central bank of Nigeria
The central bank of Nigeria is Nigeria's primary monetary authority.
CBN Introduces Nigerian Overnight Financing Rate to Boost Money Market,
The Central Bank of Nigeria has launched the Nigerian Overnight Financing Rate (NOFR) to deepen the country's money market and improve transparency. This development aims to enhance monetary policy effectiveness and align Nigeria with international best practices.
Naira Fluctuates Between N1,390 and N1,393 in Nigeria's Parallel Market
The Nigerian Naira has experienced swings in the parallel market, dipping to N1,390 before rising to N1,393 per dollar. This volatility underscores ongoing currency market tensions and policy ambiguities, affecting investor confidence and import-export dynamics.
CBN Approves 100% Forex Repatriation for Nigeria's Oil Companies
The Central Bank of Nigeria now allows oil companies to fully repatriate foreign exchange earnings. This move aims to boost forex liquidity and stabilize Nigeria's currency market.
Central Bank of Nigeria adopts inflation-targeting policy to achieve single-digit inflation
The Central Bank of Nigeria has adopted an inflation-targeting policy to lower inflation to single digits. This move is crucial for stabilizing prices and supporting Nigeria's economic growth trajectory.