Too much money printed by FG caused free fall of Naira – Gov Otti  Governor Alex Otti of Abia State says the reason we are experiencing incessant free fall of the naira was because the Federal Government printed too much money in circulation. Otti stated this during an interview on Channels Television’s Politics Today on Thursday. He… Read more

The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso says the Naira is grossly undervalued. Cardoso said this on Tuesday in Abuja, while presenting a communiqué from the 293rd meeting of the apex bank’s Monetary Policy Committee (MPC). He said that the foreign exchange market had not been functioning effectively and had… Read more

•Releases guidelines for sale to end-users •Pegs PTA at $4,000; BTA at $5,000 per individual The Central Bank of Nigeria, CBN yesterday resumed dollar sales to BUreaux De Change, BDCs, with   sale of $15.7 million to 785 bureaux de Change across the country. According to the apex bank,   $20,000 will be sold to each   BDCs at… Read more

•External Reserves rises to $34.5bn as reforms attract $2bn •Clears another $400m backlog •Binance investigated for  $26bn suspicious transactions •MPR hike will hurt real sector — Analysts  The Central Bank of Nigeria (CBN) yesterday raised its benchmark interest rate, the Monetary Policy Rate (MPR) by 400 basis points from 18.75 percent to 22.75 percent. The CBN… Read more

The Central Bank of Nigeria, CBN will from today commence the sale of $15.7 million to 785 bureaux de Change across the country. The CBN said it will sell $20,000 to each of the 785 BDCs at N1,301/$. The BDCs are to sell the dollars to the end-users at a margin not more than 1%… Read more

•Nigerian affiliate wins country’s Best FX Bank Ecobank International has won the Best Bank for SMEs in Africa 2024 award in the annual SME Bank Awards of the Global Finance. The award ceremony which took place at Glaziers Hall in London, also saw one of its affiliates, Ecobank Nigeria, emerging Best FX Bank under the Country… Read more

The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso says the Naira is grossly undervalued. Cardoso said this on Tuesday in Abuja, while presenting a communiqué from the 293rd meeting of the apex bank’s Monetary Policy Committee (MPC). He said that the foreign exchange market had not been functioning effectively and had… Read more