The Central Bank of Nigeria (CBN) yesterday, announced that it will commence sales of dollars to Bureau de Change (BDC) operators next week to enable travellers  have more access to foreign exchange   following the announcement   of the resumption of international flight.

…Employment level down 5th consecutive month By Emeka Anaeto, Business Editor The Manufacturing Purchasing Manager’s Index (PMI) of the Central Bank of Nigeria, CBN, in August 2020 witnessed a contraction for the fourth consecutive month, as it stood at 48.5 index points. In the apex bank’s Index released yesterday,  of the 14 subsectors surveyed, only […]

The Manufacturing Purchasing Manager’s Index (PMI) of the Central Bank of Nigeria, CBN, in August 2020 witnessed a contraction for the fourth consecutive month, as it stood at 48.5 index points.

As part of its effort to increase foreign exchange liquidity in the country, the Central Bank of Nigeria (CBN) has directed all banks in the country to submit the names, addresses and Bank Verification Numbers (BVN) of exporters that have defaulted in repatriating their exports proceeds, for further action.

….As Buhari approves 1yr imported metres levy deferment By Emma Ujah,  Abuja Bureau Chief Deposit Money Banks have been requested by Central Bank of Nigeria, CBN, to ensure that   Electricity Distribution Companies, DISCOs, pay for consumed power they were provided guarantees. This is part of a renewed effort to improve payment discipline in the Nigerian […]

•Deploys $3.95bn to BDCs, others •Discovers N365m deposit shortages in 21 banks By Elizabeth Adegbesan THE Central Bank of Nigeria, CBN, said it spent N75 billion to print banknotes in 2019. This represents N11.5 billion or 18 percent increase when compared to N64 billion spent in 2018. The apex bank also deployed $3.95 billion to […]

By Ike Uchechukwu About 500 youths and women in Cross River have been selected to undergo an entrepreneurial development training in the state after which they will receive up to N10 million each to start up or expand their businesses. The initiative which is a partnership between the Central Bank of Nigeria through the Agro […]

…Introduces Product Price Verification Mechanism By Emma Ujah The Central Bank of Nigeria, CBN,  has moved against unscrupulous Nigerians and corporate, who abuse the Form M system through over-pricing as it introduces Product Price Verification Mechanism (PPVM). It has, therefore, directed authorised dealers to use the PPVM to verify quoted prices of goods and services […]

The Managing Director/Chief Executive Officer of Polaris Bank Limited, Mr. Tokunbo Abiru, has announced his retirement from the service of the bank, effective August 31, 2020, having successfully completed his second two-year tenure at the helm of the bank. In a farewell message to the staff of the bank, Abiru explained that having served in […]

The Central Bank of Nigeria (CBN) disbursed lower denomination banknotes worth N237.14 billion to microfinance banks (mfbs), merchants, shopping malls, market associations among others in 2019, to increase the circulation of such notes in the country.