Business News

CBN stabilises naira with $25.68 billion in eight months

by Chuks Azotanion November 15, 2019
The Central Bank of Nigeria injected about $25.68bn to stabilise the nation’s currency in the foreign exchange market between January and August this year. The $25.68bn was arrived at by newsmen based on analysis of the monthly economic report released by the apex bank. The $25.68bn intervention is aimed at boosting liquidity in the foreign […]


by David Kwewumon October 8, 2019
Looking at the cut in Repo rate and Monetary Policy rate between India & Nigeria respectively, we can see that India has opted to reduce its repo rate thus trying to boost its economy in response to global economic shocks to GDP. This allows banks to lower interest rates for consumers and offer lower equal monthly instalments on home loans, car loans and personal loans which all points to an increase in supply of money

CBN spends N146bn to support 849,480 rice farmers, says Emefiele

by Ikokwu Ikembaon September 20, 2019
The Central Bank of Nigeria (CBN) says it spent N146 billion to support 849,480 wet and dry seasons rice farmers across the country.The CBN Governor, Mr Godwin Emefiele, gave the details at a meeting with some state Governors in Abuja on Thursday. Emefiele said that the bank was working with other stakeholders to wage war […]