CBN injects billions into textiles, cotton industries
Emma Ujah The Governor of the Central bank of Nigeria (CBN), Mr Godwin Emefiele, at the signing of the Memoranda of Understanding (MoU) in Abuja, yesterday has described the “historic” deal involving the nation’s cotton farmers, textile companies and the military. The first MOU was between the National Cotton Association of Nigeria (NACOTAN) and Ginning […]
BREAKING: CBN directs banks to shun Telcos that increase USSD charge
Babajide Komolafe The Central Bank of Nigerian (CBN) has directed banks to shun telecommunication providers that increase USSD charge. The CBN governor, Godwin Emefiele, said since the Telcos are adamant about increasing the charge, banks should move their business to any Telco that is ready to offer the service at a lower cost. Details later […]
CBN injects $325.5m into retail market
The Central Bank of Nigeria (CBN) has injected $325.5million in the Retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short-tenured forwards segment of the inter-bank foreign market. The apex bank’s Director of Corporate Communications, Mr. Isaac Okorafor, disclosed this in a statement in Abuja on Friday. Okorafor said the dollars intervention […]
Arbitrage: CBN directs banks to reverse loan funded TB transactions
Warns against circumvention LDR directive By Emeka Anaeto & Babajide Komolafe The Central Bank of Nigeria (CBN) has directed banks to reverse customers’ investments in treasury bills funded with loans, describing the practice as arbitrage and circumvention of its 65 per cent loan-to-deposit ratio (LDR). Recall that the CBN in an attempt to increase lending to […]
Forex intervention: CBN injects $325.5m into retail market
The Central Bank of Nigeria (CBN) has injected 325.5million dollars in the Retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short-tenured forwards segment of the inter-bank foreign market.
N500, N1000 denominations most commonly counterfeited banknotes — CBN report
The Central Bank of Nigeria (CBN) on Wednesday, said that a total of 119,663 pieces of counterfeit notes with a nominal value of N98.82 million was recorded in 2018.
