Business

Petroleum products pricing: PPPRA engages CBN on Forex

Ihesiulo Grace 28 April 2020 0

The Petroleum Products Pricing Regulatory Agency (PPPRA) says it is engaging the Central Bank of Nigeria (CBN) to determine the applicable foreign exchange rates for the importation of petroleum products into the country. The PPPRA Executive Secretary, Abdulkadir Saidu, said in a statement

News

BREAKING: Fire outbreak at CBN office in Jos

Ihesiulo Grace 21 April 2020 0

A branch of the Central Bank of Nigeria (CBN) in Plateau State was involved in a fire incident on Tuesday, April 21, 2020. The apex bank announced on its Twitter account that its branch in Jos, Plateau’s capital city, witnessed a minor fire outbreak that was promptly contained. “Minor fire outbreak at the Jos branch […]

Business

ABCON wants CBN to establish repatriation window to boost BDCs, I&E FX liquidity

Ihesiulo Grace 21 April 2020 0

Due to the impact of the COVID-19 pandemic, which has led to the drop in crude oil prices and drastic cut in Nigeria’s foreign exchange earnings, the Association of Bureaux De Operators of Nigeria (ABCON) has advised the Central Bank of Nigeria (CBN) to establish a Voluntary Offshore Asset Repatriation Window to allow more foreign […]

Business

Importation ban: Over 1200 bags of foreign rice, other contraband seized

Ihesiulo Grace 8 April 2020 0

As part of the Central Bank of Nigeria (CBN) efforts in growing the nation’s agricultural sector to boost its foreign exchange earnings, the State Security Service (SSS, also called DSS) has seized 1,207 bags of foreign rice and other contraband materials during raids on warehouses. The State Branch Controller of the Central Bank of Nigeria […]

Business

CBN warns bank customers on cyber-attacks, fraud

Ihesiulo Grace 7 April 2020 0

The Central Bank of Nigeria (CBN) has warned bank customers on increased cyber-fraudsters that are taking advantage of the current COVID-19 pandemic to defraud citizens of their hard-earned money. The Director, Corporate Communications, CBN, Mr Isaac Okorafor in a statement on Monday said cyber-fraudsters are also stealing sensitive information, and gain unauthorized

Business Featured Top Stories

CACOVID relief fund hits N21.5bn — CBN

Ihesiulo Grace 7 April 2020 0

The Nigeria Private Sector Coalition Against COVID-19 (CACOVID) has so far realsied about N21.588 billion to help fight the COVID-19 pandemic. The update of the contribution as at April 6, was made known in a document released by Mr Isaac Okorafor, Director, Communications of Central Bank of Nigeria (CBN) in Abuja on Monday. The document […]

Opinion

How CBN, Banks, private sector players are fighting COVID-19

Ihesiulo Grace 6 April 2020 0

Recently, Mr. Godwin Emefiele, Governor of Central Bank of Nigeria (CBN), announced that the CBN, on behalf of the Bankers’ Committee, and in partnership with the private sector have come together to form the Nigerian Private Sector Coalition Against COVID-19. Under the plan, it was agreed that banks would contribute monies at 4 levels. UBA, […]

News

Provide details on COVID-19 relief funds, school feeding, SERAP asks FG, CBN

Ihesiulo Grace 5 April 2020 0

Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal Government and Central Bank of Nigeria (CBN) to “provide spending details of public funds and private sector donations to provide socio-economic benefits to the country’s poorest and most vulnerable people, including details of beneficiaries of any cash payments, cash transfers, food

Opinion

How CBN, Banks, private sector players are fighting COVID-19

Ihesiulo Grace 3 April 2020 0

Recently, Mr. Godwin Emefiele, Governor of Central Bank of Nigeria (CBN), announced that the CBN, on behalf of the Bankers’ Committee, and in partnership with the private sector have come together to form the Nigerian Private Sector Coalition Against COVID-19. Under the plan, it was agreed that banks would contribute monies at 4 levels. UBA, […]

Business

COVID-19: Give interest-free loans on your interventions, expert charges CBN

Ihesiulo Grace 2 April 2020 0

A renowned economist and financial expert, Uche Uwaleke has called on the Central Bank of Nigeria (CBN) to completely remove interest rates from all its Intervention programmes. Uwaleke said at this point where the virus has forced the total lockdown of businesses, it is important for CBN to consider zero interest rates to Nigerian businesses. […]

