Economists have continued to give kudos to the Central Bank of Nigeria (CBN) for allowing the Naira to float freely on the Investors and Exporters (I&E) window. The News Agency of Nigeria (NAN) reports that banks are now allowed to trade foreign exchange on the I & E window...
CBN
By JOY ADARA, Abuja – A Federal High Court in Abuja on Wednesday ordered the Central Bank of Nigeria (CBN) to pay Media Rights Agenda (MRA) N1 million as damages for wrongful denial of access to information and directed the apex bank to also make available to the organization...
Only a Central Bank of Nigeria (CBN) with reputation for competence will attract the confidence of investors and operators into the Nigerian market, say some economists. They made the assertion at a seminar organised by the Association of Capital Market Academics of Nigeria (ACMAN), virtually, on Tuesday. The experts...
By CALLISTUS OFFOR, Abuja – The Department of State Services (DSS) has denied arresting Mr. Godwin Emefiele following his suspension as the Governor of Central Bank of Nigeria (CBN). Social media reports on Friday evening alleged that Mr. Emefiele was currently in the custody of the secret police. However,...
A financial expert, Prof. Uche Uwaleke, says the suspension of the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele was long foretold. Uwaleke, a Professor of Finance and Capital Market at the Nasarawa State University, Keffi, said this in an interview with the News Agency of ...
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) has debunked media reports alleging that the apex bank has devalued the country’s currency, Naira to N600 per US dollar at the parallel market. Ag. Director, Corporate Communications, Dr. Isa AbdulMumin, debunked the report in a statement issued...
Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), says his members will align with President Bola Tinubu’s position on unified exchange rates. Gwadabe said this in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos. NAN reports that Tinubu had...
President Bola Tinubu, has promised to revisit the naira redesign policy of the Central Bank of Nigeria (CBN). Tinubu, who said this in his inaugural speech in Abuja on Monday, however, said that his administration would treat both the old and the new naira notes as legal tender. He...
Senate has passed a bill seeking to amend the Central Bank of Nigeria (CBN) Act to increase its advances to the Federal Government from five per cent to maximum of 15 per cent. The passage of the bill, followed its presentation and consideration at plenary on Saturday. The bill...
Some Economists have urged the Central Bank of Nigeria (CBN) to focus more on supply side or cost push factors and structural issues fueling inflation in the country. The experts told the News Agency of Nigeria (NAN) on Friday in Lagos that the repeated interest rate hikes had done...
The Central Bank of Nigeria (CBN), on Tuesday, revoked the operating licenses of 132 microfinance banks and those of four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government, which was published on the website of the CBN on Tuesday....
The Central Bank of Nigeria (CBN) has inaugurated eNaira wallet students ambassadors in the University of Jos (UNIJOS). Esther Tinat, the Branch Manager of the apex bank in Jos, who inaugurated the ambassadors, said that the initiative is from the Central Bank Digital Currency (CBDC), aimed at improving the...
The Central Bank of Nigeria (CBN) has said that the newly inaugurated Dangote Petroleum Refinery and Petrochemicals will help Nigeria generate more power for its electricity sector. Speaking today at the inauguration in Lagos State, Governor of the apex bank, Mr Godwin Emefiele, said the Dangote Refinery is expected...
By PATRICK ABANG, Calabar – Against the backdrop of persistent denials by Central Bank of Nigeria and other financial institutions to grant credit facilities to natural rubber farmers in the country, the National Rubber Producers, Processors and marketers Association of Nigeria, NARPPMAN, has devised another way to raise funds...
The Senate, on Wednesday, urged the Central Bank of Nigeria (CBN) to release 717, 478, 606 dollars airlines funds trapped in the country. The upper chamber also called on the CBN to allocate 25 million dollars to airlines operating in Nigeria at its forth-nightly dollar auction. These resolutions were...
The Central Bank of Nigeria (CBN), on Monday unveiled an e-learning platform, SabiMONI, to promote financial literacy and to deepen financial inclusion. Speaking at the ceremony, the CBN Governor, Mr Godwin Emefiele, said that the platform was a fully digital national e-learning platform that provided a knowledge base for...
A popular Abuja based Afro-pop artiste, Chidubem Kenechukwu Udoji, know as ‘Detailmadeit’ has called on the Central Bank of Nigeria (CBN) to grant artistes access to creative funds to improve the sector in the Federal Capital Territory. Udoji made the call while speaking with the News Agency of Nigeria...
By EZEKIEL OBI, Abuja – The Federal High Court in Abuja has ruled in favor of the Incorporated Trustees of Human and Environmental Development Agenda (HEDA Resource Centre) in a case against the Central Bank of Nigeria (CBN). The court’s decision, based on suit number FHC/ABJ/CS/1622/2020, comes after the...
The Bank Verification Number (BVN) issued by the Central Bank of Nigeria (CBN) was initially to expire after 10 years, PRNigeria Fact-Check discovers. The factcheck was conducted after a viral video disclosed the expiry date, which was later denied by the CBN. While ascertaining the truth in the claim,...
President Muhammadu Buhari recently sent a request to the National Assembly to approve 800 million dollars loan meant to cushion effect of the proposed removal of fuel subsidy. Minister of Finance, Budget, and National Planning, Zainab Ahmed, said that Nigeria secured the World Bank facility as a first tranche...