Business Top Stories

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,

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 Top Stories

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

Business

CBN, FIRS, stakeholders meet to marshal blueprint on FSS 2020

Ihesiulo Grace 4 December 2017 0

The Central Bank of Nigeria (CBN) and other agencies involved in the implementation of the Financial System Strategy (FSS 2020), will converge on Lagos this week to mark ten years of strategising to bring into existence the Financial System Strategy 2020. The objective of the event, which is billed for the Radisson Blu Hotel, Victoria […]

Business

NAHCOs CEO, Yakubu, promises firms turnaround

Ihesiulo Grace 1 December 2017 0

The Managing Director/Chief Executive Officer, Nigerian Aviation Handling Company Plc (nahco aviance), Mr. Idris Yakubu, has promised to lead the attitudinal change and a fresh drive for excellence that the Company requires to move it to the next level. Speaking when he held his maiden meeting with workers at the Head Office of the Company, […]

Business Top Stories

CBN injects $210m to boosts Forex market

Ihesiulo Grace 29 November 2017 0

The Central Bank of Nigeria (CBN) on Tuesday, announced the injection of another $210,000,000million to boost liquidity in the inter-bank Foreign Exchange Market. Disclosing this in Abuja, the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor said the sum of $100m was offered to the wholesale segment, while the Small and Medium Enterprises

Business

Central Bank of Nigeria to auction N117bn treasury bills Nov 30

Ihesiulo Grace 28 November 2017 0

Nigeria plans to sell N117.17 billion worth of treasury bills at an auction on Thursday, Nov. 30, according to the Central Bank of Nigeria’s Treasury Bills Issuance Calendar, seen by Businessamlive. Specifically, the CBN would offer N26.14 billion in three-month paper, N11 billion in six-month bill and N80.03 billion in one-year note. The results of […]

News

119 people benefit from Anchor Borrowers scheme in Akwa Ibom

Ihesiulo Grace 22 November 2017 0

No fewer than 119 people have benefited from the first batch of the Central Bank of Nigeria, (CBN) sponsored anchor borrowers programme, poultry component in Akwa Ibom State. The head of development finance of CBN, Uyo office, Mr Okoidegun Emmanuel announced this in Uyo on Tuesday during the official launching of the programme and disbursement […]

Business News Top Stories

MPC retains lending rate at 14% to consolidate forex gains, macro-economic reforms

Ihesiulo Grace 22 November 2017 0

In an effort to consolidate on the mileage recorded by the nation’s economy and deepen its impact, members of the Monetary Policy Committee( MPC) of the Central Bank of Nigeria(CBN), on Tuesday, voted to retain the monetary rate at the end of its meeting for 2017. Consequently, the MPC retained the Monetary Policy Rate (MPR) […]

Business

Biometrics To Replace Atm’s Soon – CBN

Ihesiulo Grace 21 November 2017 0

The Central Bank of Nigeria (CBN) says biometrics will soon be used for transactions on the automated teller machine (ATM). Pin codes are currently being used. Dipo Fatokun, chairman, Nigeria Electronic Fraud Forum (NeFF) and CBN director of banking and payment system, made this statement at 2017 annual retreat of the Nigeria Electronic Fraud Forum […]

Business

Naira rebounds as CBN lifted forex market with $210m

Ihesiulo Grace 21 November 2017 0

….FG welcomes latest GDP growth of 1.40% in Q3 The Nigerian currency, Naira, on Monday, rebounded at the official foreign exchange market, just as the Central Bank of Nigeria (CBN) lifted the forex market with total injection of $210 million. In a clear indication of ongoing progress, the Nigerian economy has improved further, according to […]

Business News

CBN Orders Banks To Submit All Accounts Without BVN

Ihesiulo Grace 13 November 2017 0

Shortly after the November 3 deadline given by the court, commercial banks had started the compilation of bank accounts without the BVN. If your account has no bank verification number, you have officially courted trouble with the financial service authorities. The Central Bank of Nigeria has written a letter to the Deposit Money Banks in […]

Business Top Stories

FG, CBN, DMO reject Moody’s downgrade of sovereign rating

Ihesiulo Grace 9 November 2017 0

. Nigeria, one of top 10 most improved economies- World Bank .CBN expands Anchor Borrowers’ Programme .Targets extra 2m tonnes from 300,000 rice farmers The Federal Ministry of Finance (FMF), the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO), have vehemently rejected the downgrade of Nigeria’s rating by Moody from a B1 […]

News Top Stories

Beware of fake website, CBN warns public

Ihesiulo Grace 2 November 2017 0

Mathew Dadiya, Abuja The Central Bank of Nigeria (CBN) said that its attention had been drawn to a scam being perpetrated by some fraudulent persons whereby unsuspecting members of the public are diverted to a fake website purportedly belonging to the Central Bank of Nigeria (CBN). The CBN warned that “there is the danger of […]

Business Capital Market News

We Won’t Obey CBN’s BVN Directive – Bank CEO

Ihesiulo Grace 24 October 2017 0

The Chief Executive Officer of a commercial bank has said that he and his colleagues will be unable to obey the directive of the Federal Government to forfeit customers funds in accounts without the Bank Verification Numbers The Chief Executive Officer of a commercial bank has said the directive by the CBN is not feasible. […]

Business News Top Stories

BVN: Groups back court, allege banks complicit in illicit money

Ihesiulo Grace 24 October 2017 0

Respect individual customer’s rights – Lawyer Motolani Oseni, Adesola Afolabi, Lagos As expected, sharp reactions have continued to trail the recent directives by the Federal High Court, Abuja, ordering the Central Bank of Nigeria (CBN), and the Deposit Money Banks (DMBs) in the country to freeze all accounts in their custody and the balances therein […]

News Top Stories

More Bank Accounts To Be Shut As CBN Issues Strict BVN Rules

Ihesiulo Grace 20 October 2017 0

Banks will soon crack down on customer’s accounts following new directives from the Central Bank of Nigeria (CBN) yesterday, on Bank Verification Number (BVN) operations and watch-list for the banking industry. Records from the NIBSS show that there were about 45.85 million total bank accounts unlinked, but when compared with the active accounts the number […]