Business

CBN May Not Cut Rates To Keep Foreign Investors-Ebo

Ihesiulo Grace 27 January 2018 0

In spite of expressed optimism by the governor of the Central Bank of Nigeria (CBN) that the bank will begin a gradual cut in monetary policy rates by the end of the second half of the year, the Chief Executive of Afrinvest Securities Limited, Ayodeji Ebo says a rate cut will be unlikely due to

Headlines

Central bank of Nigeria hints of possible rate cut in H2 2018 on easing inflation

Ihesiulo Grace 24 January 2018 0

Godwin Emefiele, Nigeria’s central bank governor indicated Wednesday, January 24, 2018 that there could be an interest rate cut before July this year as inflation rate continues its decline. “I want to think that between the end of the first and second quarter, we should begin to see easing,” Emefiele said, adding that once inflation […]

Headlines News

CBN disowns Emefiele Twitter Handles

Ihesiulo Grace 11 January 2018 0

The Central Bank of Nigeria (CBN) has disowned a purported Twitter handles linked to the CBN Governor, Mr. Godwin Emefiele, describing them as fake. The CBN pointed out that the Twitter handles bearing the name and photograph of Emefiele were fake and targeted at misleading unsuspecting members of the public. The Acting Head, Corporate Communications, […]

Business

How BDC operators dump CBN’s window for parallel market

Ihesiulo Grace 10 January 2018 0

New facts have emerged on how the Bureaux De Change Operators in Nigeria are currently shunning the Central Bank of Nigeria’s (CBN’s) Foreign exchange (forex) market for a more profitable parallel market rate, findings by The Daily Times have revealed. Before now, Association of Bureaux De Change Operators of Nigeria (ABCON) has several times, called […]

Business

Nigeria’s economic expansion persist rapidly in December — CBN

Ihesiulo Grace 4 January 2018 0

The Central Bank of Nigeria, CBN yesterday released its Purchasing Managers Index (PMI) survey for December which indicated continuous rapid expansion of economic activities during the month. The report showed that the Manufacturing PMI and Non-Manufacturing PMI rose to the highest level in more than three years. While the Manufacturing PMI rose to 59.3 percent […]

Headlines News

External reserves gain $12.9bn in 1 year despite FX intervention

Ihesiulo Grace 1 January 2018 0

…Nigeria’s reserves rise to $38.73bn …Inflow from Diaspora remittances contributes to forex reserves As 2017 winds down giving way to 2018, Nigeria’s external reserves have recorded total gain of nearly 50 per cent or $12.9 billion in one year, despite continuous interventions by the Central Bank of Nigeria (CBN) in recent times to support the […]

News Nigeria

CBN, RIFAN collaborate to crash price of rice

Ihesiulo Grace 28 December 2017 0

The National President, Rice Farmers Association of Nigeria (RIFAN), Alhaji Aminu Goronyo, has assured Nigerians that the market prices of locally produced rice will soon crash. Goronyo who made this known Wednesday in Abuja, also said that the price of a 50kg bag of locally produced rice would plummet from N18, 000 to between N6,500 […]

News

CBN refutes allegation of $5bn diversion, says it’s not possible

Ihesiulo Grace 22 December 2017 0

The Central Bank of Nigeria (CBN) has denied allegations by the House of Representatives that it did nit 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 […]

Headlines Politics

Reps accuse CBN of not remitting $5bn into federation account

Ihesiulo Grace 21 December 2017 0

*Set up ad hoc c’ttee to probe infraction The House of Representatives on Wednesday accused the Central Bank of Nigeria of non-remittance of over $5 billion into the federation account and has resolved to set up an ad hoc committee to investigate the alleged infraction by the apex bank. The ad hoc committee is expected […]

Tech

9mobile Sale: No room financially, technically deficient coys – NCC

Ihesiulo Grace 19 December 2017 0

The NCC has insisted that there is no going back on the handover of 9Mobile to the preferred bidder, adding that technically and financially unstable company stand no chance. This was made known by the Executive Vice Chairman of NCC at the 82nd edition of Telecoms Consumers Parliament in Abuja recently. Dambatta confirms that five […]

