How CBN is sacrificing FX savings for Naira stability
Business
9 views
Business
9 views

How CBN is sacrificing FX savings for Naira stability

Webby - June 28, 2019

The Central Bank of Nigeria is said to have spent a whopping $2.04 billion alone in May to sustain the improved liquidity and relative stability in the…

Banks threaten to close accounts without BVN
Business
12 views
Business
12 views

Banks threaten to close accounts without BVN

Webby - June 27, 2019

With about 34.728m accounts yet to be linked to the Bank Verification Number (BVN) since its introduction in 2014, commercial banks and other financial institutions have decided…

MAN backs CBN over policy on smuggling
Business
16 views
Business
16 views

MAN backs CBN over policy on smuggling

Webby - June 21, 2019

The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Kadiri, has expressed the association’s full support for the Central Bank of Nigeria’s policy on smugglers. This…

NCC, CBN express concerns over Barclays’ handling of 9mobile sale
Business
21 views
Business
21 views

NCC, CBN express concerns over Barclays’ handling of 9mobile sale

Webby - November 22, 2017

The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have questioned Barclay Africa over the handling of sale process of 9mobile, National Daily. A…

CBN retains interest rate, calls for quick passage of 2018 budget
Business
34 views
Business
34 views

CBN retains interest rate, calls for quick passage of 2018 budget

Webby - November 21, 2017

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has retained the monetary policy rate at 14 percent. The apex bank also left the…

NCC, CBN sign MOU on mobile money operations
Business
43 views
Business
43 views

NCC, CBN sign MOU on mobile money operations

Webby - November 2, 2017

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have signed a memorandum of understanding with respect to mobile money. Executive Vice Chairman of the Commission…

IMF warns Nigeria against refinancing local debts with foreign loans
Business
38 views
Business
38 views

IMF warns Nigeria against refinancing local debts with foreign loans

Webby - November 1, 2017

The International Monetary Fund (IMF) has warned the federal government any attempt to refinance local debts with low interest foreign facility will expose the economy to exchange…

Naira remains stagnant despite $480m intervention
Business
32 views
Business
32 views

Naira remains stagnant despite $480m intervention

Webby - October 30, 2017

External reserves hit $33.6bn By Odunewu Segun Nigeria’s Naira remained stagnant in the foreign exchange market over the weekend despite the $480.7 million intervention by the Central…

Expert tackles Emefiele over inflation rate promises
Business
39 views
Business
39 views

Expert tackles Emefiele over inflation rate promises

Webby - October 30, 2017

Central Bank of Nigeria’s (CBN) Governor, Godwin Emefiele speculative statement at the weekend that he expected inflation rate to fall at a faster pace and hit high…

Naira maintains stability as CBN sells $285.70m
Business
48 views
Business
48 views

Naira maintains stability as CBN sells $285.70m

Webby - October 28, 2017

By Odunewu Segun The Central Bank of Nigeria (CBN) on Friday injected $285.7 million into the Inter-bank foreign exchange market in order to ease the pressure of…

BVN: Newly-weds, rural dwellers most hit
Business
35 views
Business
35 views

BVN: Newly-weds, rural dwellers most hit

Webby - October 25, 2017

Newly wed couples, especially those that got married in traditional way without official marriage certificate are those that are mostly affected Major victims of the court ruling…

 CBN consolidates market stability with $195m
Business
39 views
Business
39 views

 CBN consolidates market stability with $195m

Webby - October 24, 2017

By Chioma Obinagwam The Central Bank of Nigeria (CBN) on Monday, October 23, 2017, injected the sum of $195million into the inter-bank Foreign Exchange Market. Figures obtained…

BVN: Banks to close 45 million unlinked accounts
Business
32 views
Business
32 views

BVN: Banks to close 45 million unlinked accounts

Webby - October 20, 2017

About 45 million customers’ accounts with various banks and OFIs risk being closed down following their non-compliance with the Bank Verification Number (BVN) exercise. This is coming…

Former CBN boss urges Nigerians to invest more in governance
Business
24 views
Business
24 views

Former CBN boss urges Nigerians to invest more in governance

Webby - October 20, 2017

By Odunewu Segun Nigerians have been advised to invest more in the governance of the country by asking questions, and making sure they participate fully in every…

CBN: Forex retail market gets another $306 million boost
Business
27 views
Business
27 views

CBN: Forex retail market gets another $306 million boost

Webby - October 16, 2017

Players in the retail segment of the Nigerian interbank foreign exchange (forex) market received a $306.3 million boost from the Central Bank of Nigeria (CBN) recently following…

Cash squeeze bites harder as overnight rate drops to 20%
Business
36 views
Business
36 views

Cash squeeze bites harder as overnight rate drops to 20%

Webby - October 13, 2017

Nigeria’s overnight lending rate has dropped to 20 percent amidst expectation that a cash squeeze will ease after money market rates more than doubled previous session. Nigeria’s…

CBN to boost employment through lending
Business
50 views
Business
50 views

CBN to boost employment through lending

Webby - October 9, 2017

By Chioma Obinagwam Concerned about rising unemployment rate, the Central Bank of Nigeria (CBN) reached a decision at the Bankers’ Committee meeting held in Lagos, recently to…

Fuss over Aishah Ahmad qualifications for CBN job is baseless – Okuofu
Headlines
60 views
Headlines
60 views

Fuss over Aishah Ahmad qualifications for CBN job is baseless – Okuofu

Webby - October 9, 2017

By Odunewu Segun An economist and management consultant, Osilama Okuofu has debunked the claim going round that the newly appointed deputy governor of the Central Bank of…

Forex: CBN threatens exporters
Business
35 views
Business
35 views

Forex: CBN threatens exporters

Webby - October 7, 2017

The Central Bank of Nigeria (CBN) is threatening to sanction exporters who fail to repatriate foreign exchange (forex) proceeds from their businesses into the economy. CBN Director (Banking Supervision)…

Repatriation of Forex: CBN to sanction defaulting exporters
Business
46 views
Business
46 views

Repatriation of Forex: CBN to sanction defaulting exporters

Webby - October 6, 2017

By Chioma Obinagwam The Central Bank of Nigeria (CBN) has said it will sanction exporters who fail to repatriate Forex generated in the newly introduced Export Intervention…