the alarm that Nigeria’s spiraling inflation was heading to unpleasant […]

Cbn atm charges

Nairaland Forum Nairaland General Business CBN nbsp 22 Dec 2019 The Central Bank of Nigeria CBN has reduced the withdrawal charge for …

Second wave of Covid-19 forces down oil prices as CBN pumps $100m to stabilise naira |

Crude oil prices fell 4.4 per cent to $41.74 per barrel last week as a result of a second wave of COVID-19 cases in Europe. Central Bank of Nigeria (CBN)’s insistence of stabilizing the naira, coupled with reduced dollar earnings from crude oil saw foreign reserves beating a retreat by 0.1 per cent to $35.8 […]