April 29, 2020/CBN In view of the gradual easing of the COVID-19 lockdown both globally and in Nigeria, the Central Bank of Nigeria (CBN) has resumed provision of foreign exchange to all commercial banks for onward sales to parents wishing to pay schools fees and SMEs wishing to make essential […]
Money Market
Short and long currency cycles
April 29, 2020/Coronation Report Last we noted that the Central Bank of Nigeria (CBN) is in no hurry to raise market interest rates and that – most of the time – Nigeria’s commercial banks are liquid, usually reporting over N500.0bn (US$1.3bn) in total closing balances. This situation is consistent with […]
CBN Lifts Temporarily Suspension of Cheque Clearing
April 28, 2020/CBN In furtherance of its effort in the development of a safe and efficient payment in Nigeria, the Bank in collaboration with relevant stakeholders has reviewed the need for cheque clearing to accommodate users of cheque as one of the payment instruments in Nigeria, despite the lockdown of […]
