The Central Bank of Nigeria has charged States Governors to ensure their States are economically visible. EkoHotBlog reports that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has urged State Governors to make their States viable for economic development. Emefiele who made the plea on Thursday, at the inauguration of the Rivers … Read more
On the effect of the Coronavirus pandemic, the MPC advised against another total lockdown stating that this will reverse most of the economic gains… The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has again voted to retain the monetary policy rate at 11.5 percent. The announcement was made by the CBN … Read more
The NAFEX window is a market trading segment for investors, exporters and end-users The Central Bank of Nigeria (CBN) has now pegged the exchange between naira and dollar to N410.25/$1. The new rate is sequel to the apex Bank adoption of the Nigerian autonomous foreign exchange (NAFEX) rate — further weakening the naira by 8 … Read more
On Friday, The CBN removed the exchange rate of N379/$1 from its website homepage. The central bank of Nigeria on Friday further devalued the naira in a move to unify exchange rate across board. Ekohotblog reports that the naira traded at a record low against the dollar at the official NAFEX window on Friday. The … Read more
Naira weakened against the US dollar to close at N411 to a dollar on Thursday representing a 50 kobo decline when compared to N410.5/$1 that was recorded on Wednesday. Meanwhile, Nigeria’s external reserve plunged $28.94 million to close at $34.76 billion on Wednesday. Naira weakened against the US dollar to close at N411 to a … Read more
It was a rude shock when I read in the news that the CBN dissolved the board of directors of First Bank and its holding company over the sack of the MD, Dr. Olusola Adeduntan, whose tenure was yet to be over. As I read the news, one name and face came to mind: Mrs. … Read more
Amaechi’s comments further exposed the cover-up that has followed Buhari’s widely condemned approach to the country’s economy… Minister of Transportation, Rotimi Ameachi has been caught on tape admitting that President Muhammadu Buhari has always ordered the Central Bank of Nigeria to keep printing money since 2015. Buhari vowed to revamp the Nigerian economy in his … Read more
“I am confident we have brought First Bank of Nigeria to a place where it is more than able to deliver” Ibukun Awosika, the former chairman of First Bank Nigeria Limited, says every step she took and decision she made when she held sway as the financial institution helmsperson was geared towards the growth of … Read more
The CBN alleged that Honeywell Flour Mill is enjoying unethical protection from First bank The Central Bank of Nigeria has given First Bank Nigeria Limited 48 hours ultimatum to retrieve loans given to Honeywell Flour Mill. The CBN said the move became imperative due to first bank failure to adhere to its orders. Ekohotblog had … Read more
The shareholders of the bank and FBN Holding Plc lacked the capacity to recapitalize the bank to minimum requirements.  The Central Bank of Nigeria (CBN) has fully weighed in on the fiscal and leadership crisis rocking First Bank Holding and First Bank Nigeria Limited. As part of the effort to reposition the and save … Read more
The Edo State Governor, Godwin Obaseki, had raised an alarm over Nigeria’s financial woes, alleging ₦60bn Was Printed To augment FAAC allocation to state governments for the month of March The National Economic Council (NEC) has affirmed that there was no printing of ₦60 billion or any other amount whatsoever to shore up allocation for … Read more
No fewer than nine suspects have been arrested in connection with the attack on the former governor of the Central Bank of Nigeria (CBN), Prof. Chukwuma Soludo. The Governor of Anambra State, Willie Obiano, at the Prof. Dora Akunyili Women’s Development Centre in Awka, on Wednesday, disclosed that nine suspected criminals had been arrested for … Read more
The Central Bank of Nigeria has ordered financial institutions and bureau de change operators to accept old and lower denomination U.S. dollars as legal tender. The apex bank gave the order in a circular signed by its Director of Currency Operations Department, Ahmed Umar. NAN reports that Umar said the CBN was inundated with complaints … Read more
Rivers State Governor, Nyesom Wike, says the claim by his Edo State counterpart, Godwin Obaseki, that the Federal Government printed about N60 billion to share by states in March cannot be regarded as spurious. The governor added that it was regrettable that instead of the CBN Governor, Mr. Godwin Emefiele, to address the issue raised … Read more
This follows last week’s declaration by the SEC that fintechs allowing Nigerians access to foreign securities were operating illegally. Nigeria’s Securities and Exchange Commission (SEC) says it is working with the Central Bank of Nigeria (CBN) for better understanding and regulation of cryptocurrencies in the country. SEC Director-General, Lamido Yuguda, said this at the 2021 … Read more
CBN gave support loans to states when the country was hit with a recession in 2016 – Emefiele Godwin Emefiele, Governor of the Central Bank of Nigeria, says the country is in an unfortunate situation under President Muhammadu Buhari’s administration. Emefiele said high unemployment rate, double digits inflation and rising debt profile have left the … Read more
The Central Bank of Nigeria (CBN) says it is planning to include sugar and wheat on the list of import items banned from accessing foreign exchange (FX). Godwin Emefiele, governor of CBN, gave the hint during an inspection tour of the proposed $500 million Dangote sugar processing facility in Nasarawa state on Thursday. In 2015, … Read more
The Central Bank of Nigeria (CBN) says Nigeria cannot stop borrowing, especially when it is necessary as it is part of fiscal responsibility. The CBN said there is no crime in borrowing, but that there should be monitoring and evaluation of the money borrowed and the purpose meant for. The Central Bank of Nigeria (CBN) … Read more
Three policemen attached to former Governor of the Central Bank of Nigeria (CBN), Prof Charles Soludo, were killed on Wednesday during an attack on him by gunmen. It was gathered the incident occurred around 5.30pm at the Civic Centre in Isuofia during a political gathering. Three policemen attached to former Governor of the Central Bank … Read more
The Senate Public Accounts Committee has given the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, up till Thursday, to appear before it over an alleged disappearance of $9.5m interest which accrued to the Federation Account from Petroleum Profit Tax Investment. The SPAC, which is currently scrutinising the reports of the AuGF, alleged … Read more