Tags : Monetary policy

Nigeria’s Trade Deficit Falls By 61%

The Central Bank of Nigeria has disclosed in its Monthly Economic Report for July 2021 that the nation’s trade deficit fell year-on-year by 61 per cent to $340 million in July 2021 from $880 million in July  2020. However, receipts from crude oil and gas exports rose by 127 percent to $3.99 billion in October […]Read More

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INFOGRAPHICS: Forex Price Increase Over New Policy

The Central Bank of Nigeria, last week, announced the discontinuity of forex supplies to the Bureau de Change Operators in the country. The end of forex sales and new licence was approved after the Monetary Policy Committee two-day meeting. BDCs were set up to receive a weekly supply of FX… You must be registered to […]Read More

38 Million Nigerian Adults Financially Excluded

A survey has reported that 36 percent of Nigerian adults, or 38 million adults, remained completely financially excluded at the end of 2020. According to a new report by Enhancing Financial Innovation & Access, titled ‘New data from EFInA’, said financial inclusion grew, adding that there was a need for more action. Part of the […]Read More

CBN Keeps Monetary Policy Rate At 11.5%

The Monetary Policy Committee of the Central Bank of Nigeria  has voted to retain the monetary policy rate at 11.5 percent. The committee also retained the liquidity ratio at 30 percent and cash reserve ratio  at 27.5 percent. The CBN governor, Godwin Emefiele said of the nine-member committee, six members voted to maintain all parameters […]Read More