The Central Bank of Nigeria says Small and Medium Enterprises are critical for the development of any economy, but access to finance remains a key hurdle in achieving their potential.

Nigeria’s central bank on Monday asked commercial banks to submit a backlog of dollar demand for fuel importers for a special intervention. Traders say the government is seeking to prevent the scarcity of petrol.

Persistently high interest rates, acute forex shortage and an increasingly difficult operating environment have further squeezed margins and led to mass job losses across the country.

As the second quarter earnings season winds down, a big takeaway has been the impact of the devaluation of the naira on corporate Nigeria.

Nigeria's central bank last week stepped up its efforts to mop up liquidity in the banking system by issuing over N100 billion OMO T-bills two weeks before the November monetary policy committee meeting.

The Central Bank of Nigeria held an OMO T-bills auction on Thursday, selling N19 billion and N98 billion on the 196-day and 364-day bills.

It's a tough time for banks in Nigeria. Ahead of the November Monetary Policy Committee meeting, Ejikeme Okoli, Research & Market Intelligence Officer joins CNBC Africa discuss how the MPC can help the banks.

Persistent liquidity mop up by the Central Bank of Nigeria continues to dampen demand at the fixed income markets.