The Central Bank of Nigeria (CBN) says it has collaborated with the Nigerian Inter-Bank Settlement Systems (NIBSS) to launch the National Domestic Card Scheme ‘AfriGo’ to transform the Nigerian payment system. The Governor of the CBN, Godwin Emefiele made this known on Thursday at a virtual launch of the...
Central Bank of Nigeria (CBN)
Against projections by some experts, the Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) has increased the monetary policy rate by 100 basis points to 17.5 per cent. This is contained in a communiqué issued at the end of the first MPC meeting in 2023, in Abuja...
Mr Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) on Friday said the steady increase in headline inflation from 15.60 per cent in January to 20.77 per cent in September was consistent with global trends. Emefiele said this at the 57th Annual Bankers Dinner, organised by the Chartered institute...
No fewer than 20 teams will slug it out beginning from Wednesday as the 2022 All Financial Institutions Football Competition (AFIFC), sponsored by the Central Bank of Nigeria (CBN), gets underway. A statement by the Director Corporate Communications Department, CBN, Osita Nwanisobi, disclosed that the competition, which would start...
The Central Bank of Nigeria (CBN), Abuja Headquarters Football Club have emerged winner of the 41st edition of the CBN Governor’s Cup competition in Uyo. The final match of the tournament, which was played on Saturday at the Godswill Akpabio International Stadium in Uyo, saw CBN Abuja FC beating...
The Young Progressives Party (YPP) has lauded the planned redesign of naira notes by the Central Bank of Nigeria (CBN) saying it will help curb money politics in 2023 general election. Mr Malik Ado-Ibrahim, Presidential Candidate, YPP said this at a news conference on Monday in Abuja. Ado-Ibrahim said...
The Economic and Financial Crimes Commission (EFCC) has applauded the move by the Central Bank of Nigeria (CBN) to redesign and reissue higher denominations of the Nigerian currency, the naira. The CBN Governor, Godwin Emefiele, on Wednesday announced that the apex bank had obtained the approval of the Federal...
An economist, Prof. Evans Osabuohien says the increase of Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) Central Bank of Nigeria (CBN) will further put pressure on already pressured private sector. Osabuohien made this known in an interview with the News Agency of Nigeria (NAN) in Ota,...
The House of Representatives Committee on Finance, has frowned at discrepancies in the figures of Office of the Accountant General of the Federation (OAGF) and the Central Bank of Nigeria (CBN) on 2021 remittances by government agencies. Rep. Stanley Olajide (APC- Oyo) a member of the committee said this...
Some stakeholders have commended the Central Bank of Nigeria (CBN) for injecting $265million into the nation’s aviation sector. This action, the stakeholders said would bailout some of the foreign airlines out of the shortage of dollars . The News Agency of Nigeria(NAN) reports that the apex bank, on Friday,...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday increased the Monetary Policy Rate (MPR) to 14 per cent from its initial 13 per cent. Reading a communiqué after the committee’s meeting in Lagos, Mr Godwin Emefiele, the CBN Governor, said the MPC also...
In the face of rising demand for foreign exchange for goods, services, and other needs, the Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says monetary policy alone cannot wholly address the country’s foreign exchange challenges. Mr. Emefiele disclosed this in a keynote to the maiden bi-annual Non-Oil...
The Central Bank of Nigeria (CBN), says it is set to introduce the Unstructured Supplementary (USSD) code as part of steps to improve the Central Bank Digital Currency (CBDC). The Deputy Governor of the CBN, Kingsley Obiora, said this at the IMF African Department Speakers Series held virtually on...
The Chairman of the independent National Electoral Commission (INEC), Mahmood Yakubu, says sensitive electoral materials will in the meantime no longer be routed through the Central bank of Nigeria (CBN). He also specifically notes that, beginning from the Ekiti State Governorship election, INEC will not keep its sensitive materials...
For the first time in over two years, the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 13 per cent. Mr Godwin Emefiele, Governor of the CBN, said this while reading the 285th communiqué issued at the end of the apex bank’s Monetary Policy...
The National Industrial Court sitting in Lagos has ordered the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to pay over N5.7bn terminal benefits to over 1,000 bank workers affected by the re-capitalisation exercise of 2006. The money is to be paid within three months...
The Central Bank of Nigeria (CBN), has warned Deposit Money Banks (DMBs) to stop bringing “composed banknotes ” as part of their deposits with the apex bank. The warning is contained in a circular issued in Abuja by Ahmed Umar, the Director, Currency Operations Department of CBN, which he...
By JOY ADARA, Abuja – The Transparency Nigeria Group (TNG) has called on the Central Bank of Nigeria (CBN) to immediately dismiss Mr Ademola Ademise, the Chief Executive Officer (CEO) of Wema Bank PLC, a tier-3 lender quoted on the NGX. A statement issued on Tuesday by TNG Communications...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday voted to hold the Monetary Policy Rate (MPR) at 11.5 per cent for the umpteenth time. Reading a communiqué after the committee’s 282nd meeting on Tuesday, Mr Godwin Emefiele, the CBN Governor, said the MPC...