Tag: CBN
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Naira gains N3.42 against Dollar as IMF hails CBN fx reforms
The Naira on Wednesday gained N3.42 against the dollar, trading N1526.15 at the official market amid commendation by the International Monetary Fund (IMF).
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Fiscal Responsibility Act: HoR committees invite Finance Minister, CBN Gov over audit reports and noncompliance
The Joint House of Representatives Committee on Public Account and Public Assets have invited the Minister of Finance, Chief Adebayo Olawale Edun and Governor of Central Bank of Nigerian, Dr Olayemi Cardoso to appear before it over allegations of non-compliance with the provisions of Fiscal Responsibility Act 2007 as well as internal control weaknesses identified…
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CBN debunks BDC recapitalisation deadline shift
The Central Bank of Nigeria (CBN) has debunked a news story circulating that suggested it had extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to Dec. 31.
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Court dismisses £990trn suit filed against CBN
The Federal High Court in Abuja, on Wednesday, dismissed a 990 trillion pounds suit filed by a claimant, Mr Tunde Omosebi, against the Central Bank of Nigeria (CBN) for being incomprehensible.
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Another headache for Emefiele as EFCC files fresh charges over 753 Abuja housing units
The Economic and Financial Crimes Commission has filed fresh charges against the embattled former governor of the Central Bank of Nigeria, Mr Godwin Emefiele. The charges, filed before a High Court of the Federal Capital Territory in Abuja, allege that Emefiele unlawfully acquired a housing estate comprising 753 units, and allegedly stole and controlled billions…
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Naira strengthens steadily against Dollar
The Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market. Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday
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Nigeria spends $2 Billion on external debt servicing in four months
Between January and April 2025, Nigeria spent approximately $2.01 billion on external debt servicing marking a sharp 50% increase from the $1.33 billion spent during the same period in 2024. This information comes from newly released international payments data from the Central Bank of Nigeria (CBN), obtained by The PUNCH. The data reveals that debt…
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CBN pauses baseline interest rate
For the first time since February 2024, the Central Bank of Nigeria (CBN) has maintained the Monetary Policy Rate (MPR) at 27.5 per cent.
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Are Nigerian Banks at risk? CBN responds to viral allegations
The Central Bank of Nigeria (CBN) has moved to dispel concerns about the stability of the country’s banking sector following controversial claims circulating on social media.
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Naira strengthens further against Dollar
The Naira continued its upward trend on Wednesday, appreciating further at the official market and closing at N1,596.70 to the U.S. dollar. According to data released on the Central Bank of Nigeria’s official website, the local currency gained N3.33 against the dollar.