No short cut to naira appreciation, says Nwoko
Sen. Ned Nwoko, has advised the Federal Government and the Central Bank of Nigeria (CBN) against any measures that is capable of `artificially` forcing […]
CBN
Naira loses 6% against dollar at official market
The Naira on Monday slightly depreciated at the official market, trading at N1,234.49 to the dollar. Data from the official trading platform of the […]
Naira abuse: Expert urges EFCC to also go after treasury looters
A financial expert, Mr Okechukwu Unegbu, has urged the Federal Government to dissipate more effort in arresting and prosecuting politicians accused of looting the […]
CBN reduces bank’s LDR to 50% to improve real sector lending
The Central Bank of Nigeria (CBN) has reduced the Loan-to-Deposit Ratio (LDR) of deposit money banks from 65 per cent to 50 per cent. […]
CBN warns bank customers against using Forex as collateral for naira loans
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has warned bank customers to desist from using foreign currency as collateral for […]
CBN approves daily sales of $10,000 to 1,588 BDC operators
The Central Bank of Nigeria (CBN) has approved daily sales of 10,000 dollars to 1,588 eligible Bureau De Change operators at the rate of […]
Fresh squabbles rock First Bank’s board, threaten recapitilisation
A fresh round of squabbles is rocking the board of First Bank of Nigeria, a development shareholders fear poses major threat to the bid by […]
CBN’s aggressive monetary policy tightening will boost foreign investment, strengthen Naira – Expert
A renowned Economist, Prof. Ken Ife, says aggressive monetary policy tightening adopted by the Central Bank of Nigeria (CBN) will attract foreign portfolio investments […]
Increased capital requirements for banks will boost risk management – CCPE boss
The founder of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has said the upward adjustment of capital requirements for […]
Sustained CBN’s monetary policy integral to strengthening Naira – BDCs boss
The President, Association of Bureau De Change of Nigeria (ABCON), Aminu Gwadabe, has said the recent monetary policy decisions of the Central Bank of […]
CBN raises bank’s capital requirement from N25bn to N200b
The Central Bank of Nigeria (CBN), has increased the minimum capital requirement for Deposit Money Banks (DMBs) with national licences from N25 […]
Reps query OAGF’s payment of N15bn to Remita, accuse CBN of complicity
The House of Representatives Public Accounts Committee (PAC) has queried the payment of N15 billion to Remita, a payment platform from the Office of […]
Naira gains 6% at official market
The Naira appreciated against the dollar by 5.97 per cent at the official market by the close of Wednesday’s trading session, according to data […]
Inflation targeting: CBN again raises benchmark interest rate to 24.75%
The Central Bank of Nigeria (CBN) on Tuesday announced further tightening of the monetary policy by raising the Monetary Policy Rate (MPR) by […]
Naira appreciates by 1.5% against dollar
The Naira experienced a slight appreciation at the official market, trading at N1,431.49 to a dollar on Friday. Data from the official trading […]
Senate Committee meets Service Chiefs over killing of 16 soldiers
The Senate Joint Committee on Defence, Army, Navy and Air Force on Wednesday in Abuja met with the Service Chiefs over the killing of […]
CBN clears ‘valid’ FX transactions to eliminate legacy backlog
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of s$7 billion have now been settled, fulfilling a key […]
Senate tasks committee on thorough investigation of N30trn “Ways and Means” funds
Senate has urged its ad-hoc committee to ensure thorough investigation of the N30 trillion “Ways and Means” disbursed by Central Bank of Nigeria(CBN)during administration […]
CBN to sanction Microfinance Banks over late, non rendition of statutory monthly returns
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has urged all Microfinance Banks (MfBs) to ensure prompt rendition of statutory monthly returns […]
CBN reports increased forex inflow as remittances quadruple to $1.3bn
The Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflow into the economy in February. Acting Director, Corporate […]