News

Centre Calls for Resignation of CBN Governor Over High Exchange Rate

DailyTimesNGR DailyTimesNGR 19 January 2024 0

…says Cardoso clueless, cannot drive monetary policy The Centre for Social Justice, Equity, and Transparency (CESJET) has called on Olayemi Cardoso to resign as the Central Bank of Nigeria governor. In a statement signed by its Executive Secretary, Dr. Toyin Dawodu, the Centre described Cardoso

Business

As Nigerian banks brace up for new CBN capital base

DailyTimesNGR DailyTimesNGR 17 January 2024 0

Last year, the governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso announced to the banking community that Nigerian banks should brace up for a new capital base. Dominion Adebisi writes on the current status of leading banks and what is expected of other banks. The governor of apex banking regulating body, Cardoso had asked, […]

News

Angst in CBN over plans to relocate key departments to Lagos

DailyTimesNGR DailyTimesNGR 14 January 2024 0

BY BARTH EZE Palpable feeling of anger and dissatisfaction currently pervades the space at the Central Bank of Nigeria (CBN) following revelations of plans by the new management to relocate major departments from the Abuja headquarters to the former headquarters in Lagos. The decision which is being spearheaded by CBN Governor, Yemi Cardoso, has reportedly […]

Top Stories

Emefiele: CBN sacks MDs, Boards of four banks as Tinubu wields the big stick

DailyTimesNGR DailyTimesNGR 11 January 2024 0

….Union, Titan, Keystone, Polaris banks affected BY OSENI OMOTOLANI The Central Bank of Nigeria (CBN), has with immediate effect, sacked the entire Board of Directors of Polaris, Titan, Union and Keystone Banks. CBN sources said the decision was taken on Wednesday in Abuja at a meeting led by the apex bank’s governor, Yemi Cardoso. The […]

News

Alleged CBN looting: Lemon, largest foreign investors risk forfeiting TTB, UBN shares to FG

DailyTimesNGR DailyTimesNGR 28 December 2023 0

…as Special Investigator warns them of dire consequences of shunning today’s invitation Strong indications emerged on Wednesday night that the Chairman of Titan Trust Bank, Mr Tunde Lemo and two foreign shareholders of TTB and Union Bank, Messrs Cornelius Vink and Rahul Savara may lose their shares in the two banks if they shun Thursday’s […]

Business

CBN lifts ban on cryptocurrency transactions, issues new guidelines

DailyTimesNGR DailyTimesNGR 24 December 2023 0

By Motolani Oseni The Central Bank of Nigeria (CBN) has lifted the ban on cryptocurrency transactions in the country. This is contained in a circular titled ‘Circular to all Banks and other Financial Institutions Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPS)’ and dated December 22, 2023, with reference number

Business

CBN to increase banks’ capital base as FG targets $1trn economy

DailyTimesNGR DailyTimesNGR 26 November 2023 0

By Temitope Adebayo The Central Bank of Nigeria (CBN), Olayemi Cardoso, has said capital of Deposit Money Banks (DMBs) operating in the country would be increased, as part of efforts towards achieving the country’s $1 trillion economy plan. Nigeria’s central bank governor, made this known on Friday night while delivering his keynote address at the […]

Politics

House seek to amend CBN operational law

DailyTimesNGR DailyTimesNGR 10 November 2023 0

By Tom Okpe The House of Representatives has proposed amendment to the Central Bank of Nigeria, (CBN) Act, the Principal Act; which seeks to address several critical aspects of the Act in order to enhance effectiveness, transparency, and accountability of the apex bank and its operations. The Bill, ‘an Act to amend the CBN Act, […]

Top Stories

FX: Mixed reactions trail CBN’s readmission of 43 items after 8 years

DailyTimesNGR DailyTimesNGR 13 October 2023 0

…Negative implications for import substitution, local manufacturing -Prof Uwaleke …A move in the right direction, says Dr Yusuf By Motolani Oseni Mixed reactions have continued to trail yesterday’s readmission of the restricted 43 items into the Nigerian foreign exchange market by the Central Bank of Nigeria (CBN), as economists and industry experts expressed

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CBN special investigator’s report ready soon -FG

