Banks’ borrowing from CBN rises 63% to N1.8trn
By Babajide Komolafe, Economy Editor The upward trend in banks’ borrowing from the Central Bank of Nigeria, CBN, persisted in May, rising by 63 per cent, Month-on-Month, MoM, to N1.8 trillion. The CBN has two short term lending windows for banks namely the Standing Lending Facility (SLF) and Repo lending. While the CBN lends money […]
CBN escrow of DisCos’ bank accounts saved sector from collapse – Experts
Energy experts have claimed that the decision by the Central Bank of Nigeria (CBN) to escrow the bank accounts of electricity distribution companies in August, 2020, saved the power sector from collapse.
Stakeholders appraise CBN’s TIES initiative
NIGERIAN students, on the platform of the National Association of Nigerian Students, NANS, are now in high spirits, while building hopes of a new dawn of a positive post-schooling experience.
N19.3bn bailout: Activist to sue EFCC, Yahaya Bello, others
By Arogbonlo Israel A renowned activist, blogger and politician of Kogi extraction, popularly known as Usman Okai has vowed to sue the Economic and Financial Crimes Commission (EFCC), Kogi State Governor, Yahaya Bello, among others over unsubstantiated allegations that the State Government fixed N19.3 billion bailout funds received from the Federal Government. The activist, who […]
Economy steadily recovering, but growth still fragile — CBN
THE Central Bank of Nigeria, CBN, Tuesday, said Nigeria’s economy is on recovery path but the growth is still fragile and below potential.
How CBN intervention can lower N1trn electricity subsidy cost – experts
With Federal Government set to eliminate most subsidies in the electricity sector by January 1, 2022, experts have held that the government could leverage on the N1.5 trillion intervention funds provided by the Central Bank of Nigeria (CBN) to boost the finances of the industry.
Traders send SOS to CBN over multiple charges/deductions by commercial banks
The South East Amalgamated Markets Traders Association (SEAMATA), has sent a “Save Our Souls (SOS)” signal to the Central Bank of Nigeria (CBN) over multiple and indiscriminate charges and deductions on customers by commercial banks. SEAMATA is the umbrella association of traders in all the markets in the South East geo-political zone and traders of […]
CBN takes eNaira platform to Kaduna
The Central Bank of Nigeria ( CBN) has explained the operational benefits of its newly introduced eNaira to the public and scolded commercial banks in Nigeria for not doing much to educate the citizens about the eNaira platform.
CBN seeks eNaira-based products from PSBs, Fintechs
By Babajide Komolafe In the bid to further deepen adoption of the nation’s Central Bank Digital Currency (CBDC), the Central Bank of Nigeria (CBN) has asked Payment Service Banks, PSBs and Fintechs to develop and introduce products based on the e-Naira. Director, Information Technology Department (ITD), CBN, Mrs Rakiya Mohammed, made this position known in […]
First Bank too big to be owned by one person — CBN
By Emma Ujah and Emmanuel Elebeke The Central Bank of Nigeria (CBN) has said that it would be guided by the decision of the Securities and Exchange Commission (SEC) on the ownership structure of FBN Holdings Plc, the parent company of First Bank Plc. The company’s majority stake recently became a subject of controversy among […]
Charles Soludo: From village boy to Anambra Governor-elect
By Arogbonlo Israel Charles Soludo, a village boy who has risen through the ranks to become an icon in the annals of the Nigerian history, has not only put his name on ‘hall of fame’ but also inspired many by his recent feat at the just concluded Anambra gubernatorial election. The first class graduate just […]
