CBN: How Currency Deal With China‘ll Boost Nigeria’s Economy

The Nigeria-China currency swap deal will not  stifle local companies and make the country a dumping ground for Chinese goods, the Central Bank of Nigeria (CBN) said yesterday. The 41 items banned since 2015 will not be valid for the swap exchange, the CBN said. CBN spokesnman Isaac Okorafor said: “The fear is unfounded and […]


Heritage Bank, CBN, ICC Brainstorm On Global Trade Operation Systems

Heritage Bank Plc, Nigeria’s most innovative banking service provider, has hosted the May 2018 edition of the bankinng technique and practice meeting of the International Chamber of Commerce Nigeria. The meeting held at the Victoria Island Office of the financial powerhouse attracted representatives of the ICC Nigeria as well as the experts on the trade desks […]

CBN Signs $2.5 Bn Currency Swap Deal With China

After two years of painstaking negotiations, the Central Bank of Nigeria has finally signed the execution of a bilateral currency swap agreement with the People’s Bank of China. The development was confirmed on Thursday in Abuja by the Acting Director, Corporate Communications, CBN, Mr Isaac Okorafor. He said that the Governor of CBN, Mr Godwin […]

CBN Captures 31m Nigerians In Bank Verification Number Project

The Central Bank of Nigeria (CBN) has captured no fewer than 31 million account customers in its Bank Verification Number (BVN) project aimed at ensuring unique identifier in the Nigerian banking industry. BVN CBN Director, Banking and Payment System, Mr Dipo Fatokun, disclosed this in a paper titled, `Nigeria’s progress towards the creation of a […]

CBN Injects $210 m In Wholesale FOREX Market, Others

The Central Bank of Nigeria (CBN) on Tuesday continued its intervention in the inter-bank sector of the Foreign Exchange market, injecting $210 million in the wholesale segment and other sectors of the market. Details of the intervention showed about $100 million went to the wholesale sector of the market, while the small and medium enterprises […]

Naira To Remain Stable On CBN Interventions

The naira is expected to remain stable against the United States dollar in coming weeks as the Central Bank of Nigeria continues to intervene in the foreign exchange market. The CBN on Wednesday injected $210m into the foreign market, about a week after it injected $200m into the market. Analysts and forex traders said the […]

Monetary Policy Rate

CBN Retains Monetary Policy Rate At 14%

The Monetary Policy Committee of the Central Bank of Nigeria on Wednesday left the Monetary Policy Rate unchanged at 14 per cent. The CBN Governor, Mr Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja. He explained that nine members of […]

Investors Staked N136.24 billion In Equities In March

Equity transactions on the Nigerian Stock Exchange (NSE) for the month of March recorded a total of 10.166 billion shares valued at N136.241 billion in 103,441 deals, representing a 14.88% drop in volume terms and 28.49% rise in value when compared to the preceding month of February. The financial services sector accounted for 5.74 billion […]

CBN, Nigerian Banks, Mobile Money Operators Unveils Strategy to Accelerate Financial Inclusion … To Create 500,000 Jobs

In line with the Central Bank of Nigeria (CBN) policy towards making sure that all Nigerian have access to financial services across the country, Nigerian banks, licensed Mobile Money Operators and Super Agents on Tuesday March 27, 2018 has agreed to roll out a 500,000 shared Agent Network, which will accelerate financial inclusion in the […]