…As traders eagerly awaiting outcome of MPC meeting today Motolani Oseni The Nigerian currency, Naira at the close of yesterday trading activities strengthened against the US Dollar at both the official and unofficial foreign exchange markets. This is even as activities at the market on Monday remained slow, due to the anticipation of the likely […]
The Association of Bureaux De Change Operators of Nigeria (ABCON) has reinforced its support for the Central Bank of Nigeria’s (CBN) financial stability and monetary policy functions. In a statement released yesterday, ABCON President, Alhaji (Dr) Aminu Gwadabe said the apex bank under Governor Godwin Emefiele has achieved financial stability and promoted monetary policy initiatives […]
Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has disclosed that Nigeria is on top of Africa countries and ranked five globally in the global fund remittances by migrants which World Bank’s estimate put at $613 billion in 2017. Speaking in Abuja at the opening of the workshop on remittances household survey, […]
…Finance Minister: World Bank’s HCI ranking a wake-up call The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, has said that maintaining a stable exchange rate to avoid depreciation of the Naira is better than building foreign reserve buffers. Emefiele told journalists on Sunday that the development was part of the outcome of the […]
The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has disclosed that the apex bank would invite leading telecommunication operator – MTN and the four banks sanctioned recently for capital repatriation to prove their cases. The four banks are: Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank. Emefiele gave the hint on Tuesday […]
…Cautions FG over elections spending, insecurity, flooding …Retains MPR at 14 percent, CRR 22.5%, Liquidity Ratio at 30% The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has warned that the country may slip into recession again if the Federal Government did not take urgent steps to address the imminent danger, noting […]
…Revokes licence, injects N786bn to save bank …Directs AMCON to begin sale process Monday The Central Bank of Nigeria (CBN), on Friday, revoked the operating licence of Skye Bank Plc with immediate effect. The CBN Governor, Mr. Godwin Emefiele, disclosed this during a press conference in Lagos. Emefiele added that the decision had been reached […]
Justice John Tsoho of the Federal High Court in Abuja, on Tuesday, fixed June 5, 2018 for judgment in a suit seeking to compel the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to provide information on the amount spent by the Federal Government on President Muhammadu Buhari’s treatment abroad. The judge reserved […]
As Anchor Borrowers Programme takes root in 34 states The Central Bank of Nigeria (CBN) has disbursed N80billion to over 358,000 small holder farmers under Anchor Borrowers’ Programme. The beneficiaries cut across 34 states cultivating eight different commodities. The CBN Governor, Mr. Godwin Emefiele, confirmed the latest figures on Thursday in Abuja when he flagged […]
The Governor, Central Bank of Nigeria (CBN) was conferred as the Public Service Award for 2017 at Sun Newspaper 15th Annual Awards ceremony that take place during the weekend. The Award, according to the Managing Director/Editor-in-Chief of the Sun Publishing Limited, Mr. Eric Osagie, was in recognition of current policies championed by the CBN’s Governor […]
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 […]
* Woos Nigerian youth to embrace CBN initiatives The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has challenged the graduating students of University of Nigeria, Nsukka (UNN) to take advantage of the present challenges confronting the country to become job creators in the economy. Emefiele gave the charge on Thursday while delivering the […]
The Governor of the Central Bank of Nigeria, Godwin Emefiele has denied the rumor that the sale of 9mobile telecom (formerly Etisalat), encountered a hitch on the alleged pull out of Barclays Africa , the financial advisers in the transaction. He disclosed this at the MPC meeting held in Abuja on Tuesday saying that no […]
At the end of its 258th meeting (fifth this year), the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) voted to maintain status quo for the seventh consecutive session by retaining the: Monetary Policy Rate (MPR) at 14.0%; Asymmetric corridor around the MPR at +200/-500bps; Cash Reserves Ratio (CRR) at 22.5%; and Liquidity Ratio […]
Nigeria’s foreign exchange reserves stood at a two and a half-year high of $31.59 billion as of August 18, according to central bank data Thursday. Nigeria’s dollar reserves have climbed back to a level they last reached in January 2015, the data showed, shortly before general elections in Africa’s biggest economy. According to report by […]
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday retained all monetary policy rates, saying the solution to current stunted economic growth and unemployment was with the fiscal authorities. The CBN Governor, Mr Godwin Emefiele, said this in Abuja while addressing newsmen on the outcome of the second MPC meeting […]
Minister of Finance, Mrs Kemi Adeosun, said inability of Federal Government to generate enough revenue to meet its obligation left it with no choice than to borrow to finance critical projects. The minister said this on Thursday in Abuja while speaking at the 14th Daily Trust Dialogue which had “Beyond recession: Towards a Resilient Economy” […]