30 results
- 29 Jan 2013
External Reserves Short of N50Bn Target
Nigeria’s external reserves rose by 2.45 per cent in January to $45.43 billion as at January 23, according to data on the website of the Central Bank of Nigeria. Reserves which had grown by 34.76 per…
- 4 Mar 2013
External Reserves Up 3.5%, Hits $47.38Bn in Feb
Central Bank of Nigeria (CBN), at the weekend put the nation’s external reserves on February 28, 2013, at $47.38 billion, the highest in four years, rising by $1.603 billion or 3.5 per cent over the…
- 11 Mar 2018
External Reserves Now $46Bn– CBN
Nigeria’s External Reserves is steadily growing and currently stands at 46 billion dollars, according to Isaac Okoroafor, spokesman, Central Bank of Nigeria (CBN). Okoroafor, said in a…
- 2 Apr 2015
External Reserves Fall by $1.6Bn in March
The declining fortunes of the nation’s external reserve continued last month, as it fell by $1.55 billion during the month. Data published by the Central Bank of Nigeria (CBN) indicated that the…
- 17 Apr 2014
External Reserves Rise to $37.9Bn
The Central Bank of Nigeria (CBN) has said that the nation’s external reserves stood at 37.91 billion dollars as at April 15. This was posted on the apex banks’ Website on Wednesday. According…
- 21 May 2014
CBN Expresses Concern over External Reserves Depletion
The Monetary Policy Committee of the Central Bank of Nigeria (CBN), yesterday expressed concern over the drop in fiscal buffers stating that the development had exposed the economy to vulnerabilities…
- 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…
- 16 Sept 2021
Nigeria Seeks $3Bn with Eurobond Offer
Federal Government has announced plans for a Eurobond issuance in the International Capital Market (ICM) to raise $3 billion. The Debt Management Office (DMO) said, yesterday, that Virtual meetings…
- 19 Dec 2024
Diaspora Remittances to Nigeria Reach $4.22 Billion in 2024, Says CBN
Central Bank of Nigeria (CBN) has announced that diaspora remittances through international money transfer operators (IMTOs) reached $4.22 billion between January and October 2024. This figure…
- 7 Jun 2021
Move Towards Exchange Rate Unification Positive - Report
A report by the FSDH Research has described recent move by the Central Bank of Nigeria (CBN) to achieve exchange convergence is positive, saying it would ensure clarity and improve market confidence…
- 28 Jul 2022
Heritage Bank, LCFE, others Unlock N445trn Commodities Ecosystem for Economic Industrialization
Lagos Commodities and Future Exchange (LCFE), Heritage Bank Plc, Capital Market players and other stakeholders have unlocked the $1trillion (N445trn) commodities ecosystem as avenue to diversify the…
- 5 Dec 2018
Nigeria’s Economy Still Tied to Oil’s Fortunes
By Lukman Otunuga The Nigerian economy was exposed to an array of risk factors during H2 ranging from severely depressed Oil prices, falling external reserves, geopolitical tensions, and…
- 24 Jun 2014
CBN Moves to Check Pressure on Naira
Central Bank of Nigeria (CBN) in a bid to check the persistent depletion in the country’s external reserves yesterday released fresh guidelines for Bureau De Change operators. The development…
- 30 Aug 2018
Nigeria Foreign Exchange Reserves in focus, Gold slips
By Lukman Otunuga, Research Analyst at FXTM, The Nigerian Naira maintained stability against the Dollar on Thursday despite growing expectations over higher US interest rates this year. …
- 31 Dec 2015
Foreign Reserves Drop to $29.13Bn – CBN
Central Bank of Nigeria (CBN) has said that the nation’s foreign exchange reserves declined to 29.13 billion dollars as at December 29. The bank said on its Website that the drop represented 2.43 per…
- 3 May 2017
FXTM Analysis: Nigeria’s Economy Remains Resilient
Nigeria has displayed some resilience against the ongoing recessionary headwinds in 2017, with domestic data currently suggesting early signs of a potential recovery in economic growth. An…
- 26 Mar 2013
CBN Allays Concerns as Nigeria's Inflation Rises
Nigeria's inflation is likely to exceed 10 percent at some point over the next few months, but will return to single digits by the fourth quarter, according to statement from the Central Bank of…
- 17 Oct 2025
Nigeria’s FX Reserves Hit Five-Year High of $43.4bn — CBN
Central Bank of Nigeria (CBN) has announced that the country’s foreign exchange reserves have surged to a five-year high of $43.4 billion, despite recent efforts to clear FX backlogs and stabilise…
- 19 Sept 2016
CBN Officials in Forex Scandal, Allegedly Launder Forex Through Phony Firms
A major scandal has hit the new foreign exchange policy of the Central Bank of Nigeria (CBN) as it is now riddled with sharp practices. The policy, which was introduced in March and…
- 29 Sept 2016
MTN Dismisses Allegations of Improper Repatriation of Funds
MTN Nigeria has refuted as “completely unfounded” being allegations by the Senate of the Federal Republic of Nigeria that the Company has illegally repatriated $13.92 billion out of Nigeria over a…
- 28 Sept 2016
Melaye Fingers Minister, Banks in Illegal Transfer of $14Bn from MTN
Dino Melaye, member of the Senate representing Kogi-West Senatorial District, yesterday, alleged that MTN Nigeria had repatriated $13.9 billion from Nigeria to other countries between 2006 and now…
- 10 Jan 2013
CBN says FDIs Hit $6.07Bn in Q3 of 2012
Global investor confidence is rising in Nigeria as Central Bank of Nigeria (CBN) reported that aggregate foreign capital inflows jumped up by as much as 87.39 per cent to peak at $6.07 billion in the…
- 13 Sept 2018
Is Nigeria Exposed to the Emerging Market Chaos?
By Lukman Otunuga, Research Analyst at FXTM It has certainly been an explosively volatile trading quarter thus far as investors juggled with global trade tensions, Dollar strength and chaos…
- 24 Aug 2020
Emefiele and the Burden of a Prophet
By Jackson Ugbechie Dateline June 2015: Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), banned importation of 41 items which the apex bank classified as ‘not valid for forex’. Mr.…
- 13 Jan 2015
2015 Elections: GEJ Visits OBJ, Begs for Support
President Goodluck Jonathan last night met with former President Olusegun Obasanjo at his Hilltop mansion in Abeokuta, the Ogun State capital, in an attempt to seek the latter’s support for his…
- 16 Jul 2026
FX Reforms Deliver Big Win as Nigeria's Net Reserves Jump to $40bn
Nigeria's net foreign exchange reserves have risen significantly from about three billion dollars to 40 billion dollars, reflecting improved external liquidity and growing investor confidence…
- 3 Mar 2026
Nigeria's Net Reserves Surge 50% to $34.8bn in 2025 – CBN Governor
Nigeria's net foreign exchange reserves surged to $34.80 billion by end-2025, Central Bank Governor Olayemi Cardoso disclosed, marking a 50.58 percent rise of $11.69 billion from $23.11 billion in…
- 4 Nov 2013
FG May Lose $12Bn to Oil Theft this Year
Revenue earned by Nigeria this year may be as much as $12 billion short of budget estimates as theft of crude and output disruptions persist in the oil-rich Niger River delta, according to Ngozi…
- 10 Feb 2020
Nigeria Week Ahead – Stocks, Oil and Coronavirus in Focus
By Lukman Otunuga, Senior Research Analyst at FXTM, Speculation over central banks easing monetary policy in the face of coronavirus fears and slowing global growth may support appetite for riskier…