There are strong indications that the Central Bank of Nigeria (CBN) is set to wield the big stick on forex speculators in the country in the coming days, a development that may see a massive crash in the exchange rate of the dollar against the naira. The acting Governor of …
Read More »CBN to Name Banks Engaged in Illegal Sale of Forex
Central Bank of Nigeria (CBN) has said it will name commercial banks engaged in illegal sales of Dollars. Folashodun Shonubi, acting governor, CBN stated this a lecture titled ‘Diaspora Remittances and Nigeria Economic Development’ held at the National Institute of Security Studies (NISS) in Abuja. Shonubi also said that a …
Read More »CBN Gives Reasons for Naira Scarcity, Blames Hoarding, Others
After fierce resistance, protracted heat on Nigerians and aggressive reactions leading to protest, authorities of the Central Bank of Nigeria (CBN) on Thursday, admitted that the ongoing problems associated with the Naira redesign and cash withdrawal policy were not anticipated. A Deputy Governor of the apex bank, Folashodun Shonubi, made …
Read More »Banks’ Total Assets Rises by N6.97 Trillion, Hit N53.17 Trillion in April — CBN
With growing credit to the real sector, the Central Bank of Nigeria (CBN) has disclosed that financial system total assets increased to N53.17trillion in April 2021. The Deputy Governor, Financial System Stability, CBN Aishah Ahmad, in her personal statement at the end of Monetary Policy Committee (MPC) meeting held in …
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