Forex: CBN introduces longest Naira-settled Forwards contract
In a bid to reduce demand pressure in the foreign exchange market, and enhance dollar inflow into the economy, the Central Bank of Nigeria (CBN) yesterday introduced the longest Naira-settled Forwards contract.
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 […]
