The Central Bank of Nigeria has reported eighty percent reduction of capital inflow to the country in two years. The CBN’s monthly economic report shows that capital inflow to Nigeria fell from seventeen point one billion naira in July 2019, to three point four billion naira in July 2021. The CBN said the fall is as a…
The Central Bank of Nigeria has directed all commercial banks to publish on their websites the names and Bank Verification Numbers of customers who engage in fraudulent practices to obtain foreign exchange from banks. The apex bank issued the directive in a circular signed by its Director in the Banking Supervision Department, Haruna Mustafa. Mustafa outlined the…
The Monetary Policy Committee of the Central Bank of Nigeria has again retained the monetary policy rate at eleven-point five percent. CBN Governor, Godwin Emefiele, made the announcement at a news conference at the bank’s headquarters in Abuja. The Central Bank Governor also complained about the negative effect of insecurity in Nigeria on the nation’s economy. Godwin…
The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at eleven point five percent. The Governor of the Central Bank of Nigeria, Godwin Emefiele, made the announcement at a media briefing after the meeting of the MPC. Emefiele said the MPC expects to see improvement in the economy through sustained…