Despite cash in circulation at an all time high, Nigerians face pervasive cash scarcity, compelling the CBN to act by slapping fines on banks selling mints to currency hawkers.
CBN debunks claims of December 31st deadline for old banknotes, allaying fears over looming cash scarcity, economic disruptions.
Nigeria’s naira strengthens to N1,515 per dollar amid market reforms and improved forex inflows. Analysts predict stability around N1,500/$
Financial experts praise the Central Bank of Nigeria’s EFEMS initiative, aiming to boost transparency and efficiency in forex trading
CBN has unveiled new guidelines for interbank forex trading through the Electronic Foreign Exchange Matching System (EFEMS)
Nigeria’s MPC begins its final 2024 meeting with analysts predicting a 25-50 bps hike in the Monetary Policy Rate to tackle rising inflation
Central Bank of Nigeria’s (CBN) monetary policy adjustment to 27.25%, 19 Nigerian banks now offer an 8.18% savings account interest rate.
Naira weakens to N1750/$ at the black market amid dollar demand pressure, while official markets see a slight recovery to N678.6/$
NBS is set to release Nigeria’s October inflation data, with projections indicating a rise to 33.29% as Exchange rate fluctuations continues
Fitch predicts non-performing loans to further rise in Nigeria, driven by incessant inflation coupled with high interest rate.
