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Nigeria’s Central Bank Reveals Depleting Foreign Reserves is Due to Debt Servicing

Washington DC, USA - During the ongoing International Monetary Fund/World Bank Spring Meetings in Washington D.C., Central Bank of Nigeria Governor, Olayemi Cardoso, addressed...

Despite North’s Displeasure, 1,500 Central Bank of Nigeria Staff Relocate to Lagos

ABUJA, Nigeria - In a significant move within Nigeria's financial sector, no fewer than 1,500 staff members of the Central Bank of Nigeria (CBN)...

‘Economic Disparity’: Northern Elders Opposes Central Bank’s Decision to Relocate Some Depts to Lagos

ABUJA, Nigeria - The Northern Elders Forum (NEF) has voiced its strong opposition to the Central Bank of Nigeria (CBN)'s plans to relocate key...

Abuja Court Orders EFCC to Release Former Central Bank Governor Emefiele

ABUJA, Nigeria — Justice A.O. Adeniyi of the High Court at the Federal Capital Territory (FCT) in Abuja on Friday, November 3, 2023, directed...

House of Reps Investigates N81.2 Billion Spent by National Great Green Wall Agency on Tree Planting

ABUJA, Nigeria — The House of Representatives has opened an investigation into the National Agency for Great Green Wall, NAGGW, over its alleged spending...

Anti-Corruption Group Takes Battle to Court Over Acting Central Bank Governor’s Undeclared Assets

ABUJA, Nigeria - The Network Against Corruption and Trafficking Foundation, NACAT, a Nigerian pro-democracy civil society organisation, has filed a lawsuit against Folashodun Shonubi,...

Surge in Fraud Cases Rocks Nigerian Banks, Fueling Concerns Over Insider Involvement

LAGOS, Nigeria — Nigerian deposit money banks are grappling with a staggering increase in fraud cases and financial losses, as revealed in a report...

Federal Government Drops Firearms Charge Against CBN Governor, Files New Charges in Abuja

LAGOS, Nigeria — On Tuesday, August 15, 2023, the Federal Government sought to withdraw its "illegal possession of firearms" case against the embattled Central...

Nigeria’s Central Bank Tightens Reins on Banks’ Shady Forex Sales

ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has taken a definitive stance against commercial banks involved in illicit foreign exchange sales, with...

Naira Nosedives: Citizens Grapple as Currency Hits All-Time Low Amid New Forex Policies

LAGOS, Nigeria — The Nigerian naira nosedived to an all-time low of N925/$1 on the parallel market, reflecting the unanticipated aftermath of recent adjustments...

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