Tag Archives: CBN

The Dangote Group has disclosed that it would soon stop accessing foreign exchange (forex) from the Central Bank of Nigeria (CBN). The conglomerate has also revealed that it would expand its operations into the steel sector. Group Managing Director, Dangote Group, Olakunle Alake, made this disclosure during a panel discussion …

Commercial banks borrowed a total of N19.64tn from the Central Bank of Nigeria in 2019, an increase of 73 per cent from the N11.36tn borrowed in 2018. This has raised concerns among analysts following the rising liquidity problems in the financial services sector. This happened barely one month after the …