In Your Interest
February 15, 2024/CBN The Central Bank of Nigeria (CBN) has observed that proceeds of crude oil exports by International Oil Companies (lOCs) operating in Nigeria, are transferred offshore to fund parent accounts of the IOCs (otherwise referred to as “cash pooling’). This has an impact on liquidity in the domestic […]
February 15, 2024/CBN Memorandum 8 of the Foreign Exchange manual and the circular with reference FMD/DIR/CIR/GEN/08/003 dated February 20, 2017, stipulate the eligibility criteria for accessing Personal and Business Travel, allowances (PTA/BTA). In line with the Bank’s commitment to ensure transparency and stability in the foreign exchange market and avoid foreign […]
February 15, 2024/Cordros Report Nigeria’s headline inflation rose by 98bps in January to 29.90% y/y (December: 28.92% y/y). The outturn is 40bps higher than Bloomberg’s median consensus estimate (29.50% y/y). Likewise, on a month-on-month basis, headline inflation increased by 35bps to 2.64% (December: 2.29% m/m). Food inflation grew stronger […]