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Slash ATM withdrawal fee to N35- CBN directs Banks

Ihesiulo Grace 22 December 2019 0

The Central Bank of Nigeria on Sunday reduced the withdrawal fee charged for the use of other banks’ Automated Teller Machines from N65 to N35. The N35 ATM fee according to the CBN should be imposed on customers after the third withdrawal within one month. Breaking: Veteran Yoruba actor, Alabi

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Expert tasks CBN domestic capacity to hedge inflation

Ihesiulo Grace 20 December 2019 0

Lagos – An economist, Mr Moses Igbrude, has advised the Central Bank of Nigeria (CBN) to enhance domestic capacity to hedge the rising inflation. Igbrude, the Chief Executive Officer of Ogu Investment, who spoke on Friday in Lagos, advised the monetary authorities to improve domestic capacity by supporting the real sector. “The apex bank must […]

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CBN threatens to suspend accounts of saboteurs, smugglers

Ihesiulo Grace 18 December 2019 0

Benin – The Central Bank of Nigeria (CBN) on Tuesday threatened to suspend the account of any person hiding under the ECOWAS Trade Liberalisation Scheme to sabotage  the federal government’s investment in reviving the palm oil sector. The Governor of the Bank, Mr Godwin Emefiele, made this known during inauguration of the Edo oil palm […]

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Emefiele attributes Nigeria’s economic growth to CBN’s policy measures

Ihesiulo Grace 14 December 2019 0

Ogun – Dr Godwin Emefiele the Governor of Central Bank of Nigeria (CBN), has attributed the country’s economic growth to series of policy measures put in place by the apex bank. Emefiele made the assertion at the 11th Annual Bankers Committee Retreat with theme: “Delivering Inclusive Growth: Leveraging Digital Finance” in Ogere, Ogun State. The […]

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Refund to bank customers stand at N76.7bn, $20.9m -CBN

Ihesiulo Grace 12 December 2019 0

Yola – The Central Bank of Nigeria (CBN) says the worth of money refund to bank customers as at Nov. 30 stood at N76.75 billion and 20.90 million dollars. Mr Kofo-Abdulsalam Alada, the Director, Consumer Protection Department (CPD) of CBN, said this at a workshop for business editors and members of the Finance Correspondents Association […]

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CBN expects 2.38% GDP growth by Q4

Ihesiulo Grace 10 December 2019 0

The Central Bank of Nigeria (CBN) expects to achieve 2.38 per cent Gross Domestic Product (GDP) growth rate in the fourth quarter of this year. Dr Hassan Mahmoud, the Deputy Director, Financial Policy and Regulation Department in CBN, said this in Yola at the 2019 workshop for financial journalists sponsored by the Nigeria Deposit Insurance […]

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Our unconventional monetary policies have created over 2.5m jobs – CBN

Ihesiulo Grace 4 December 2019 0

Owerri – The Central Bank of Nigeria (CBN) says its unconventional monetary policies have supported the creation of over 2.5 million jobs across the agricultural value chain. The CBN Governor, Mr Godwin Emefiele made this known in a keynote address he delivered at the 28th Annual Seminar for Finance Correspondents and Business Editors held in […]

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CBN injects $323.5m, CNY 17.9m into forex market

Ihesiulo Grace 30 November 2019 0

Abuja – The Central Bank of Nigeria (CBN) has injected 323.5million dollars into the retail Secondary Market Intervention Sales (SMIS) for its last intervention for November. The CBN Director, Corporate Communications Department, Mr Isaac Okorafor, made this known in a statement in Abuja. Okorafor said the bank also intervened with CNY 17.9million in the spot […]

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Financial Inclusion: CBN wants increased MMO agents across Nigeria

Ihesiulo Grace 28 November 2019 0

The Central Bank of Nigeria (CBN), on Wednesday urged Mobile Money Operators (MMOs), to improve and increase agents footprint across the country to bring the service closer to the excluded. The Director, Payment Systems Management, Mr Samuel Okojere, made the call at the second edition of the Association of Licensed Mobile Payment Operators (ALMPO) conference […]

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Experts predict retention of monetary rates ahead MPC meeting

