Cardoso Woos Investors, Pledges To Tackle FX Scarcity

The Central Bank of Nigeria (CBN) Governor, Dr Yemi Cardoso, has assured local and foreign investors of a conducive operating environment, saying everything possible would be done to make them comfortable.

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CBN Denies Issuing New Policy Actions On Forex

The Central Bank of Nigeria has denied rumour making the rounds over new policy actions in the foreign exchange market.

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Hardship: Nigerian Breweries Announces Beer Price Hike

Amid the hardship caused by fuel subsidy removal, the Nigerian Breweries announced that it would hike the price of alcoholic drinks, popularly known as beer.

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CBN Lifts Restriction On $10k Deposit On Domiciliary Account

The Central Bank of Nigeria (CBN) has announced that cash deposits into domiciliary accounts will no longer be restricted, and customers ‘shall have unfettered and unrestricted access to funds in their accounts’.

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Nigeria’s Inflation Increases To 22.22 Percent

Nigeria’s April inflation figure increased to 22.22 per cent from 22.04 per cent last month.

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China’s Economy Grows By 4.5 Percent, Exceeds Expectations

The Chinese economy grew by 4.5 percent year-on-year in the first quarter of 2023, indicating that the world’s second-largest economy is now firmly on the path to recovery after the end of Beijing’s strict ‘zero-COVID’ policies.

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CBN Raises Interest Rate To 18%

The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 50 basis points to 18. per cent

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Twitter Announces Plans To Share Ad Revenue In Reply Threads

Twitter owner Elon Musk has announced the Blue App will share revenues from advertisements that appear in reply threads between it and Twitter account holders.

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It’s Illegal To Reject Old Notes Before January 31 Deadline – CBN Warns

The Zamfara State branch of the Central Bank of Nigeria, CBN, has said rejecting the old Naira notes before the deadline given by the apex bank is illegal and punishable by law.

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Banks’ Lending Rate To Customers Hits 29.13 Percent

The maximum lending rate in the banking sector hit 29.13 per cent, while savings deposit rates stood at 4.13 per cent as of December 2022.

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