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IMF backs CBN's decision on interest rate hike

Nigeria, March 6 -- The International Monetary Fund (IMF) has endorsed the Central Bank of Nigeria's decision to increase the interest rate to 22.75 per cent. The Monetary Policy Committee of the CBN... Read More


Binance discontinues Naira services

Nigeria, March 5 -- Crypto exchange platform, Binance, on Tuesday disclosed plans to discontinue all Nigerian Naira (NGN) services on its platform, with a detailed timeline provided for users to take ... Read More


Bank of Ghana suspends GTB, FirstBank's forex licences

Nigeria, March 5 -- The Bank of Ghana on Monday announced the suspension of the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN). The suspe... Read More


Mixed reactions trail CBN's monetary policy decisions

Nigeria, Feb. 28 -- Economists and policy analysts have expressed concern about the recent actions taken by the Central Bank of Nigeria concerning the benchmark interest rate and other monetary policy... Read More


CBN resumes sale of dollars to BDCs

Nigeria, Feb. 28 -- In a bid to address the lingering price distortions affecting the Naira's exchange rate, the Central Bank of Nigeria (CBN) has authorised the sale of $20,000 to eligible Bureaux De... Read More


CBN says $26bn passed through Binance from unknown sources

Nigeria, Feb. 27 -- The Central Bank of Nigeria Tuesday raised concerns over the sum of $26 billion that flowed through Binance Nigeria over the past year from "unidentified sources". The Nigerian go... Read More


CBN advises customs on FX rate for import duty

Nigeria, Feb. 24 -- In response to concerns regarding inconsistent import duty assessment levies, the Central Bank of Nigeria (CBN) on Friday issued a directive advising the Nigeria Customs Service to... Read More


Shettima says forces bent on undermining Nigeria's economy - Shettima

Nigeria, Feb. 21 -- Nigeria's Vice President, Kashim Shettima, on Tuesday, accused some forces of undermining the efforts of the Bola Tinubu administration to stabilise the economy. He attributed the... Read More


Shettima says forces bent on undermining Nigeria's economy

Nigeria, Feb. 21 -- Nigeria's Vice President, Kashim Shettima, on Tuesday, accused some forces of undermining the efforts of the Bola Tinubu administration to stabilise the economy. He attributed the... Read More


Peter Obi urges Nigerian govt to address inconsistent customs duties

Nigeria, Feb. 21 -- The presidential candidate of the Labour Party in the 2023 elections, Peter Obi, has called on the federal government to urgently address the impact of inconsistent customs duties ... Read More