The House of Representatives has launched an investigation into how government intervention funds and agricultural financing were utilized by various ministries, departments, and agencies between 2017 and 2024. The House Committee on Nutrition and Food Security has commenced a… House of Reps Investigates Billions Spent On Agriculture Amidst Rising Food Prices …C0NTINUE READING HERE >>>>
Investigations have revealed that State governors have warned council chairmen against opening an account with the Central Bank of Nigeria (CBN) for the direct payment of their allocations from the Federation Account. This recent setback is coming nearly nine months after the… Govs Block LG Autonomy, Warns LG Chairmen Against Opening Account With CBN …C0NTINUE … Read more
Central banks worldwide are accelerating efforts to launch digital currencies as part of a broader strategy to modernize financial systems, enhance payment efficiency, and drive financial inclusion. Nations like the Bahamas, Nigeria, and Jamaica have successfully launched… Buhari Government’s eNaira Flops Three Years After Lunch …C0NTINUE READING HERE >>>>
The Central Bank of Nigeria (CBN) defended the naira against the dollar by selling $197.71 million to authorised foreign exchange dealers in the country’s official FX market. The latest intervention by the apex bank took place on Friday as United States President Donald… CBN defends naira against dollar with $197m intervention amid Trump’s tariffs …C0NTINUE … Read more
The World Bank has clarified that its planned $10.50 million financing to the Central Bank of Nigeria (CBN) is a grant, not a loan. This clarification comes after earlier reports suggested that Nigeria had sought a $10.50 million loan to enhance the CBN’s technical capacity… World Bank Clarifies $10.50 Million Grant For CBN, Not A … Read more
The Central Bank of Nigeria (CBN) on Friday supplied a total of $197.71 million to the foreign exchange market through sales to authourised dealers. The apex bank’s Director of Financial Markets Department, Dr Omolara Duke, disclosed this in a statement on Saturday in… CBN injects $197.71m to boost fx liquidity …C0NTINUE READING HERE >>>>
The Central Bank of Nigeria, CBN, has denied introducing new N5,000 and N10,000 notes. CBN described the reports as false. There has been widespread reports that the CBN had unveiled the high-denomination bank notes to enhance cash transactions. The report said the apex bank… CBN denies introducing N5000, N10,000 notes …C0NTINUE READING HERE >>>>
The Central Bank of Nigeria (CBN) has vehemently denied online claims that it had introduced ₦5,000 and ₦10,000 banknotes to ease cash transactions. In a statement posted on its official social media account on Wednesday, the apex bank described the report as “fake”… CBN Dismisses Report On Introduction Of ₦5,000 And ₦10,000 Banknotes …C0NTINUE READING … Read more
The Central Bank of Nigeria (CBN) has reported the highest Net Foreign Exchange Reserve (NFER) position as of the end of 2024. According to CBN data, NFER stood at $23.11 billion, the highest level in over three years. The improvement marked an increase from $3.99 billion at… Nigeria’s net foreign exchange reserve hits highest level … Read more
The Nigerian electricity sector experienced a slowdown in the fourth quarter of 2024 (Q4 2024), with the electricity production index decreasing by 1.64% compared to the same period last year. According to the Central Bank of Nigeria (CBN), this decline contrasts sharply with… Nigeria’s Power Generation Plummet By 1.64% …C0NTINUE READING HERE >>>>