Adewole Adebayo, the Social Democratic Party's presidential candidate, has stated that if he is elected President of Nigeria in 2023, the naira will become a stable currency.
He stated that while he cannot guarantee that the naira will equal the dollar, he will ensure that the value of the country's currency does not...
The Central Bank of Nigeria has stated its willingness to provide additional assistance to members of the Ogun Farmers and Commodity Association through its Anchor Borrowers Programme.
The CBN governor, Godwin Emefiele, stated this on Thursday, when the Ogun State governor, Dapo Abiodun, led the association's leadership to the Apex...
The total borrowing of the Federal Government from the Central Bank of Nigeria through Ways and Means Advances increased from N17.46 trillion in December 2021 to N19.91 trillion in June 2022.
According to CBN data, the Federal Government borrowed N2.45 trillion from the apex bank in six months.
According to the Debt Management...
According to the 2023-2035 Medium Term Expenditure Framework & Fiscal Strategy Paper, the Federal Government estimates that debt servicing will cost N10.43 trillion by 2025.
This represents a 182.66% increase over the N3.69tn budgeted for debt service in 2022.
Multilateral agencies and economists have repeatedly warned the...
Ayo Akinfe
Private jets - A Gulfstream costs about $65m. Only the Central Bank of Nigeria (CBN) has that kind of foreign exchange. In this new era, every penny needs to be saved for the purchase of much-needed industrial equipment. If we deplete the CBN’s reserves on things like private jets, then we have no moral right to complain...
RECENTLY-published Central Bank of Nigeria (CBN) statistics have revealed that the total value of non-performing loans totalled N1.21tn ($2.91bn) as of the end of February 2022 in what officials say is an indication that the sector is being well policed.
According to date just released by the CBN's Monetary Policy Committee...
FORMER Central Bank of Nigeria (CBN) deputy governor Professor Kingsley Moghalu has suffered a shock setback in his bid to become Nigeria's next president after he was defeated in the primaries of the African Democratic Congress (ADC) yesterday.
In 2019, Professor Moghalu was a presidential candidate running on the platform...
CENTRAL Bank of Nigeria (CBN) directors have agreed to keep the interest rate for lending for critical sectors and manufacturing industries at 5% until March 2023 as part of an ongoing plan to help stimulate the economy.
Nigeria has a population of over 200m people but has a gross domestic product (GDP) of just about $400bn,...
BRITISH investigators have uncovered another major Nigerian corruption scandal involving Bashir Jamoh the managing director of the Nigeria Maritime Administration and Safety Agency (Nimasa) with two sums of N1.5trn ($3.6bn) and $9.5m traced to his private accounts.
In a shocking development, the N1.5trn was discovered in a...
FORMER president Dr Goodluck Jonathan and Central Bank of Nigeria (CBN) governor Godwin Emefiele look to be out of the All Progressives Congress (APC) presidential race after their supporters failed to submit their nomination forms on time.
Both Dr Jonathan and Mr Emefiele had their expression of interest and nomination...
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