•CBN Governor Cardoso The Central Bank of Nigeria (CBN) has debunked reports that it is considering a policy to convert foreign currencies in domiciliary accounts of citizens to naira to stabilise the national currency, which earlier this week recorded its worst performance in history. Management of the CBN debunked this news via its official ...
Nigerians are in for more economic hardship induced by inflation as the Central Bank of Nigeria (CBN) has increased the Nigeria Customs Service (NCS) exchange rate for clearance of imported goods to N1,356.883 per 1$. Information obtained by this paper from the Customs official website yesterday morning indicated that the exchange rate was adj...
Bureau De Change operators (BDCs) in Abuja got a rude shock yesterday as security operatives swooped on them in a sting operation designed to arrest the free fall of the naira, believed to be fuelled by the antics of currency speculators. The security agencies, working in cahoots with the Central Bank of Nigeria (CBN), quizzed […]
Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest today, Thursday February 1, 2024. The CBN, which made the disclosure in a new circular released yesterday, also warned lenders against hoarding excess foreign currencies for...
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN) has announced the complete settlement of foreign exchange (FX) owed to all foreign airlines operating in the country. The final tranche of $64.44 million brings the total disbursements to airlines to $136.73 million, effectively clearing all verified claims within the sector, reports...
At least 1,500 members of staff of the Central Bank of Nigeria will on Friday resume at its Lagos office following their redeployment from the headquarters, we learned. A source at the apex bank told our correspondent exclusively that the plan, though heavily criticised, was still in motion, and affected staffers would be resuming on […...
•CBN Governor Yemi Cardoso In a move aimed at addressing the persistent backlog of verified foreign exchange (forex) transactions, the Central Bank of Nigeria (CBN) has injected another $500 million into the market. This comes barely a week after the bank injected approximately $2 billion to settle outstanding commitments across the manufactur...
Financial experts say the naira may hit N2000 to a dollar exchange mark in a matter of months considering how the currency continues to depreciate both at the official and parallel markets despite efforts being made by the Central Bank of Nigeria (CBN). The naira was N1,120/$ on December 31, 2023. It went down to […]
•Sanusi Former Central Bank of Nigeria(CBN) Governor Sanusi Lamido Sanusi has supported the relocation of some departments of the apex bank from Abuja to Lagos. He said it was right thing to do, dismissing those against the relocation as playing dirty politics, reports The Nation. There have been criticisms in some quarters since the CBN [&hel...
•CBN headquarters, Abuja The Northern Elders Forum (NEF) has expressed concern over the reported plans by the Central Bank of Nigeria (CBN) to relocate major departments from the Abuja headquarters to the former headquarters in Lagos. NEF made this known a statement signed by Abdul-Azeez Suleiman Director Publicity and Advocacy/Spokesperson an...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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