Rising inflation: Stabilise forex now – experts tell CBN
Financial experts on Tuesday expressed concerns on the country’s rising inflation rate currently at 12.82 per cent, and called for stabilisation of the exchange rate.
FG hands over National Theatre to CBN, Bankers’ C’ttee for restoration
The Federal Government has handed over the National Theatre and its surrounding lands to the Central Bank of Nigeria, CBN, for restoration, which aims at creating millions of jobs for youths in the country and diversifying the country’s economy.
Renovation of National Theatre will build more resilient economy — Emefiele
The Central Bank of Nigeria (CBN) in conjunction with the Bankers Committee has said that the National Arts Theatre when renovated and fully operational, would lead to the build-up of a more resilient economy. The CBN Governor, Mr Godwin Emefiele, made the assertion at the official handover ceremony of the facility to the Bankers Committee […]
LOOMING FREE FALL: How to save the Naira, by Yusuf, Ife, Ogundadegbe
On Tuesday, the Central Bank of Nigeria, CBN, adjusted the value of the Naira to exchange to the dollar at N381, as part of the measures to unify the rate at the foreign exchange spot.
Exchange rate unification: CBN devalues naira to 380.5 in official market
By Babajide Komolafe The Central Bank of Nigeria (CBN) yesterday moved closer unifying the exchange rates in the official market and the Investors and Exporters (I&E) window, as it devalued the naira to N380.5 per dollar in the official market. Data from FMDQ showed an adjustment of the official exchange rate to N380.5 per dollar […]
Farmers ask CBN to exclude ‘political farmers’ from zero-interest facilities
By Jimoh Babatunde Farmers and other stakeholders in the agricultural sector have demanded that the planned integration of non-interest credit facilities into the Anchor Borrowers’ Programme, ABP, the Targeted Credit Facility, TCF, and other agricultural credit schemes by the Central Bank of Nigeria, CBN, should be exclusively opened to genuine farmers through their associations. They […]
Stronger Assets Amid CBN Lending Policy
Unity bank closed the year with a 39 per cent increase in total assets to N293 billion from N210 billion in 2018 following an impressive performance in gross loans and advances to customers and customers’ deposits.
Banks besiege CBN for loans as scarcity of funds intensifies
The interbank money market has been gripped with intense scarcity of funds as amount of idle cash (liquidity) in the market fell by 95 percent, prompting banks to besiege the Standing Lending Facility, SLF, of the Central Bank of Nigeria (CBN) for short term cash needs.
CBN ready to partner private sector to tackle COVID-19 challenges — Emefiele
The Central Bank of Nigeria, CBN yesterday revealed its readiness to partner the private sector in its quest to tackle novel coronavirus, COVID-19 pandemic, as Lagos State commissions an ultra-modern disease isolation centre in Yaba.
COVID-19: SERAP asks court to order FG, CBN to name beneficiaries of cash payments, donations
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit asking the Federal High Court, Abuja to order the Federal Government and Central Bank of Nigeria (CBN) to “publicly identify and name Nigerians who have so far benefited from any cash payments, cash transfers, food distribution and other reliefs and palliatives during the lockdown in Abuja, Lagos and Ogun states because of COVID-19.”
COVID-19: 17 banks seek CBN approval to restructure 32,000 loans
In apparent reflection of the severe impact of the COVID-19 pandemic on the economy, 17 banks have written to the Central Bank of Nigeria (CBN) for permission to restructure 32,000 loans granted to individuals and businesses
