BENIN—EDO State Government has disclosed that the monetary policy of Central of Bank of Nigeria, CBN, has negatively affected commercial banks’ interest rates to Small and Medium Enterprises, SMEs.

AGRICULTURAL development is one of the five major strategic combination methodologies needed to create quantum leap growth and sustainable development in the Nigerian economy. Other methodologies are the application of ‘The Big Push’, Schumpetarian growth model, Endogenous growth model and Interventionist policies.

The Presidency on Wednesday vowed to take all necessary measures to recover the $7 billion which the Central Bank of dashed commercial banks in 2006 as bailout cash.

LAGOS—A Lagos based businessman, Otunba Adejare Rewane Adegbenro has commended the roles of the Central Bank of Nigeria, CBN, under its Governor, Mr. Godwin Emefiele in revamping the economy, saying the CBN has ensured strict implementation of President Muhammadu  Buhari administration’s economic policies that drive growth and sustainability in the country.

THE quest for cheaper funds by corporate bodies and fear of non-performing loans by banks have triggered a boom in the market for Commercial Papers, CP, with the market growing by 270 percent in the third quarter of the year (2018).

WITH dollar inflow into the Investors and Exporters window, I&E, falling by 42 percent in October, and the external reserves maintaining its downward trend, losing another $2.639 billion since the last meeting of the Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, in September, economic analysts have projected that the committee, at the end of its meeting this week, will maintain its policy rates in deference to the need to sustain dollar inflow from foreign portfolio investors in the nation’s debt market with a view to forestall the declining trend in the reserves and demand pressure in the nation’s foreign exchange market. 

The Central Bank of Nigeria (CBN) on Saturday rescheduled the Nov. 19 meeting of the Monetary Policy Committee (MPC) to Nov. 21 and 22 to accommodate the Eid-El Maulud celebrations.

THE Central Bank of Nigeria (CBN) is expected to intensify efforts to mop up liquidity from the banking system this week in response to inflow of N552 billion from matured treasury bills (TBs). Last week, the apex bank issued secondary market (Open Market Operations, OMO) TBs to mop up N316.23 billion from the interbank money market following the inflow of N375.98  billion from matured TBs

The Central Bank of Nigeria (CBN) has extended the Nigerian Uniform Bank Account Number (NUBAN) scheme meant for banks to Other Financial Institutions (OFIs).

THE Central Bank of Nigeria, CBN, has called on capital and money market participants to act with integrity, transparency and be non-discriminatory to be able to attract investors that would help boost the economy.

THE moderation in cost of funds in the interbank money market is expected to persist this week in response to N376 billion inflow from maturing treasury bills (TBs).  Last week, the Central Bank of Nigeria (CBN) mopped up N517.61 billion via secondary market (Open Market Operations, OMO) TBs auction.

Report from the Central Bank of Nigeria, CBN, has revealed that two global giant banks, HSBC and UBS have closed their respective offices and shut down operations in Nigeria.

The Central Bank of Nigeria (CBN) has reduced the nation’s Gross Domestic Product (GDP) growth rate projection to 1.75 per cent for full year 2018, significantly below both Federal Government and the International Monetary Funds, IMF, projections.

The Central Bank of Nigeria (CBN) on Friday said it injected 337.16 million dollars in the retail Secondary Market Intervention Sales (SMIS) in its first intervention in the inter-bank foreign market for November.

Three banks failed to meet the 30 percent liquidity ratio requirement of the Central Bank of Nigeria, CBN, even as investigations revealed prevalence of major foreign exchange malpractices in the banking industry.