CBN clarifies position on operation of domiciliary accounts
The Central Bank of Nigeria (CBN) says it has not prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks (DMBs). The CBN Director, Corporate Communications, Mr Issac Okorafor made the clarification while speaking to newsmen in Abuja on Sunday. A domiciliary account is a type of current account that allows you to […]
Confidence in economy drops in January — CBN
Business confidence in the economy dropped to 28.3 index points in January 2020. This represents a decline of 2.0 index points when compared to 30.3 index points in December 2019.
Corruption: Reps threaten to expose CBN, NNPC, others
By Tordue Salem – Abuja The House of Representatives on Monday threatened to expose the amount of generated public funds unaccounted for by the Central Bank of Nigeria, CBN, the Nigeria National Petroleum Corporation, NNPC and several other unremitting agencies in the country. Chairman of the House Public Accounts Committee, Rep. Wole Oke issued the […]
Manufacturing PMI drops to 59.2 index points in January — CBN
THE Central Bank of Nigeria, CBN, said that the Manufacturing Purchasing Managers Index, PMI, dropped marginally to 59.2 index points in January though activities in sector expanded for the 34th consecutive months. The January Manufacturing PMI represents 1.6 index points decline when compared to the 60.2 index points recorded in December 2019.
Senate Committee screens Obiora for CBN Deputy Gov post
Emma Ujah, Abuja Bureau Chief The Senate Committee on Banking, Insurance and Other Financial Institutions, yesterday screened Dr. Kingsley Obiora for the position of Deputy Governor of the Central Bank of Nigeria, CBN, urging him to bring his wealth of experience to bear in the task of assisting the Bank achieve its mandate of ensuring […]
Buhari writes Senate, seeks confirmation of Obiora as CBN Deputy Gov, Akande as NCC Chairman
The Senate has received a request from President Muhammadu Buhari for the confirmation of Dr. Kingsley Isitua Obiora and Professor Adeola Akande as Deputy Governor of the Central Bank of Nigeria; and Chairman of the Nigerian Communications Commission (NCC).
Buhari seeks Senate confirmation of Obiorah, Akande’s appointments in CBN and NCC
Henry Umoru – Abuja PRESIDENT Muhammadu Buhari has written the Senate for the screening and subsequent confirmation of Dr. Kingsley Isitua Obiora as Deputy Governor of the Central Bank of Nigeria (CBN). President Buhari also asked the senators to confirm the appointment of Prof. Adeola Akande as Chairman of the Nigerian Communications Commission (NCC). Both […]
CRR Hike: CBN curtails banks’ lending power by N1.2trn
Following its decision to raise the Cash Reserve Ratio (CRR) to 27.5 percent from 22.5 percent, the Central Bank of Nigeria (CBN) has reduced the lending ability of banks by N1.2 trillion
CBN’s CRR DECISION: Different views greet declaration on banks’ cash reserves
The decision of the Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) to raise the cash reserve ratio by 500 basis points to 27.5 per cent, from 22.5 per cent, while leaving all other policy parameters constant last Friday, has continued to generate different reactions from economists and financial sector analysts.
Banking sector gross credit grows by N2trn in 7 months — Emefiele
The Central Bank of Nigeria (CBN) says the Banking Sector Gross Credit has grown by two trillion nairas in seven months.
Banking sector gross credit increased by N2.7tr – CBN
The Governor of the Central Bank of Nigeria, Godwin Emefiele, said on Friday the banking sector gross credit has grown by N2.7trillion in seven months. Emefiele disclosed this while briefing journalists on the outcome of the Monetary Policy Committee (MPC) meeting held in Abuja. He said the gross credit in the industry grew by N2trillion […]
CBN raises Cash Reserve Ratio to 27.5%
Emma Ujah – Abuja The Central Bank of Nigeria has raised the Cash Reserve Ratio from 22.5 per cent to 27.5 per cent. Briefing the press after the first Monetary Policy Committee (MPC) meeting in 2020 held in Abuja, the CBN Governor, Mr Godwin Emefiele, said that all other parameters were retained. Accordingly, the Monetary […]
CBN redeploys Yila from NIRSAL MFB to DFD
Emma Ujah – Abuja The Central Bank of Nigeria (CBN) has redeployed Mr Yusuf Philip Yila, the Managing Director, NIRSAL Microfinance Bank (NMFB), as Director, Development Finance Department. The redeployment of Mr Yila who was the Director of CBN before his appointment as MD, NIRSAL Microfinance Bank takes effect from today. Yila succeeds Dr. Mudashiru […]
CBN partners with Cotton association to resuscitate CTG sector
The National Cotton Association of Nigeria(NACOTAN), says it will partner with the Central Bank of Nigeria(CBN), to quickens the Federal Government’s effort in resuscitating the Cotton Textile and Garment (CTG) sector. Mr. Anibe Achimugu, the National President of the association made this known in an interview with the News Agency of Nigeria (NAN) on Friday […]
We are probing alleged refusal by CBN to remit Stamp Duties to the tune of N20 trillion – Senate
THE Senate is at the moment investigating reported cases of alleged failure by the Central Bank of Nigeria, CBN to remit stamp duties totaling over N20 trillion to the Federation Account.
Court orders interim forfeiture of $376,120 traced to Army Chief, Otiki
By Ikechukwu Nnochiri – Abuja The Abuja Division of the Federal High Court, on Wednesday, ordered the interim forfeiture of the sum of $376, 120 allegedly seized from Major General Hakeem Otiki, to the Federal Government. The order followed an ex-parte motion marked FHC/ABJ/CS/1380/20, which the Economic and Financial Crimes Commission, EFCC, brought before the […]