Ihesiulo Grace 25 November 2019 0

Ahead of the last Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN) for 2019, financial experts have predicted retention of major economic parameters. At the close of the last meeting, MPC members voted to hold all parameters of the monetary indices – meaning the retention of anchor lending rate, (Monetary Policy […]

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CBN in moves to create 10m jobs annually

Ihesiulo Grace 22 November 2019 0

Abuja – Mr Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN) says if Governors and private sectors collaborate with the bank to boost agriculture and industries, the country will generate 10 million jobs yearly. Emefiele said this during a meeting with governors of Cassava Producing States in Abuja on Thursday. CBN also signed […]

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NECA raises concerns over CBN’s directive to banks on lending

Ihesiulo Grace 16 November 2019 0

Lagos – The Nigeria Employers’ Consultative Association (NECA), has raised concerns over the Central Bank of Nigeria’s (CBN) directive to banks on lending, saying it could pose a risk to financial stability. NECA’s Director-General, Mr Timothy Olawale, who raised the concerns in a statement on Saturday in Lagos said that effective monitoring mechanism should be […]

Agriculture Business

Edo can generate 200,000 jobs from palm oil – CBN Gov.

Ihesiulo Grace 1 November 2019 0

The Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele says Edo can generate more than 200,000 jobs and millions of dollars in foreign exchange from supporting cultivation and processing of palm oil. Emefiele, said this at the first convocation lecture of Edo State University, Iyamho, Auchi, on Friday. In his lecture entitled “The Role of […]

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CBN’s unconventional policy to grow economy paying off – Emefiele

Ihesiulo Grace 1 November 2019 0

Abuja – Central Bank of Nigeria (CBN) Governor, Godwin Emefiele says ensuring price stability and growing the nation’s economy through unconventional policy is paying off. Emefiele stated this at the first Convocation Lecture of Edo University, Iyamho, Auchi on Friday. The governor said in spite of the criticism from certain quarters the bank would not […]

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Ondo partners CBN, SMEDAN to train 360 youths on entrepreneurship

Ihesiulo Grace 29 October 2019 0

The Ondo state government in conjunction with Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Central Bank of Nigeria (CBN) has started training over 360 youths on different business enterprise. The three-day entrepreneurship programme organised by the Ministry of Youths and Sports Development with SMEDAN started on Monday and would end on

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Consumer overall confidence rises – CBN

Ihesiulo Grace 23 October 2019 0

The Central Bank of Nigeria (CBN) has said consumers’ overall confidence outlook rose in the third quarter (Q3) 2019, as more consumers were optimistic in their outlook. The “Consumer Expectations Survey report” that was released on Tuesday noted that the index at 3.8 points was 2.3 points higher than the index in the corresponding period of […]

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CBN budget, 10% size of Nigeria’s budget, says NFIU boss

Ihesiulo Grace 23 October 2019 0

.As NFIU demands CBN condition of service .Lawan promises legislative support to EFCC, ICPC in fighting corruption It was revealed on Tuesday that the budget of the Central Bank of Nigeria (CBN) is about one – tenth the size of the total budget of the country. While the Federal Government budgeted a sum of N10.33 […]

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CBN says no to MTN’s plan to charge for USSD transactions

Ihesiulo Grace 21 October 2019 0

Washington – The Central Bank of Nigeria (CBN) has opposed plans by MTN to charge their subscribers for Unstructured Supplementary Service Data (USSD) access to banking services from Oct. 21. This came as the minister of communications, Isa Pantami, has directed the Nigerian Communications Commission (NCC) to work with the telecommunications service providers to

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Forex intervention: CBN injects $325.5m into retail market

Ihesiulo Grace 19 October 2019 0

Abuja – The Central Bank of Nigeria (CBN) has injected 325.5million dollars in the retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short tenored forwards segment of the inter-bank foreign market. The bank’s Director, Corporate Communications, Mr Isaac Okorafor made this known in a statement in Abuja on Friday. Okorafor explained

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CBN directs farmers not to hike price of rice

Ihesiulo Grace 15 October 2019 0

The Central Bank of Nigeria (CBN) has directed rice farmers in the country not to hike the price of the product as a result of the border closure. In a statement in Abuja on Monday, the Governor of CBN, Mr. Godwin Emefiele, urged members of the Rice Millers Association of Nigeria (RIMAN) and other stakeholders […]