Nigeria’s gross external reserves rose to $50.45 billion as of February 16, 2026, Olayemi Cardoso announced at the conclusion of the Central Bank of Nigeria’s 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. The level marks the highest reserves position in more than a decade and provides an important cover of 9.68 months […]
Nigeria’s monetary authorities face a pivotal moment as the Monetary Policy Committee (MPC) of the Central Bank of Nigeria meets on February 23 and 24, with a growing body of data strengthening the case for cautious policy easing. After nearly two years of aggressive tightening that pushed the benchmark Monetary Policy Rate (MPR) to 27.0 […]
Temitope Adebayo The Central Bank of Nigeria (CBN) has rescheduled its September 2019 Monetary Policy Committee (MPC) meeting by one week. The Director of Corporate Communications, Isaac Okoroafor disclosed this in a statement released on Tuesday. Okoroafor noted that the meeting earlier scheduled for next week will now hold on Thursday and Friday this week. […]
Motolani Oseni The Nigeria Employers’ Consultative Association (NECA) on Thursday has called on the Central Bank of Nigeria (CBN) to, in the interim, suspend the planned foreign exchange restriction for milk importation. Speaking at a Business Forum in Lagos, Director-General of NECA, Mr Timothy Olawale, explained on the need to gauge the suitability or otherwise […]
…As traders eagerly awaiting outcome of MPC meeting today Motolani Oseni The Nigerian currency, Naira at the close of yesterday trading activities strengthened against the US Dollar at both the official and unofficial foreign exchange markets. This is even as activities at the market on Monday remained slow, due to the anticipation of the likely […]
Motolani Oseni As part of efforts to reduce access to its Standing Deposit Facility (SDF), a group of analysts at ARM research have said the Central Bank of Nigeria (CBN) is limiting the top four Tier 1 commercial banks access to its facility. The apex bank had issued a circular, stressing that, “remunerable daily placements […]
The Association of Bureaux De Change Operators of Nigeria (ABCON) has reinforced its support for the Central Bank of Nigeria’s (CBN) financial stability and monetary policy functions. In a statement released yesterday, ABCON President, Alhaji (Dr) Aminu Gwadabe said the apex bank under Governor Godwin Emefiele has achieved financial stability and promoted monetary policy initiatives […]