Ihesiulo Grace 26 September 2023 0

By Temitope Adebayo Federal Government yesterday said the report of audit of the Central Bank of Nigeria (CBN) by a Special Investigator would be out soon, admitting that most of the problems confronting Nigeria were caused by bad governance. The FG, however, scored the administration of President Bola Tinubu high for his sound decision to […]

Business

CBN postpones MPC meeting indefinitely

DailyTimesNGR DailyTimesNGR 22 September 2023 0

By Temitope Adebayo The Central Bank of Nigeria (CBN) has postponed the 293rd meeting of the Monetary Policy Committee (MPC). No reason was given by the apex bank which made the development was announced was made in a press release by the CBN spokesman, The Director of the Corporate Communications Department of the CBN, Dr […]

News

Refusal of sacked CBN chiefs to vacate office dangerous for Nigeria’s economy – Group

DailyTimesNGR DailyTimesNGR 19 September 2023 0

By Tunde Opalana An anti- corruption civil society group has decried the refusal of recently sacked executive officers of the Central Bank of Nigeria (CBN), notably the acting Governor and his deputies to vacate their offices after President Bola Tinubu named their successors. The Coalition for Transparency and Economic Reforms ( COTER), which raised the […]

Top Stories

Olayemi Cardoso: Emerging facts about new CBN governor

DailyTimesNGR DailyTimesNGR 16 September 2023 0

By Ukpono Ukpong President Bola Tinubu has approved the nomination of Dr. Olayemi Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate. This was contained in a statement signed by the Special […]

Business

CBN debunks plan to redenominate Naira

DailyTimesNGR DailyTimesNGR 13 September 2023 0

Urges Nigerians to disregard currency redenomination rumour By Temiyooe Adebayo The Central Bank of Nigeria (CBN) has denied plans to redenominate the naira, saying, the statement credited to it on the various social media platforms are fake. Messages making the rounds on social media platforms such as WhatsApp and Facebook claim that the CBN plans […]

Top Stories

Another CBN Deputy Gov arrested

Ihesiulo Grace 11 September 2023 0

Another Deputy Governor of the nation’s apex bank, Central Bank of Nigeria (CBN), was, yesterday, arrested by operatives of Department of State Services (DSS). Aisha Ahmad, who is in charge of Financial System Stability, was nabbed for questioning over her alleged involvement in a $300million transaction which pertained to suspected dubious acquisition of shares by

Business

CBN, other regulators, bankers, investors storm LIFF

Ihesiulo Grace 25 August 2023 0

The Central Bank of Nigeria (CBN) Bank of Industry (BoI) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) will lead a phalanx of financial regulators , bankers , investors and others to Lagos International Film Festival. According to the organizer of the event, this year edition of LIFF, will hold on August 30 […]

Business

CBN Probe: Experts want FG to engage audit firms

Ihesiulo Grace 6 August 2023 0

Following the appointment of a private investigator, Osayande Obaze to probe the Central Bank of Nigeria (CBN), some financial experts have advised the Federal Government to engage a consortium of audit firms to carry out such investigation. The stakeholders, who commented on the FG’s appointment of the former Chief Executive Officer of the Financial Reporting […]

News

CBN Raises Interest Rate to 18.75%

Ihesiulo Grace 25 July 2023 0

The Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR) to 18.75% from 18.5% in a move allegedly aimed at reducing inflation. POLITICS NIGERIA reports that the decision was made by the CBN’s Monetary Policy Committee (MPC) on Tuesday, following a meeting in Abuja. This marks the first decision of the monetary […]

Top Stories

CBN lifts restriction on $10,000 deposit for domiciliary account holders

Ihesiulo Grace 19 June 2023 0

By Motolani Oseni Central Bank of Nigeria (CBN) has lifted restrictions placed on cash deposits into domiciliary accounts of customers. To this end, domiciliary account holders in Deposit Money Banks (DMBs) shall have unfettered and unrestricted access to funds in their accounts. The directive is contained in a statement issued by the apex bank after […]

News

HoR jerk up FG’s loan from CBN to 15% as Katsina lawmaker kicks

Ihesiulo Grace 29 May 2023 0

By Tom Okpe Chairman, House Committee on Water Resources, Sada Soli, (APC, Kano) has kicked against the House of Representatives’ upward review of loan accessible to the Federal Government from the apex bank, Central Bank of Nigeria, (CBN) was moved from five to 15%. The House made the increase following passage of a bill for […]