Current news from central bank of nigeria

Here are some current news and updates from the Central Bank of Nigeria (CBN):

Recent Developments:

  1. Monetary Policy Committee (MPC) Meeting: The CBN's MPC met on March 22-23, 2023, and decided to maintain the Monetary Policy Rate (MPR) at 15.5%. The committee also maintained the Cash Reserve Ratio (CRR) at 27.5% and the Liquidity Ratio at 30%.
  2. Inflation Rate: The CBN reported that Nigeria's inflation rate rose to 18.17% in February 2023, up from 17.15% in January 2023. The committee attributed the increase to the impact of the Russia-Ukraine conflict on global commodity prices.
  3. Foreign Exchange Market: The CBN has been intervening in the foreign exchange market to stabilize the naira. In February 2023, the bank sold $1.3 billion to support the currency.
  4. Digital Currency: The CBN has launched a digital currency, eNaira, to promote financial inclusion and improve the efficiency of transactions.
  5. Banking Sector Reforms: The CBN has introduced several reforms to improve the stability and efficiency of the banking sector, including the introduction of a new minimum capital requirement for banks.

Upcoming Events:

  1. MPC Meeting: The next MPC meeting is scheduled for May 23-24, 2023.
  2. Financial Inclusion Conference: The CBN will host a financial inclusion conference on April 26-27, 2023, to discuss ways to increase financial inclusion in Nigeria.
  3. Agricultural Finance Conference: The CBN will host an agricultural finance conference on June 14-15, 2023, to discuss ways to improve agricultural financing in Nigeria.

Recent Speeches and Statements:

  1. Governor's Speech: CBN Governor, Godwin Emefiele, delivered a speech on March 22, 2023, at the MPC meeting, where he discussed the bank's monetary policy decisions and the impact of the Russia-Ukraine conflict on the Nigerian economy.
  2. Deputy Governor's Speech: CBN Deputy Governor, Edward Adamu, delivered a speech on March 24, 2023, at the 2023 Annual Banking and Finance Conference, where he discussed the bank's efforts to promote financial inclusion and improve the stability of the banking sector.

Recent Publications:

  1. Monetary Policy Committee (MPC) Minutes: The CBN publishes the minutes of its MPC meetings, which provide insights into the bank's monetary policy decisions and the factors that influenced those decisions.
  2. Economic Outlook: The CBN publishes an economic outlook report, which provides an analysis of the Nigerian economy and the bank's expectations for future economic growth.

Please note that the information provided is subject to change and may not be up-to-date. For the latest information, please visit the Central Bank of Nigeria's website or other reputable sources.