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DSS probe CBN chief Emefiele

Ihesiulo Grace 20 December 2022 0

The move by the Department of State Services (DSS) to arrest Central Bank of Nigeria (CBN) Governor, Godwin Emefiele may cause a further slip of the naira against the dollar. In the suit, FHC/ABJ/CS/2255/2022, the security agency asked the Federal High Court in Abuja permission to take Emefiele

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Cashless Policy: All concerns will be taken care of – CBN

Ihesiulo Grace 10 December 2022 0

…convinces Senate Panel on cash withdrawal limits By Tunde Opalana The Central Bank of Nigeria (CBN) has promised to take care of concerns being raised by Nigerians on the implementation of the cashless policy. This is as the apex bank on Friday convinced a Senate panel that the N100,000 and N500,000 weekly cash withdrawal limits […]

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FG docks 3 lawyers for impersonating CBN, Unity Bank in N52m Garnishee proceeding

Ihesiulo Grace 9 December 2022 0

By Andrew Orolua The Federal Government has charged a legal activist Maxwell Opara and two other Abuja-based legal practitioners before a High Court of the Federal Capital Territory, FCT, Abuja on a four-count criminal charge for false information with intent to mislead the Court of Appeal into entering a consent judgment in their favour. The […]

Business

Ahmad, Lametek get Presidential nod as Deputy Governors, CBN for Second Term

Ihesiulo Grace 8 December 2022 0

By Temitope Adebayo President Muhammadu Buhari has reappointed Mrs Aishah Ndanusa Ahmad, Deputy Governor, Financial System Stability, Central Bank of Nigeria and Edward Lametek Adamu, Deputy Governor, Corporate Services, Central Bank of Nigeria to serve second terms at the apex bank. In a letter read by Senate President Ahmad Lawan on the floor of the […]

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CBN, AMCON, other financial stakeholders back NDIC amendment bill 2022

Ihesiulo Grace 8 December 2022 0

By Temitope Adebayo The Central Bank of Nigeria (CBN), Asset Management Corporation of Nigeria (AMCON), and many other stakeholders in the financial sector have thrown their weight behind the Nigerian Deposit Insurance Corporation (NDIC) amendment bill 2022. Other stakeholders, who have, also, supported the bill include; the Economic and Financial Crimes Commission (EFCC),

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CBN imposes cash withdrawals limits of N100,000 a week

Ihesiulo Grace 7 December 2022 0

By Temitope Adebayo The Central Bank of Nigeria (CBN) has imposed fresh cash withdrawal limits of N100,000 on individuals and N500,000 for organisations, which takes effect from January 9, 2023. According to a new memo to banks issued on Tuesday and signed by the Director of Banking Supervision, Haruna .B. Mustafa, individuals will only be […]

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CBN releases guidelines for licensing of banks, other financial institutions

Ihesiulo Grace 1 December 2022 0

The Central Bank of Nigeria (CBN) has released guidelines for licensing banks and other financial institutions. The apex bank said, “it is for use by individuals and entities applying for licence to operate as banks or other financial institutions.” The guideline is under the auspices of the Anti-Money Laundering, Combating The Financing of Terrorism, and […]

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We’ll will remain focused on objectives of price, monetary, exchange rate stability- CBN Gov

Ihesiulo Grace 28 November 2022 0

By Motolani Oseni The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the Monetary Policy Committee (MPC) will remain focused on the objectives of price, monetary, and exchange rate stability. Emefiele, who also, insisted that there is no going back on the CBN’s January 31st, 2023 deadline to phase out the […]

Business

IFIC’22: Nigeria convenes global stakeholders to accelerate financial inclusion

Ihesiulo Grace 21 November 2022 0

By Motolani Oseni The National Financial Inclusion Steering Committee headed by the Central Bank of Nigeria (CBN) will host Nigeria’s maiden International Financial Inclusion Conference (IFIC’22) on the 24th and 25th of November 2022 in Abuja, Nigeria. The international financial inclusion conference which was themed; “Financial Inclusion for all: Scaling Innovative

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Planned Naira redesign: CBN has my backing – Buhari

Ihesiulo Grace 31 October 2022 0

By Ukpono Ukpong, and Motolani Oseni President Muhammadu Buhari yesterday said that the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes had his support and is convinced that the nation will gain a lot by doing so. Speaking in a Hausa radio interview which is […]

