CBN Speaks on Plans To Redenominate Naira
Isa AbdulMumin, the Central Bank of Nigeria, CBN's Director of Corporate Communications, has denied claims that the apex bank plans to redenominate the country’s currency. DAILY REPORT NG gathered that…
Northern Senators Dare Tinubu, Reject Relocation Of CBN, FAAN Offices to Lagos
The Northern Senators Forum (NSF) has expressed its disapproval of the proposed relocation of some Federal Government agencies from Abuja to Lagos. NSF also alleged that the distribution and allocation…
Nigeria Spent $15.55bn on Debt Servicing in five years – CBN
Nigeria has spent a total of $15.55 billion on debt servicing between 2019 and 2024, according to data from the Central Bank of Nigeria. The country's debt servicing payments…
CBN Injects $20,000 Into Forex Market To Boost Liquidity
The Central Bank of Nigeria (CBN) has released $20,000 to each Bureau De Change (BDC) operator to provide more liquidity in the foreign exchange market. According to the CBN's…
CBN Warns Nigerians Over Surge in Fraudulent Foreign Currency Transfer Claims
The Central Bank of Nigeria (CBN) has issued a stern warning to Nigerians about a rising trend of fraudulent foreign currency transfer claims, urging the public to be cautious of…
CBN Clears Outstanding $7bn FX Backlog
CBN has cleared the outstanding $7 billion foreign exchange backlog. Olayemi Cardoso announced that the clearance followed a successful verification exercise by forensic auditors. The move is expected to ease…