Nigeria to have 15th largest industry by 2020 – CBN
By Favour Nnabugwu The Central Bank of Nigeria (CBN) has disclosed plans of positioning the Nigerian insurance industry among the 15 largest in the world come year 2020. The apex bank said a lot of transformation was going on in the sector, as enshrined in its Financial System Stability 2020 (FSS 2020) aimed at revamping […]
Reps give CBN, others ultimatum to account for $22.6bn oil blocs
THE House of Representatives Ad-hoc Committee on Oil Prospecting Licences, OPLs, and Oil Mining Leases, OMLs, yesterday, gave the Central Bank of Nigeria, CBN, and others one week ultimatum to provide all relevant documents to ascertain the payments of about $22.6 billion oil blocs from application fees, royalties, signature bonuses and other fees by oil companies.
Forex: CBN queries banks
The Central Bank of Nigeria, CBN, has denied allegations of irregularities in the foreign exchange, forex, transactions among Deposit Money Banks, DMBs and insisted that process remains transparent.
CBN sold $1.1bn to importers in Nov 2016
THE Central Bank of Nigeria (CBN), yesterday, said that it sold $1.1billion to 4,328 firms in November with Crown Flour Mills and five fuel importers receiving the largest share.
Manufacturers urge CBN to release N50bn textile intervention fund
The Nigerian Textile Manufacturers Association (NTMA) has urged the Central Bank of Nigeria (CBN) to expedite the release of the pending N50 billion intervention fund to Cotton, Textile and Garment manufacturers.
CBN urged to review forex restriction on 41 imported items
A financial expert yesterday called on the Central Bank of Nigeria (CBN) to review the foreign exchange restriction placed on 41 items imported into the country.
