Retirement of over 1,000 CBN staff: Reps to probe sack, N50bn payoff
The House of Representatives, Tuesday, resolved to investigate the retirement of no fewer than 1,000 staff of the Central Bank of Nigeria, CBN, and the associated N50billion Payoff Scheme.
CBN rallies DBN, BoI to bridge N294bn women entrepreneurs financing gap
The Central Bank of Nigeria (CBN), in collaboration with the Development Bank of Nigeria (DBN) and the Bank of Industry (BoI), has signed the Women Entrepreneurs Finance (We-Fi) Code, a commitment aimed at mobilizing funds to close the N294 billion financing gap faced by women entrepreneurs in Nigeria. The signing of the code, a global initiative, took place in Abuja.
CBN is serious about fair, efficient markets – Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has said that the Bank’s decision to implement the Electronic Foreign Exchange Matching System (EFEMS) is rooted in the understanding that trust is essential to central banking.
Shock as banks record huge profit amidst gloomy economy
•Earnings rise 132% to N11.7trn, as profit skyrockets 101.9% •Interest income nears N7trn •Credit to private sector declines 4.3% •Analysts warn of looming danger to economy
CBN introduces electronic exchange matching system for FX transactions
The Central Bank of Nigeria (CBN) has announced the introduction of the Electronic Foreign Exchange Matching System (EFEMS) for Foreign Exchange (FX) transactions within the Nigerian Foreign Exchange Market (NFEM).
New CBN interest rate’ll increase unemployment – Small business owners
“We may begin to see more ailing or comatose businesses. Our competitiveness… will be further be challenged as made-in-Nigeria products will be naturally more expensive than before”
CBN’s 27.25% new interest rate detrimental to investment, economic growth — Experts
“Our competitiveness in the national, continental and global business will be further challenged as Made-in-Nigeria products will be naturally more expensive than before”
5 things POS operators should know about CBN Registration
CAC now requires that all POS operators and fintech merchants in Nigeria register their businesses according to Central Bank of Nigeria, CBN, guidelines by July 7, 2024
Fuel subsidy removal poses risk to external reserve growth – CBN
“Lower crude oil earnings, fuel subsidy removal, rising import bills, and increased external debt servicing obligations could pose downside risks for the accretion to external reserves”
CBN directs PSPs to connect to PTS Aggregators
The Central Bank of Nigeria (CBN) has directed all Payment Service Providers (PSPs) to connect to Payment Terminal Service Aggregators, in its quest to track all electronic transactions.
Economic activities record first expansion in 13 months
The Central Bank of Nigeria, CBN, said economic activities recorded its first expansion in 13 consecutive months to 50.2 index points in August 2024.
LCFE, Commodities brokers laud FG, CBN on food importation directive
Lagos Commodities and Futures Exchange (LCFE) and top commodities brokers have commended the Federal Government and Central Bank of Nigeria (CBN), for the recent directive, mandating companies to channel the importation of basic food items through commodities exchanges.
CBN to sell N2.2trn Treasury Bills in Q4’24
By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, said it would sell Treasury Bills, TBs, worth N2.2 trillion in the fourth quarter of 2024 (Q3’24). This represents a 41 percent quarter -on-quarter (QoQ) decline when compared with N1.56 trillion sold in Q3 ’24. CBN disclosed this today in its Nigeria Treasury Bills Issue programme […]
CBN lifts ban on lending to banks, pegs interest rate at 31.75%
The Central Bank of Nigeria, CBN, today lifted the suspension on lending to banks through its Standing Lending Facility, SLF, adjusting the lending rate to 31.75 percent interest rate.
FG’s deficit rises 0.1% to N824.79 bn
The report also showed that the deficit was 7.92 percent higher than the budgeted N764.19 billion for the period.
Businesses expect improvements in economy- CBN Survey
By Babajide Komolafe The Central Bank of Nigeria, CBN, has said that business enterprises are optimistic there would be improvement in the economy in the next six months. The CBN stated this in its Business Expectation Survey, BES, report for July. The report however showed that businesses expect the Naira to depreciate in the third […]
