CBN Governor’s Suspension: Heads must roll if…By Atedo Peterside
I don’t know if anything is true or false. What I do know is that in a presidential system, various aides and pressure groups try and pull the President towards the direction that they believe is best. Is that not why they even have lobbyists in Washington DC?
FCMB explains new CBN policies, bank’s products and services
In its support for the cashless initiative introduced by the Central Bank of Nigeria (CBN, First City Monument Bank (FCMB) Limited has commenced a nationwide customer forum to intimate them on the benefit of the scheme.
For how long will CBN continue to defend the naira?
Nigerians’ penchant for foreign goods has continued to put pressure on the nation’s external reserves and the exchange rate. In the last four months – April to August- a total of $14.95 billion left the shores of Nigeria as payments made by Central Bank of Nigeria on behalf of the public. Of this amount, cash sales to Bureaux de Change, where those who purchase foreign exchange in small quantity buy from, amounted to $2.2 billion while letters of credit for direct importation amounted to $157.5 million.
CBN to buck pressure to devalue naira – Spokesman
Central Bank of Nigeria, CBN will resist pressure to devalue the naira since it retains ample funds to defend the currency, its spokesman, Ugochukwu Okoroafor has said.
CBN to resist pressure to devalue naira
The Central Bank of Nigeria, yesterday, said it will resist pressure to devalue the naira since it retains ample funds to defend the currency.
CBN compels banks to buy dollars to halt naira depreciation
The Central Bank of Nigeria (CBN) on Friday compelled banks to buy dollars at N160.5 per dollar, in a bid to halt the four day depreciation of the naira at the interbank foreign exchange market. The unusual intervention forced the interbank exchange rate to N162.05 per dollar on Friday from N163.7 per dollar on Thursday, translating to 165 kobo appreciation for the naira.
