Commercial Banks Borrowing From CBN Drops By 89% in August

The CBN has two short term lending windows for banks: the Standing Lending Facility (SLF) and Repo lending.

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55 minutes ago

September 1, 2026

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Commercial banks borrowing from the Central Bank of Nigeria’s (CBN) declined by 89 percent to N126 billion in August 2026 from N1.19 trillion in July 2026.

This means higher liquidity in the banking system.

The CBN has two short term lending windows for banks: the Standing Lending Facility (SLF) and Repo lending.

The apex bank lends money to banks through the SLF at interest rate of 500 bases points (bps) above the Monetary Policy Rate (MPR).

It also lends money to banks through Repurchase (Repo) arrangement, which involves the purchase of banks’ securities with the agreement to sell back at a specific date and usually for a higher price.

Source: Vanguard

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Naira Exchange Rates Tuesday September 1

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Naira Exchange Rates Tuesday September 1

Today, the Naira Black Market exchange rate for 1 US Dollar is 1398 Naira, British Pound is1890 Naira
While EURO is 1595 Naira.

Published

2 hours ago

September 1, 2026

OCHEFA

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BLACK MARKET EXCHANGE RATES

Today, the Naira Black Market exchange rate for 1 US Dollar is 1398 Naira.

Great British Pound (GBP) is 1890 Naira.

Euro (EUR) is 1595 Naira.

Canadian Dollar (CAD) is 1020 Naira.

Chinese Yuan is 190 Naira.

Ghanaian Cedi is 95 Naira.

South African Rand (ZAR) is 75 Naira.

UAE Dirham is 350 Naira.

CFA Franc (XOF) is 2300 Naira.

CFA Franc (XAF) is 2150 Naira.

Australian Dollar (AUD) is 800 Naira.

CBN EXCHANGE RATES

DOLLAR (USD) ₦1332.94

POUND (GBP) ₦1805.60

EURO (EUR) ₦1545.81

SWISS FRANC (CHF) ₦1647.84

CFA FRANC (XOF) ₦2.37

WEST AFRICAN UNIT OF ACCOUNT (WAUA) ₦1833.11

CHINESE YUAN (CNY) ₦198.36

SAUDI RIYAL (SAR) ₦355.01

SOUTH AFRICAN RAND (ZAR) ₦82.50

Nigeria’s GDP grew 4.43% in Q2 2026, says NBS

The bureau announced this in its latest GDP report for Q2 2026 , emphasising that the latest growth rate is higher than the 4.23 percent recorded in Q2 2025. That represents a 0.2 percentage-point increase year-on-year.

Published

16 hours ago

August 31, 2026

OCHEFA

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• President Bola Tinubu

The National Bureau of Statistics (NBS) said on Monday Nigeria’s economy grew by 4.43 percent in real terms in the second quarter of 2026.

The NBS GDP report tracks the performance of Nigeria’s economy across sectors. It is a key indicator for policymakers, businesses, and investors monitoring the country’s economic direction.

Business

Emzor Pharma raises N26.7bn bond to boost local drug manufacturing

The bond, issued through Emzor’s special purpose vehicle, Emzor Pharma Funding SPV Plc, carries a 19 percent coupon over a five-year tenor.

Published

23 hours ago

August 31, 2026

OCHEFA

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Image: Drugs manufacturing

Emzor Pharmaceutical Industries has raised a $19.8 million (N26.7 billion) Series 1 Fixed Rate Bond on the FMDQ Group Exchange.

The company is aiming to strengthen local pharmaceutical manufacturing and complete West Africa’s first full-scale anti-malarial Active Pharmaceutical Ingredient (API) manufacturing facility.

The bond, issued through Emzor’s special purpose vehicle, Emzor Pharma Funding SPV Plc, carries a 19 percent coupon over a five-year tenor.

It forms part of the company’s broader N40 billion ($29.6 million) bond issuance programme and represents Emzor’s second domestic bond, following strong investor demand that resulted in the issue being oversubscribed.

The funds are expected to support working capital, expand manufacturing capacity and accelerate the completion of the API facility.