By Tunde Opalana The Senate on Tuesday inched closer to striping the CBN Governor of the Board Chairmanship role as a bill tailored towards an amendment to the CBN Act scaled second reading at plenary. The Bill sought to amend CBN Act No. 7 of 2007 which allows any incumbent Governor of the apex bank […]
Philip Clement, Abuja The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says the Bank’s decision to prohibit deposit money banks, non-banking institutions, and Other Financial Institutions from facilitating trading and dealings in cryptocurrency is in the best interest of Nigerian depositors and the country’s financial system. Mr. Emefiele stated this in Abuja on […]
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained Monetary Policy Rate (MPR) at 13.5 per cent and maintained other policy parameters constant. CBN Governor, Godwin Emefiele, stated this in a communique issued at the end of the 272nd MPC meeting in Abuja on Tuesday. Ekiti to diversify economy through […]
The Central Bank of Nigeria (CBN) has denied allegations by the House of Representatives that it did not remit over $5 billion into the Federation Account describing the issue as “feign imagination.” The House had on Wednesday accused the CBN of non-remittance of over $5 billion into the federation account and has resolved to set […]
The Central Bank of Nigeria is on its way to systematic convergence in the foreign exchange market. On Monday, the apex bank weakened the Naira marginally, selling dollars at 307 Naira each for the first time on the official interbank market. The bank has sold $500,000 almost on daily basis on the official spot market […]
* Woos Nigerian youth to embrace CBN initiatives The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has challenged the graduating students of University of Nigeria, Nsukka (UNN) to take advantage of the present challenges confronting the country to become job creators in the economy. Emefiele gave the charge on Thursday while delivering the […]
Kemi Adeosun, minister of finance, has urged the Central Bank of Nigeria (CBN) to extend bank verification number (BVN) requirement to account holders in microfinance banks. She said this would facilitate the detection of bank accounts which might have been opened and operated by ghost workers and other syndicates. Salisu Dambatta, director of information in […]
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its first meeting of fiscal 2017 on 23rd and 24th January 2017 against the backdrop of economic developments. Over the last few weeks the pillars of the global old order – free trade, multilateralism, and globalization have come under intense pressure, and […]