Business News

Heritage Bank receives CBN’s ‘Sustainable Banking Award’ in agric

Ihesiulo Grace 19 December 2017 0

Heritage Bank Plc, Nigeria’s Most Innovative Banking Service Provider has been bestowed with the inaugural Nigeria Sustainable Banking Award convened by the Central Bank of Nigeria (CBN) “For Sustainable Transaction of The Year in Agriculture.” The award, which was in recognition of its outstanding success and leadership in Nigeria’s sustainable development in 2017 was

Agriculture Nigeria

Edo govt, CBN devote N500m to de-risk agric investments

Ihesiulo Grace 14 December 2017 0

The Edo State Government in collaboration with the Central Bank of Nigeria, CBN, has initiated a N500 million Commercial Agricultural Credit Scheme, CACS, to de-risk investments in agriculture in the state. This was disclosed in a statement on Friday by the Special Adviser on Media to the Governor of Edo State, Crusoe Osagie. The statement […]

Business

Market operators demand single license from CBN, SEC

Ihesiulo Grace 11 December 2017 0

To facilitate a more robust and deeper financial market, operators in the Nigerian capital market have urged the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to grant them single dealing lincense to access Discount Window. The operators are currently being regulated by the Securities and Exchange Commission and they are […]

Business

Market operators demand single license from CBN, SEC

Ihesiulo Grace 11 December 2017 0

To facilitate a more robust and deeper financial market, operators in the Nigerian capital market have urged the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to grant them single dealing lincense to access Discount Window. The operators are currently being regulated by the Securities and Exchange Commission and they are […]

Business Headlines

N220bn MSMED fund: Ambode urges CBN to cut interest rate, boost finance

Ihesiulo Grace 11 December 2017 0

In order to change lack of access to credit by Nigeria’s small business owners, Governor of Lagos state, Akinwunmi Ambode, has called on the Central Bank of Nigeria (CBN) to release N220 billion Micro, Small and Medium Enterprises Development (MSMED) fund to states at five per cent, saying, government policies are stifling growth of the […]

Business

Forex restriction on 41 items yields results

Ihesiulo Grace 8 December 2017 0

The Central Bank of Nigeria (CBN) has said that restriction of access to Foreign Exchange (Forex) on the 41 items has had a positive impact on the economy. The Acting Director, Corporate Communications Department of the Bank, Mr. Isaac Okorafor, stated this on Friday at the CBN Fair and a sensitization programme held at the […]

Business

CBN lifts forex market with $210m

Ihesiulo Grace 6 December 2017 0

The Central Bank of Nigeria (CBN) on Tuesday opened the foreign exchange market with the injection of another 210 million dollars to sustain liquidity. The Acting Director, Corporate Communications Department, CBN, Isaac Okorafor in a statement, said 100 million dollars was offered to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment got […]

News

CBN urges youth to take advantage of Agric, SME initiative to curb restiveness

Ihesiulo Grace 6 December 2017 0

The Head of the Central Bank of Nigeria (CBN) Fair and Acting Director, Corporate Communications Department of the Bank, Mr. Isaac Okorafor, has urged Nigerians to take advantage of the various development initiatives of the Central Bank of Nigeria (CBN) in agriculture and Small and Medium Enterprises (SME) to curb youth restiveness. Okorafor said this […]

Business

Produce what you sell, CBN advises traders

Ihesiulo Grace 5 December 2017 0

The Central Bank of Nigeria (CBN) has advised traders to change from selling finished mechanize products to producing what they sell. The Acting Director, Corporate Communications Department of the Bank, Mr. Isaac Okorafor, said this on Monday to traders at Mile One Market during the CBN sensitization fair holding in Port-Harcourt, Rivers State. Okorafor said […]

Business Headlines

Revealed: How CBN’s scheme boosts agriculture with N104bn in 38 years

Ihesiulo Grace 4 December 2017 0

As part of efforts in diversifying the Nigerian economy, the Central Bank of Nigeria (CBN) under the Agricultural Credit Guarantee Scheme Fund (ACGSF) has granted 1,059,847 individual, informal group, co-operatives and company farmers N104billion loans since its inception in 1978, information available to The Daily Times has revealed In our fact findings, it was revealed