FG to borrow N1.76trn through treasury bills sales in Q3 of 2025
The Federal Government of Nigeria is planning to borrow N1.76 trillion by selling Treasury Bills (TBs) in the third quarter of 2025. This new borrowing plan, announced by the Central Bank of Nigeria (CBN), will help support the 2025 national budget. Compared to the same time in 2024, the amount has gone up by 12.8%, […]
CBN clarifies Non-Resident BVN charges for Diapora Nigerians
The Central Bank of Nigeria (CBN) has addressed concerns raised about the Non-Resident Bank Verification Number (NRBVN) platform. The bank made it clear that Nigerians living in Nigeria can still register for BVN without paying any fee. There are no hidden charges for local residents. CBN’s acting director of corporate communications, Mrs. Hakama Sidi Ali, […]
Court upholds NIBSS’ right to manage BVN database
A Federal High Court in Abuja has ruled that the Nigeria Inter-Bank Settlement System Plc (NIBSS) has the full legal right to manage the Bank Verification Number (BVN) system in Nigeria. In his judgment, Justice James Omotosho said that NIBSS’s role is in line with the Central Bank of Nigeria (CBN) Act and other financial […]
Naira returns to depreciation against dollar at official foreign exchange market
The Nigerian naira dropped in value again at the official foreign exchange market, closing the week with a downward trend. According to new data from the Central Bank of Nigeria, the naira traded at ₦1,539.24 to the US dollar on Friday. This shows it lost ₦3.12 from Thursday’s rate of ₦1,536.08. This loss came right […]
Godwin Emefiele faces fresh arraignment over illegal acquisition of 753 duplexes
Emefiele is expected to appear before Justice Hallilu at the Federal Capital Territory (FCT) High Court today, June 16, to answer questions about how he obtained the property. This case adds to the list of corruption allegations he has been dealing with in recent months. The estate, which is located at Plot 109, Cadastral Zone […]
Naira depreciates against dollar at official market
The Naira went down a bit in value compared to the US dollar at the official foreign exchange market on Thursday. According to the Central Bank of Nigeria (CBN), the exchange rate on Thursday was N1,584.95 for one dollar. This was a small drop from the N1,584.49 rate recorded the previous day. This means that […]
Nigerian economy stabilising — CBN Governor, Cardoso
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that Nigeria’s economy is now showing signs of stability. He spoke about this at a press conference held after the CBN’s 300th Monetary Policy Committee meeting on Tuesday. According to him, investors have shown more trust in Nigeria’s economy over the past […]
Naira slumps against dollar at Black market after CBN retains interest rate
The naira has dropped again in the black market, falling against the dollar after the Central Bank of Nigeria (CBN) decided not to change the interest rate. A currency dealer in Wuse Zone 4, Abubakar Alhasan, said on Tuesday that the naira was exchanged at N1628 per dollar. This is lower than Monday’s rate of […]
Naira continues appreciation at official foreign exchange market
Nigeria’s currency, the naira, showed a mixed performance on Tuesday as it continued to strengthen in the official foreign exchange market but fell slightly in the black market. According to data from the Central Bank of Nigeria (CBN), the naira appreciated slightly at the official rate, moving from N1,600.44 per dollar on Monday to N1,600.030 […]
Naira continues depreciation against dollar across official, black FX markets
The Naira’s struggle against the dollar continues, with its value dropping on Thursday in both the official and black market exchange rates. According to the latest data from the Central Bank of Nigeria (CBN), the official exchange rate saw the Naira fall further to N1609.64 per dollar, compared to N1,608.60 the day before. This means […]