The Central Bank of Nigeria (CBN) says it will promote the establishment of InfraCo PLC with combined debt and equity take-off capital of N15 trillion to solely focus on infrastructure development as the country works towards mitigating the impact of COVID-19 on the economy. The Apex Bank Governor, Godwin Emefiele, in a 27-page policy response … Read more
The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 13.5 per cent. CBN Governor, Godwin Emefiele, announced the decision of the Monetary Policy Committee (MPC) after the two-day meeting which held at the apex bank’s headquarters in Abuja. According to Emefiele, all members of the committee had agreed to retain … Read more
The Central Bank of Nigeria (CBN) has made an alteration to the price of dollar sales. In a communique to all banks and Bureau De Change on Friday, the CBN advised that the BDC to end-user sales of the Dollar should not be more than N380/1USD. This is the highest official exchange rate between the … Read more
The Governor of the Central Bank of Nigeria, Godwin Emefiele has announced a N 1 .1 tn intervention fund to support critical sectors of the economy, including the fight against the deadly coronavirus. Emefiele made this known in a press statement made available to journalists and said it was imperative following the coronavirus pandemic. ” … Read more
The Governor, Central Bank of Nigeria (CBN) Mr Godwin Emefiele announced that the bank is reconsidering adding the importation of hand sanitizers amongst items not valid for foreign exchange (FX) from its official forex window. He said this while speaking at the ‘Going for Growth 2.0,’ roundtable that took place in Abuja. Emefiele said that … Read more
In a bid to enhance Africa’s overall development, Ministers of Finance and Governors of Central Banks in Africa will converge at Transcorp Hotel, Abuja from Monday, March 9 to Tuesday 10, 2020, for a Senior Policy Seminar on agriculture, aimed at promulgating a policy on how the continent would leverage research for agricultural development. The … Read more
Over N60 billion from erring banks has been recovered from excessive charges imposed on customers by the Central Bank of Nigeria (CBN) CBN further noted that of the recovered money have been processed and returned to affected customers The bank further announced that it had commenced the processes for 10million jobs creation in the next … Read more
Federal High Court, Akwa Ibom State has sentenced one Nwalozie Onyebuchi to a three-year jail term for parading himself as Dr. Godwin Emefiele, governor of Central Bank of Nigeria (CBN). He was charged by the Economic and Financial Crimes Commission (EFCC) on a count of impersonation and obtaining N4.5m under false pretense. Acting Head of … Read more
Nigeria’s apex bank, Central Bank of Nigeria, CBN, has increased the Cash Reserves Ratio, CRR, of banks from 22.5 per cent to 27.5 per cent. The alteration was done by the Monetary Policy Committee of the CBN. The Cash Reserve Ratio is the share of a bank’s total deposit that is mandated by the CBN … Read more
Cross River state government on Thursday signed a Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) and Rice Farmers Association of Nigeria (RIFAN) for the supply of multi- billion Naira rice seeds to farmers in Nigeria. The state Commissioner for Agriculture, Okon Nyong Owuna signed for the state while CBN representative, Tony … Read more
Access Bank Plc has been acknowledged as the Most Sustainable Bank in Nigeria for the third consecutive time at the 2019 Central Bank of Nigeria Sustainability Awards held at the 2019 Bankers Committee Gala Night in Ogere, Ogun State, Nigeria. The Bank was also awarded first position in other categories such as the ‘Most Sustainable … Read more
The Federal Competition and Consumer Protection Commission on Tuesday stopped the additional N50 charge currently being imposed on transactions conducted through Point of Sales Terminal. According The Punch, the FCCPC issued the directive in a statement personally signed by its Chief Executive Officer, Mr Babatunde Itukera and made available to newsmen in Abuja. Ekohotblog recalls … Read more
The Central Bank of Nigeria (CBN) has announced the deployment of Ahmed Bello Umar as the new Director, Currency Operations Department, with effective yesterday. Umar succeeds Mrs. Priscilla Ekwueme Eleje, who exited the bank having reached the statutory retirement age. A statement signed by the Director, Corporate Communications Department, Isaac Okorafor said Umar, until his … Read more
The Central Bank of Nigeria on Tuesday revealed that not less than N1.3 trillion was spent by the Federal Government on the importation of rice, fish, sugar and wheat in the last 12 months. The bank’s Deputy Governor, Corporate Services, Edward Lametek, spoke at a seminar organised for Finance reporters in Owerri, Imo State. Speaking … Read more
Ebonyi State Governor, David Umahi has declared support to the Federal Government’s closure of the nation’s borders, commending President Muhammadu Buhari for his courage in taking the action. Gov. David Umahi made the declaration on Monday at Onueke, Headquarters of Ezza South Local Government Area (LGA) while declaring open the Central Bank of Nigeria (CBN) … Read more
The Monetary Policy Committee (MPC) has left the benchmark Monetary Policy Rate (MPR) and other monetary policy tools unchanged to spur economic growth in the fourth quarter of the year. According to reports, the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele who disclosed this decision on Tuesday during a press conference at … Read more
….Commends Dangote Group, Others The Governor, Central Bank of Nigeria, Godwin Emefiele, has advised corporate bodies in the country to take advantage of the Presidential Order 7 to raise infrastructure bonds at concessionary rates to support the Federal Government in its desire to develop infrastructure in Nigeria. Emefiele gave the charge on Saturday during an … Read more
The Central Bank of Nigeria (CBN) has endorsed the Association of Corporate Treasurers of Nigeria (ACTN). Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN), Okwu Joseph Nnanna, made this known to the members of the Governing Council of ACTN during their courtesy visit to him in Abuja. READ ALSO: Inflation To Moderate In Three … Read more
Ecobank Nigeria has said it is partnering the All Africa Music Awards 2019 for the 6th edition of the programme in Lagos, as part of its initiatives to boost the creative sector. The bank, in a statement, described AFRIMA as an annual celebration of African talents from all regions of the continent. The Managing Director, … Read more
The Nigerian inter-bank foreign exchange market received another boost with an injection of about $210 million from the Central Bank of Nigeria (CBN) on Tuesday Details of the transactions showed the Bank offered $100 million to authorized dealers in the wholesale sector of the market. Another $55 million each was also allocated to the Small … Read more