In recent weeks, the Naira has staged an impressive comeback against the United States Dollar, soaring by over N700 from N1,800 to its current N1,020 rate. This remarkable resurgence is attributed to the strategic policies implemented by the Cardoso-led Central Bank of Nigeria, which has effectively bolstered the Naira’s position against the dollar. Editor’s Picks … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has directed all banks to stop the use of foreign currency-denominated collaterals for naira loans. Adetona Adedeji, acting director of the banking supervision department at CBN, disclosed this in a statement on Monday. Editor’s Picks JUST IN: Court Orders Remands Of Emefiele In EFCC … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has cleared the $7 billion foreign exchange (FX) backlog which was pending when Yemi Cardoso took over as the Governor of the apex bank. This development was announced in a statement on Wednesday by the CBN Acting Director of Corporate Communications, Hakama Sidi Ali. … Read more
Eko Hot Blog reports that the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the financial institution would no longer fund intervention programmes. Cardoso disclosed this on Friday when he appeared before the senate committee on banking, insurance and other finance institutions, in Abuja. The apex bank chief said the apex … Read more
Eko Hot Blog reports that the Central Bank of Nigeria has created a department to deal with crude oil sales transactions by the Nigerian National Petroleum Company Limited, the Group Chief Executive Officer, NNPCL, Mele Kyari, announced on Thursday. Kyari also revealed that the Board of Directors of NNPCL had approved the decision to move … Read more
Eko Hot Blog reports that the Minister of Finance, Wale Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, has reassured Nigerians that the current surge in living expenses is being tackled. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the Chairman of the Federal Inland Revenue Service, Zacch … Read more