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CBN explains the economic, security, other benefits of planned Naira redesign

Ihesiulo Grace 30 October 2022 0

By Motolani Oseni In a swift response to the claims by the Minister of Finance, Budget and National Planning, Zainab Ahmad, that her ministry was not carried along in the ongoing process of redesigning three series of the Naira, the Central Bank of Nigeria (CBN), over the weekend explained various political, security and economic benefits […]

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CBN, NIBSS to introduce national card scheme

Ihesiulo Grace 24 October 2022 0

The Central Bank of Nigeria (CBN) and Nigeria Inter-Bank Settlement Systems (NIBSS) Plc, in conjunction with the Bankers’ Committee, will soon float a national card scheme to improve the payment system in Nigeria. Mr Premier Oiwoh, Managing Director, NIBSS, said this at a Bankers’ Committee press briefing on Thursday. He said the scheme, which had […]

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CBN halts foreign banks from deposit collection

Ihesiulo Grace 17 October 2022 0

By Temitope Adebayo The Central Bank of Nigeria (CBN) has barred foreign banks operating in Nigeria from receiving deposits locally, according to an exposure draft posted on its website. In the guideline signed by Director, Financial Policy & Regulation Department, Chibuzo Efobi, the apex bank said licensed foreign operators will not be allowed to provide […]

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CBN’s Treasury Bills sale exceeds target by 24%, hits N554bn

Ihesiulo Grace 4 October 2022 0

By Temitope Adebayo The Central Bank of Nigeria (CBN) sold treasury bills worth about N554 billion in September 2022, according to its primary market auction results. The amount of Treasury instruments sold exceeds the apex bank target by 24.1 per cent, Afrinvest said in a market note. At the primary market auction last week, the […]

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Our aggressive monetary policy in line with global trends, says CBN

Ihesiulo Grace 29 September 2022 0

By Temitope Adebayo The Central Bank of Nigeria (CBN) has said its aggressive monetary policy is in line with global trends and is targeted at slowing inflation which crossed over to 20.5 per cent in August this year. This is even as the apex bank noted that in line with its aggressive stance towards curbing […]

Business

MPC: Interest rate hike‘ll attract forex inflows, ease inflation pressure-Experts

Ihesiulo Grace 28 September 2022 0

By Motolani Oseni As widely projected, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), on Tuesday hiked the benchmark interest rate to 15.5 per cent, a development that some finance analysts described as a way to lure foreign inflows into the country and ease the inflation pressure. The MPC of the […]

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Airlines: CBN releases $265m to settle outstanding ticket sales

Ihesiulo Grace 27 August 2022 0

The Central Bank of Nigeria (CBN), on Friday, released the sum of 265 million dollars to airlines operating in the country to settle outstanding ticket sales. According to a statement issued by the Director, Corporate Communications Department of CBN, Mr Osita Nwanisob, the gesture is aimed at checking the crisis in the country’s aviation sector […]

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PROVIDUS BANK: Bank charges, Fraudulent act by bankers

Ihesiulo Grace 13 August 2022 0

Providus-Bank: Customers’ accounts are debited for money without their knowledge, and when they discover this, they will claim they have performed a recall, which takes a very long time. In the meantime, customers don’t get value for their money, and even when complaints are sent to the MD, nothing is done, proving that the practice […]

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N6.7trn Subsidy payment: HoR Investigative C’ttee summons CBN Gov, FIRS boss

Ihesiulo Grace 12 August 2022 0

By Tom Okpe The House of Representatives Ad-hoc committee, investigating oil subsidy payments has invited Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) and Muhammad Nami, chairman of the Federal Inland Revenue Service (FIRS) for questioning on issues arising from payment of subsidy on petroleum products. The committee is investigating oil subsidy payments

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2023: Court strikes out CBN Gov’s suit

Ihesiulo Grace 24 May 2022 0

By Andrew Orolua The Federal High Court in Abuja has struck out the suit filed by the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, who was seeking an interpretation of Section 84(12) of the Electoral Act 2022. Justice Ahmed Mohammed struck out the suit on Monday after Emefiele’s counsel, Chief Mike Ozekhome […]