Digital Skills to Power Nigeria’s Economy CBN Targets $1bn Monthly in Diaspora Financial Authorities to Track Digital Currencies President Bola Tinubu has directed Nigeria’s financial and capital market authorities to monitor the growing use of stablecoins and digital currencies. Speaking at the 18th Annual Banking and Finance Conference in Abuja, the president, represented by Finance … Read more
CBN Reforms, Diaspora Trust Driving Remittance Surge – Dabiri-Erewa Dabiri-Erewa described the jump in remittance inflow as “humongous” “Our exchange rate is becoming a lot more competitive” – Cardoso Hon. Abike Dabiri-Erewa, Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), has hailed the recent surge in diaspora remittances as a major boost to Nigeria’s economy, … Read more
The Central Bank of Nigeria (CBN) has clarified that its Early Exit Package (EEP) is voluntary, with no negative consequences for eligible staff members who choose not to participate. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce Shortage Crisis Erupts at Celestial Church of Christ in Lagos Over N5m Donation EFCC Alleges Nigerian … Read more
The Central Bank of Nigeria (CBN) is set to retire approximately 1,000 employees as part of a strategic workforce realignment under the leadership of Governor Olayemi Cardoso. A severance package exceeding ₦50 billion has been allocated for this initiative. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce Shortage Crisis Erupts at Celestial Church … Read more
The Central Bank of Nigeria (CBN) on Friday advised bank customers to report any difficulties withdrawing cash from bank branches or ATMs to the apex bank from December 1. CBN Governor, Olayemi Cardoso, said this during the 2024 annual bankers dinner in Lagos organised by the Chattered Institute of Bankers of Nigeria (CIBN) He urged … Read more
The Central Bank of Nigeria, CBN, has assured banks of a steady cash supply to address shortages nationwide. CBN governor, Olayemi Cardoso, gave this assurance on Tuesday at a press briefing after the 298th monetary policy committee, MPC, meeting in Abuja. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce Shortage Crisis Erupts at … Read more
The Central Bank of Nigeria (CBN) has begun the process of appointing new directors to replace those who were relieved of their positions, including several who retired approximately 11 months ago. An internal advertisement published by the apex bank, which was reviewed by Daily Trust, provided this information. The advertisement indicates that the CBN is … Read more
The Central Bank of Nigeria (CBN) has appointed a new Managing Director and Chief Executive Officer (CEO) for the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL), along with new board members. Jude Nnadozie, Head of Corporate Communications at NIRSAL Plc, confirmed the appointments in a recent statement. Babajide Arowosafe has been named the … Read more
The Central Bank of Nigeria (CBN) has dismissed all executive directors of the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL) as part of a comprehensive restructuring at the apex bank. The decision, approved on Friday by CBN Governor Olayemi Cardoso, is the latest in a series of significant personnel changes since he took … Read more
Senator Isah Jibrin confirmed that the Senate’s investigation into the ₦30 trillion Ways and Means loans from the CBN is ongoing, dispelling rumors of abandonment. Senator Isah Jibrin, Chair of the Senate committee investigating the ₦30 trillion Ways and Means loans obtained by the Federal Government from the Godwin Emefiele-led Central Bank of Nigeria (CBN), … Read more
CBN Governor Olayemi Cardoso suggests maintaining high interest rates to tackle inflation. Nigeria’s inflation rate stands at 33.2%, with food inflation even higher at 40%. Cardoso emphasizes the Monetary Policy Committee’s commitment to curbing inflation. EKO HOT BLOG reports that the Central Bank of Nigeria Governor, Olayemi Cardoso, has suggested that the institution will maintain high … Read more
Fintechs, including Opay and PalmPay, are discouraging crypto trading on their platforms. Their actions follow a CBN directive to the digital banks to stop onboarding new customers. There are concerns that the fintechs are being used for money laundering and terrorism financing. Eko Hot Blog reports that Nigerian fintech companies have cautioned their customers against … Read more
Eko Hot Blog reports that the Cardoso-led Central Bank of Nigeria (CBN), has sacked a fresh batch of 40 staff mostly from the Development Finance Department (DFD), in furtherance of its ongoing restructuring. According to Daily Trust report, deputy directors and assistant directors were mostly affected with 22 from the DFD and the remaining 18 … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate, which benchmarks interest rates, from 22.75 percent to 24.75 percent. The CBN Governor, Olayemi Cardoso, disclosed this on Tuesday at the 294th meeting of the Monetary Policy Committee (MPC) press briefing in Abuja. Editor’s Picks Fake News Alert: … Read more
Eko Hot Blog reports that the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the apex bank will halt its Ways and Means loans to the Federal Government. Cardoso made this known on Friday during an appearance before the Senate Committee on Banking, Insurance and other Finance Institutions, in Abuja. Ways … Read more
Eko Hot Blog reports that Dr Olayemi Cardoso, the newly confirmed governor of the Central Bank of Nigeria (CBN) has declared that the apex bank, under his leadership, will not be hijacked by any politician. Cardoso stated this while reacting to a question by Senate President Godswill Akpabio if he would be “influenced” or “hijacked” … Read more
Eko Hot Blog reports that The President of the 10th Senate, Godswill Akpabio has accused the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, of attempting to sabotage the conduct of the last general election with the introduction of the naira redesign policy. EDITOR’S PICKS Ogun Records Cholera Outbreak, Warns Residents Mohbad’s … Read more
EKO HOT BLOG reports that the Senate on Tuesday, September 26, resumed plenary after its six weeks annual vacation. Senate president, Godswill Akpabio led a procession of principal officers into the chamber at about 11.40 a.m. after which he said the opening prayers. EDITOR’S PICKS Ogun Records Cholera Outbreak, Warns Residents Mohbad’s Mother Insists … Read more
Eko Hot Blog reports that the acting Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso on Friday formally resumed duties at the headquarters of the apex bank in Abuja This follows the resignation of Mr. Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, Embattled former CBN Governor … Read more
A modern complex is set to shoot out of the rubble of ruins at the Lagos State High Court in Igbosere. Eko Hot Blog reports that Governor Babajide Sanwo-Olu, on Monday, performed the sod turning for the redevelopment of the oldest courthouse in the country, two years after the iconic colonial vestige was razed by … Read more