CBN imposes forex restriction on milk importation
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria, CBN, has imposed foreign exchange, forex, restriction on the importation of milk into the country. The apex bank exempted and approved six companies for the importation of milk and other dairy products. They are: FrieslandCampina WAMCO Nigeria; Chi Limited; TG Arla Dairy Products Limited; […]
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 […]
