Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate, which benchmarks interest rates, from 22.75 percent to 24.75 percent. The CBN Governor, Olayemi Cardoso, disclosed this on Tuesday at the 294th meeting of the Monetary Policy Committee (MPC) press briefing in Abuja. Editor’s Picks Fake News Alert: … Read more
CBN approves sale of $10,000 to each BDC at N1,251/$1 rate. Circular directs BDCs to sell to eligible users with a spread of not more than 1.5% above purchase price. Second tranche of foreign exchange sale to eligible BDCs authorized by the apex bank. The Central Bank of Nigeria (CBN) has sanctioned the sale of … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has revoked the licences of 4,173 bureau de change (BDC) operators for failing to observe regulatory provisions. The apex bank disclosed the development in a statement signed by its acting director, corporate communications, Sidi Ali, on Friday. The CBN said the BDCs failed to … Read more
The naira on Monday traded at N362.57 to the dollar at the parallel market in Lagos. Turnover at the window stood at 293.60 million dollars. The currency was N359 to dollar at the parallel market in Lagos, while it was exchanged at N445 and N397 to the pound sterling and Euro, respectively. At the Bureau … Read more