N50 stamp duty on transactions: Salary accounts exempted, says CBN
Payments of salaries and wages as well as payments and deposits for self-to-self transactions whether inter or intra bank are exempted from the N50 stamp duty policy, the Central Bank (CBN) has said.
The bailout the economy needs
During the inauguration of his cabinet, President Muhammadu Buhari last week commended the Central Bank of Nigeria (CBN) for assisting more than 30 states of the federation with concessionary loans to offset salary arrears for their workers. The President observed that the Bank also implemented country-specific and innovative policies that had helped to stabilise the exchange rate and conserve the nation’s reserves.
BVN will change spending habit by 2016 – Chams
Sir Ademola Aladekomo, Group Managing Director, Chams Plc., on Wednesday said that by 2016, many Nigerians would change the way they transfer and use money because of the Bank Verification Number (BVN) project.
We have no business with your bailout funds, APC tells Kogi Govt.
The All Progressives Congress (APC) has described as cheap blackmail the decision by the Kogi State government and the PDP Governors’ Forum to blame political interference for the delay in releasing bailout funds for the state.
CBN overrules FRCN
Last week, I criticised the Financial Reporting Council of Nigeria, FRCN, for suspending the Chairman (Mr Atedo Peterside), Group Managing Director (Mrs Sola David-Borha) and other senior personnel of Stanbic IBTC.
BVN: CBN extends enrollment for Diaspora bank customers
The Central Bank of Nigeria (CBN) has extended the timeline for Nigerian bank customers in the Diaspora to enroll for their Bank Verification Numbers (BVN) to January 31, 2016.
CBN refuses to devalue Naira, plans PAVE
Governor, Central Bank of Nigeria, CBN, Mr. Goodwin Emefiele has restated that the CBN will not devalue the Naira anytime soon to revive the falling economy.
FG downgrades economic growth projections to 2.6%
There is indication that the Federal Government may have effected a massive cut in the 2015 economic growth rate projections amidst faltering economic performance indices.
No further devaluation of Naira, CBN replies Sanusi
THE Central Bank of Nigeria (CBN) has dismissed the call for further devaluation by the Emir of Kano, and immediate past Governor of the bank, Mallam Muhammad Sanusi II, saying there would be no further devaluation of the naira.
No further devaluation of the Naira, CBN replies Sanusi
The Central Bank of Nigeria (CBN) yesterday dismissed the call for further devaluation by the Emir of Kano, and immediate past Governor of the bank, Mallam Muhammad Sanusi II, saying there would be no further devaluation of the naira.
Between controls and free forex market
AT the recent Financial Times Africa Summit in London Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele, defended his foreign exchange policy, which has tended towards administrative controls since the begining of this year. He had contended that the policy had so far ensured relative stability in the foreign exchange market and the value of the Naira against major world currencies.
