*Says COVID-19 pandemic affects depreciation in value of Naira- CBN MOTOLANI OSENI The Central Bank of Nigeria (CBN) has threatened to begin arrest and prosecution of abusers naira notes with collaboration of other regulatory bodies. The apex bank noted that it is determined to achieve this with the support of the Nigeria Police Force, Federal […]
Joy Obakeye The Association of Senior Staff of Banks, Insurance and other financial institutions, ASSBIFI, has commended the Central Bank of Nigeria (CBN) for the recent ban on the sales of forex to the Bureau De Change (BDCs). Reacting to the ban at a forum with Labour Writers Association of Nigeria (LAWAN), President of ASSBIFI, […]
*Accuses northern elites of silence on insecurity ldibia Gabriel, Kaduna Former Deputy Governor of Central Bank of Nigeria (CBN), Dr. Obadiah Mailafia, has said that if the constant killings in the country continue, it is best for Nigeria to disintegrate to ensure peace. Mailafia made the observation during an online conversation on how to “Fix […]
The Central Bank of Nigeria (CBN) on Tuesday released guidelines for registration and supervision of Credit Guarantee Companies (CGCs) in Nigeria. The guidelines are contained in a circular by Ibrahim Tukur, CBN’s Director, Financial Policy and Regulation Department, addressed to Commercial Banks, Other Financial Institutions and Stakeholders in the Financial Services Industry. Tukur said that […]
The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Thursday, disclosed that at the end of June 2021, commercial banks in Nigeria refunded N89.2 billion to customers over complaints. The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Thursday, disclosed that at the end of June 2021, commercial banks […]
*As MPC holds all monetary parameters constant *Expert hails apex bank for decision Philip Clement, Abuja Henceforth, there would be no more forex available to Bureau de Change operators as the Central Bank of Nigeria has banned sales of foreign currencies to the operators. The CBN Governor, Mr. Godwin Emefiele, announced this at the end […]
The Central Bank of Nigeria, CBN has reiterated its commitment to the financial soundness and safety of Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs) in Nigeria. The CBN stated this while clarifying unfounded reports circulating in social media attacking the soundness and safety of some Nigerian banks. Acting Director, Corporate Communications Department, CBN, […]
An expert in digital currency management, Dr Chimbo Obieze, has applauded the Central Bank of Nigeria (CBN) for the move to introduce digital currency in the country. Obieze, Executive Director of Dapmanagment Academy, made the commendation in an interview with the News Agency of Nigeria (NAN) in Enugu on Monday. Recall that the CBN on […]
*Experts support decision to hold lending rate at 11.5% *As apex bank maintains CRR, Liquidity Ratio at 27.5%, 30% By Motolani Oseni, Lagos And Philip Clement, Abuja At the close of the two-day meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), the members unanimously voted to retain major economic […]
Doosuur Iwambe, Abuja Justice Ahmed Mohammed of the federal high court sitting in Abuja has ordered the Central Bank of Nigeria, CBN to unfreeze the accounts linked with some promoters of the #EndSARS protest that took place across the country last year. The judge in his ruling on Wednesday set aside the order it made […]
…Say CBN, SEC should unfold swift regulatory frameworks for trading Tunde Opalana, Abuja Reactions have continued to trail the decision of the Central Bank Of Nigeria (CBN) to prohibit and close all accounts transacting business in cryptocurrencies in the country. Experts who spoke with The Daily Times on the development believed that the CBN’s ban […]
MOTOLANI OSENI As the country’s financial markets continued to dance to the tune of monetary policy actions amid the impacts of Covid-19 on the economy, the Central Bank of Nigeria (CBN) auctioned only N4.38 trillion worth of Open Market Operation (OMO) in 2020, representing a decline of 71 per cent in 2020, compared to N15.11 […]
Philip Clement, Abuja Despite disruptions as a result of the Coronavirus pandemic which crippled many sectors of the economy, the Nigerian Banking sector remain sound and stable, Daily Times reports. This was made known by the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele at the 20th edition of the National Seminar on […]
The Department of State Services has released former Deputy Governor of the Central Bank of Nigeria, Dr Obadiah Mailafia after a six-hour grilling. Mailafia had been invited by the DSS to appear at its office on Wednesday following an interview he granted to a radio station in which he accused a northern governor of being […]
A total of 60,000 Cotton and Rice Farmers would be supported under Zamfara State Government/Central Bank of Nigeria (CBN) agriculture partnership scheme. The Special Adviser, Zamfara State Directorate of Accelerated Cotton Development (ZAMDACOD), Alhaji Abdullahi Maiturare, disclosed this at a press conference in Gusau on Thursday. Gov. Matawalle had during his campaign for office promised […]
The Central Bank of Nigeria (CBN) says it will fund 1.6 million farmers in the 2020 wet season across the country. CBN Director, Development Finance Department, Mr. Yila Yusuf disclosed this during a flag-off of farm inputs distribution for cotton farmers for the 2020 planting season in Kwali Area Council of the Federal Capital Territory […]
Manufacturers have praised efforts of the Central Bank of Nigeria (CBN) on planned disbursement of N93.2 billion out of N1 trillion intervention fund targeted at manufacturing and agribusiness sectors for economic recovery, post COVID-19. Dr. Muda Yusuf, Director-General, Lagos Chamber of Commerce and Industry (LCCI), in an interview with News Agency of Nigeria (NAN) in […]
…As Reps plan amendment of Labour Act Tunde Opalana, Abuja The Senate through its Committee on Public Accounts has queried the Central Bank of Nigeria (CBN) on Wednesday on an unremitted $3.3 billion from the $21.3 billion collected by the Federal Inland Rveenue Service (FIRS) as foreign Tax in 2015. The office of the Auditor […]
…As Naira improves marginally against dollar at I&E forex window Motolani Oseni The nation’s external reserves gained total sum of $1.78 billion in 14 days to close last Thursday at $35.77 billion from $33.99 billion it stood at the beginning of May, data obtained from the official website of the Central Bank of Nigeria (CBN) […]
…As expert calls for recalibration of national economic strategy .In order to enable banks operating in the country manage disruptions and make positive environmental and social impact in their quest to deliver value to their stakeholders, the Central Bank of Nigeria (CBN) has encouraged banks to maintain their commitment to sustainability in designing their business […]