Critical flaw in the implementation of the naira redesign policy is responsible for the prevailing cash scarcity, Central Bank of Nigeria (CBN) Governor Yemi Cardoso, said yesterday. Cardoso acknowledged the “glaring defects” in various CBN policies and announced a comprehensive review initiative. “We are…

There are troubling signs from many parts of the country that the cash crunch that grounded the economy at the start of this year is making a comeback as customers are finding it hard to get cash from banks. This has forced POS operators…

FILE PHOTO: A view shows Nigeria's Central Bank headquarters in Abuja, Nigeria November 22, 2020. REUTERS/Afolabi Sotunde/File Photo Eight commercial banks have fallen short of the Capital Adequacy Ratio (CAR) required for international authorisation, the stress test conducted by the Central Bank of Nigeria (CBN) has…

Despite recent moves by the Central Bank of Nigeria to strengthen the foreign exchange market, the naira closed trading on the Investor & Exporter forex window on Thursday at N996.75/$. This is a 13.95 per cent decline from the N874.71/$ it closed trading…

Those hoarding dollars and back market operators risk losing their deposits. The new monetary policies of the Bola Ahmed Tinubu administration and the Central Bank of Nigeria (CBN) will shock speculators, Vice President Kashim Shettima said yesterday. Shettima dropped the hint at the lecture/launch of…

The Federal Government through the Central Bank of Nigeria, has commenced payment of outstanding matured FX forwards owed to various creditors, the PUNCH can report. A source familiar with the development confirmed the payment on Thursday. Meanwhile, unconfirmed sources said three banks received full payment…