Business

CBN assures Nigerians of undisrupted financial services during lockdown

Ihesiulo Grace 1 April 2020 0

.Suspends cheque clearing The Central Bank of Nigeria (CBN) has assured Nigerians that financial services would be undisrupted during COVID-19 lockdown. This is even as it suspended the clearing of all cheque instruments in the Nigerian clearing system. The apex bank gave the assurance on its official twitter handle @cenbank, assuring the general public that […]

Covid-19 Featured Top Stories

COVID-19: CBN, Banks CEOs, Dangote to commit N8bn

Ihesiulo Grace 27 March 2020 0

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, President of Dangote Industries Limited, Aliko Dangote and six other top players in the banking, industrial, Oil & gas sectors have set up a funding committee to contribute at least N1 billion each to the Nigerian Private Sector Coalition Against Covid-19. Other members of […]

Business

COVID-19: CBN grants two-week market holidays to BDCs

Ihesiulo Grace 27 March 2020 0

…as ABCON advises forex users to shun street traders The Central Bank of Nigeria (CBN) has granted a two week market holidays to the Bureaux De Change operators. This followed a request by the Association of Bureaux De Change Operators of Nigeria to the CBN for the regulator to grant it market holidays given the […]

Business

CBN to remain operational amid fight against Coronavirus

Ihesiulo Grace 26 March 2020 0

The Central Bank of Nigeria (CBN) has said its branches across the country will remain operational amid widespread of Coronavirus in the country. Nigeria has reported 46 cases of Coronavirus with Lagos state topping the chart with 30 active patients. The Director, Corporate Communications, Mr Isaac Okorafor, in a statement on Tuesday obtained by Western […]

Business

Investors profit-taking in Banks shares, others down equities market by N1.85trn

Ihesiulo Grace 16 March 2020 0

Amidst global economy uncertainties and looming fear of Central Bank of Nigeria (CBN) devaluing naira, the share prices of most capitalised banks, other shares recorded surge investors profit-taking, leading to equities market dropping by N1.85trillion last week. The equities market opened for trading at N13.695trillion, dropping 13.5per cent to close on last Friday at

Business

Naira rebounds from speculated N420 per USD to N380.00/$1

Ihesiulo Grace 16 March 2020 0

…Stables at N306.95 /$ at CBN official rate The Nigerian currency, naira rebounded from the speculated rate of over N400 per United State Dollar traded during last week to close at an improved rate of N380 to the dollar at the parallel market. Although, the local currency still remained under pressure as it weakens by 5.3per cent […]

Business

AERC, CBN collaborate to tackle nutrition, food challenges at senior policy seminar

Ihesiulo Grace 16 March 2020 0

Food and nutrition security dominated discussions at the just concluded Senior Policy Seminar hosted by the African Economic Research Consortium, AERC, in partnership with the Central Bank of Nigeria (CBN). The two-day conference, which held from March 9 to 10, 2020, and was supported, by the Bill and Melinda Gates Foundation, had the theme: ‘Agriculture […]

Business

Market unfavourable for Naira devaluation -CBN

Ihesiulo Grace 13 March 2020 0

The Central Bank of Nigeria (CBN) says market fundamentals do not support Naira devaluation this time around. The CBN made this known in a statement by the bank’s Director, Corporate Communications, Mr Isaac Okorafor in Abuja on Friday. Okorafor expressed dismay at speculative activities at the foreign exchange market from impressions that the CBN would […]

Business

CBN has not devalued Naira, to invoke sanctions on speculators

Ihesiulo Grace 13 March 2020 0

Motolani Oseni The Central Bank of Nigeria has said that it has not devalued the Naira and warned currency speculators and their collaborators that  the apex bank will invoke the full weight of applicable sanctions on any persons and authorised dealers found to be involved in such disruptive and speculative market behaviour The CBN in […]

Business Featured

Nigerian economy on a positive growth — CBN

Ihesiulo Grace 11 March 2020 0

Abuja – The Central Bank of Nigeria (CBN) says the aggregate industry credit has risen from N15.3 trillion in May 2019 to about N17.4 trillion in January 2020. The CBN Governor, Mr Godwin Emefiele, disclosed this at a consultative roundtable meeting organised by the Bank in Abuja on Wednesday. The roundtable has as its theme, […]