17 results
- 19 Jan 2009
CBN Reintroduces Retail Dutch Auction System
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) last week suspended the Wholesale Dutch Auction System (WDAS) and reintroduced Retail Dutch Auction System (RDAS) with effect from…
- 19 Feb 2015
CBN Scraps Forex Market, Devalues Naira to N197 to $1
Central Bank of Nigeria (CBN) yesterday finally succumbed to market forces by devaluing the naira by N29, after several months of propping up the local currency. Effective from yesterday, the central…
- 6 Jan 2014
CBN Doles Out $26.6Bn to Defend the Naira
Central Bank of Nigeria (CBN) shelled out some $26.6 billion from the nation’s external reserves to save the naira from devaluation last year, according to information on the apex bank’s website. CBN…
- 31 Dec 2013
Foreign Reserves Drop to $43Bn
Nigeria’s foreign reserves have dropped to $43.7billion, one week after falling to $43.9 billion, according to the latest figures from the Central Bank of Nigeria. The Punch reported that on December…
- 6 Mar 2015
Nigerian Banks in Trouble, Plan Mass Sack of Workers
Nigeria’s banking sector is currently witnessing a shockwave, following economic decline caused by reduced oil revenue, according to Daily Sun i nvestigations. As a result, fear of massive sack of…
- 1 Oct 2013
CBN Bans Importation of Foreign Currency
Central Bank of Nigeria (CBN) has banned the importation of all foreign currencies except with approval. This is coming on the heels of the apex bank’s withdrawal of the operating licence of 20…
- 23 Feb 2015
Fuel Scarcity Looms as Forex Threatens Imports
Nigeria may be heading for another round of fuel due to a combination of factors which have all conspired to threaten the importation of premium motor spirit (PMS) also known as petrol. First is the…
- 11 Nov 2016
Nigeria to Sell N95Bn in Bonds Next Week – DMO
Nigeria plans to sell N95 billion ($301.8m) of bonds on November 16, the Debt Management Office (DMO) said on Friday. The office said it would sell N35 billions of a bond maturing in 2036, and N25…
- 6 Dec 2013
Naira Hits N171 Per Dollar as Banks Halt Sale of Forex
The Naira has hit N171 to one United States dollar at the Bureau-de-changes (BDCs), only outlets currently selling to the public besides the parallel market. Banks are currently reluctant to sell…
- 30 Mar 2017
Nigeria to Sell N235Bn Treasury Bills on April 6
Nigeria plans to sell 234.89 billion naira ($765.99 million) of short-dated treasury bills at an auction on April 6, the central bank said on Wednesday. The bank said it plans to sell 35 billion…
- 4 May 2026
CBN to Raise N700Bn in First Treasury Bills Auction this May
Central Bank of Nigeria (CBN) is set to raise N700 billion through a Nigerian Treasury Bills auction scheduled for May 7, marking its first issuance for the month in line with its second-quarter…
- 4 Feb 2015
Nigeria to Raise N90Bn in Bonds on February 11
Nigeria plans to raise N90 billion ($475 mln) in sovereign bonds with maturities ranging between five and 20 years at its next regular auction on Feb. 11, the Debt Management Office (DMO) said…
- 14 Apr 2009
CBN Improves Liquidity, Slashes MPR to 8%
The Central Bank of Nigeria (CBN) has pegged the monetary policy rate (MPR) at eight percent, in a move to improve liquidity conditions in the domestic money market. Monetary policy rate, formerly…
- 16 Oct 2013
Nigerians Buy and Sell Dollars in Dubai, Saudi Arabia-CBN
Central Bank of Nigeria (CBN) said it has uncovered a new wave of economic crime where some Nigerians buy the United States Dollars in Nigeria and take them to Dubai (in the United Arab Emirates) and…
- 3 Mar 2015
Nigeria Loses $2Bn FDI to Polls’ Shift
Nigeria lost over $2 billion worth of Foreign Direct Investment (FDI) to other countries, following postponement of the general elections, according, Norbert Bielderman, to acting managing director…
- 1 Apr 2014
Exposed! How Cash Cartels are Conspiring to Kill the Naira
A lethal gang of unscrupulous expatriates; some Deposit Money Banks (DMBs; and Bureau de Changes (BDCs) have all conspired to ensure that the Central Bank of Nigeria (CBN) fails to salvage the…
- 13 Mar 2017
ALTON Urges CBN to Prioritize Allocation of Forex to Telcos
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has drawn the attention of the Executive Vice Chairman (EVC), Nigerian Communications Commission (NCC) to the challenges…