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Nigeria's Central Bank Unifies Forex Market, Promotes Liquidity and Stability
The Central Bank of Nigeria (CBN) has recently announced a significant overhaul of the Nigerian Foreign Exchange (FX) Market, with the goal of enhancing liquidity and stability. As part of this effort...
CBN raises monetary policy rate for the second time this year
As a result of rising inflation, the Monetary Policy Committee of the Central Bank of Nigeria unanimously agreed to raise the benchmark interest rate, also known as the monetary policy rate, fro...
CBN’s “Naira4Dollar Scheme” falls beyond expectations
The "Naira4Dollar Scheme" of the Central Bank of Nigeria (CBN) was launched in March 2021, and since then, the rate of the naira has dropped by a staggering N127 (or 26 percent). ...
February 2022 Records a Fall in the Circulation of Nigeria’s Currency by N37.84 billion
Nigeria's currency in circulation declined by N37.94 billion in February to N3.25 trillion, down from N3.29 trillion in January 2022. On a month-to-month basis, this reflects a 1.2 percent decreas...
To improve cash management efficiency, the CBN has introduced Bank Neutral Cash Hubs
To improve cash management efficiency, the CBN has introduced Bank Neutral Cash Hubs The Central Bank of Nigeria (CBN), in partnership with the Bankers' Committee, has established Bank Neutral cas...