By Seun Ibiyemi The Central Bank of Nigeria (CBN) has directed all banks and other financial institutions to immediately freeze accounts and assets linked to individuals and entities sanctioned for alleged terrorism financing. The directive, contained in a circular issued on Thursday and signed by the CBN’s Director of Compliance, Olubunmi Ayodele-Oni, followed fresh sanctions…
…as Private sector credit growth slows Credit extended to the Federal Government by the banking sector surged by 75.6 per cent year-on-year to N40.38 trillion in May 2026, underscoring the government’s growing reliance on domestic borrowing despite prevailing tight monetary conditions. Latest monetary and credit statistics released by the Central Bank of Nigeria (CBN) showed…
By Seun Ibiyemi The Association of Bureau De Change Operators of Nigeria (ABCON) has thrown its weight behind recent sanctions imposed by the United States against individuals accused of financing terrorism, while stressing that the action should not be interpreted as a reflection of the entire Bureau De Change (BDC) industry. ABCON President, Aminu Gwadabe,…
By Seun Ibiyemi The naira traded relatively stable against the United States dollar on Tuesday, maintaining recent gains amid sustained foreign exchange liquidity and improving investor confidence in the market. Data from the Nigerian Foreign Exchange Market (NFEM) showed that the local currency exchanged at approximately N1,366.41 per dollar at the official market, remaining within…
By Seun Ibiyemi Total dollar inflows into Nigeria’s foreign exchange market declined by more than 26 per cent to $689 million during the review period, reflecting the impact of the Central Bank of Nigeria’s (CBN) continued absence from the market for six consecutive weeks. According to data compiled by Coronation Research, the sharp decline in…
By Seun Ibiyemi The naira posted a mixed performance in the foreign exchange market as traders continued to monitor liquidity conditions and dollar supply across official and parallel market segments. At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency traded around N1,360 to the United States dollar in recent sessions, reflecting marginal fluctuations…
By Seun Ibiyemi The Nigerian naira maintained relative stability against the United States dollar on Thursday, trading at about N1,358/$ at the official foreign exchange market, as improved liquidity and foreign investor activity continued to support the local currency. Market data showed the naira exchanging at approximately N1,358 to the dollar at the Nigerian Foreign…
By Seun Ibiyemi The Federation Account Allocation Committee (FAAC) has shared a total of N2.3 trillion among the Federal Government, state governments and local government councils as revenue allocation for May 2026. The disclosure was made by Bawa Mokwa, Director of Press and Public Relations in the Office of the Auditor-General of the Federation, in…
By Seun Ibiyemi The naira recorded a mixed performance in today’s foreign exchange trading sessions, as market forces continued to reflect persistent demand for the U.S. dollar alongside ongoing liquidity conditions in Nigeria’s FX market. In the official market, the naira traded within a relatively stable range for most of the session, with traders attributing…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has announced a Nigerian Treasury Bills (NTBs) auction valued at N450 billion, significantly below the N1 trillion offer size indicated in the revised second-quarter borrowing programme of the Debt Management Office (DMO). According to an official notice issued to Primary Money Market Dealers (PMMDs), the auction…
