CBN

The Central Bank of Nigeria (CBN) and the Federal Ministry of Finance have formalised a framework for fiscal and monetary policy coordination, seeking to strengthen macroeconomic management and improve policy coherence.

Nigeria’s inflation picture changed more significantly in August than the headline figure of 15.39 percent suggests, with monthly price growth slowing sharply, core inflation turning negative and food inflation reversing the steep acceleration recorded in July.

GTCO, Access Holdings, United Bank for Africa and Fidelity Bank secured extensions from the Nigerian Exchange Limited to September 30 to submit their audited half-year results.

The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society’s Distinguished Organisation Award, with the professional body recognising reforms undertaken by the apex bank across Nigeria’s monetary, foreign exchange and financial sectors.

CBN Governor, Olayemi Cardoso, represented by Deputy Governor, Economic Policy Directorate, Philip Ikeazor, gave the assurance on Tuesday at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria in Abuja.

The apex bank announced on Tuesday that terrorism financing has now been elevated to a current supervisory priority, underscoring its determination to strengthen compliance with anti-money laundering and counter-terrorism financing regulations across the financial sector.

System liquidity increased from ₦3.6 trillion in the previous week, supported largely by banks’ placements at the Central Bank of Nigeria’s Standing Deposit Facility and inflows from maturing securities.

CBN data showed that reserves stood at $54.0839 billion on Thursday, up from $53.99 billion on September 2 and $53.90 billion on September 1.

Investors submitted N3.35 trillion worth of bids for Treasury bills valued at N700 billion, representing demand of almost five times the amount offered by the CBN.

Data from the Central Bank of Nigeria showed turnover fell from about $5.28 billion in the preceding trading week.