CBN provides N10bn intervention funds to Kano to revive industries ― Consortium
Kano Investment and Diaspora, in partnership with the Foreign Commonwealth Development ((LINKS) and Manufacturers Association of Nigeria (MAN) have secured a N10 billion intervention fund from the Central Bank of Nigeria (CBN) to revive companies impacted by the Covid-19 pandemic. Speaking at the sensitization meeting on Kano Turnaround Project, on Monday, in Kano, the Director […]
Declining revenue raises FG’s deficit to N1.3trn in Q3’20
By Babajide Komolafe The Federal Government (FG) recorded a 42 percent shortfall in revenue collected in the third quarter 2020 (Q3’20) which resulted in deficit spending of N1.29 trillion during the quarter. The deficit spending recorded in the period represents a slight increase when compared with the N1.25 trillion recorded in Q2’20. Central Bank of […]
CBN threatens firms over diaspora remittances in local currency
The Central Bank of Nigeria (CBN) has directed payment switching and processing companies to stop local currency transfer of diaspora remittances received through International Money Transfer Operators (IMTOs), with a threat to revoke licences of defaulting firms.
CBN directs payment processors, switches to stop transfer of remittances in local currency
The Central Bank of Nigeria (CBN) has directed payment switching and processing companies to stop local currency transfer of diaspora remittances received through International Money Transfer Operators (IMTOs).
I sacked Sanusi because of Jonathan — Ganduje
The Kano State Governor, Abdullahi Ganduje, on Tuesday, said he dethroned the former Emir of Kano, Muhammadu Sanusi because he was not best man for the throne, saying he was appointed to spite former President Goodluck Jonathan.
CBN boosts poultry industry with N12.5bn
The Central Bank of Nigeria (CBN) has released the sum of N12.552 billion to large, medium and small-scale poultry farmers in the country as part of its strategy to boost egg and meat production while creating more jobs in the sub-sector.
2021 economy outlook and CBN’s solutions
By Emeka Anaeto, Business Editor The year 2021 is literally here. Suddenly it has become the year for a magic which was initially expected for 2020, but which disappointed due, obviously, to the public health crises of COVID-19 that practically pressured all economies, including Nigeria’s. Most economies, even corporates and individuals, have moved all the […]
CBN commits N200bn on 300,000 social housing scheme
THE Central Bank of Nigeria, CBN, has committed N200 billion to kickstart the social housing projects, under the Economic Sustainability Plan, ESP.
CBN releases categorisation for payment system
The Central Bank of Nigeria (CBN), in line with its commitment to promote a strong and credible payment system, has approved new license categorisations for the payments system. A circular signed by Mr Musa Jimoh, Director, Payments System Management Department of the apex bank, states that the new framework offers clarity for new and existing […]
CBN rolls out new licence regime for payment systems
In a bid to promote a strong and credible payment system in the country, the Central Bank of Nigeria, CBN, has approved new license categorization for payment systems in Nigeria.
Labour backs Emefiele on CBN’s Naira valuation
By Ibrahim HassanWuyo Organized labour has commended the recent measures of the Central Bank of Nigeria (CBN) aimed at shoring up the value of the Naira. The Naira recently reversed its depreciation trend in the parallel market, recording N20 gain against the United States Dollar closing at N470 per dollar due to what observers attributed […]
