By MBAFAN ADE, Abuja – Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mallam Mele Kyari, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, have reviewed the decision of the NNPC Ltd. to domicile a significant portion of its...
CBN
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria’s inflationary pressure will drop from 28.92 per cent to 21.4 per cent in 2024. Cardoso said this in Abuja on Tuesday when he addressed the House of Representatives. According to him, the projected decline...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says the value of the Naira is determined by the availability of foreign exchange. Cardoso said this on Tuesday in Abuja while addressing the House of Representatives on Naira depreciation and the instability in the foreign exchange...
The Minister of Finance, Mr Wale Edun, and the Minister of Budget and National Planning, Atiku Bagudu, have assured Nigerians that the high cost of living being witnessed by Nigerians is currently being addressed. Mr Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), and Mr...
The Independent Media and Policy Initiative (IMPI), says the new policies introduced by the Central Bank of Nigeria (CBN) will help stabilise the Naira in the foreign exchange market. Mr Niyi Akinsiju, the Chairman of the Non Governmental Organisation (NGO), said this in a statement on Sunday in...
Against the backdrop of the current forex crisis in Nigeria and apparent move to restore the value of the Naira, the Central Bank of Nigeria (CBN) has warned against the use of foreign currencies in the domestic economy as a means of payment for goods and services by...
Following recurrent freefall of Naira in the Foreign Exchange (Forex) market, the Federal Government has assured Nigerians that it will implement macroeconomic reforms to stabilise the market. The Minister of Information and National Orientation, Mohammed Idris, gave the assurance on Saturday in Minna, at the 2024 Press Week...
The Central Bank of Niger , has removed allowable limit of exchange rate quoted by the International Money Transfer Operators (IMTOs). This is according to a circular signed by Dr Hassan Mahmud, the Director, Trade and Exchange Department of the CBN, addressed to IMTOs and the general public....
Bank customers resident in the Federal Capital Territory (FCT) have decried the continuous fall of the naira to the dollar. According to them, their purchasing power have reduced drastically. The News Agency of Nigeria (NAN) reports that one dollar to Naira exchange rate at the parallel market is...
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) says it has released 500 million dollars to various sectors in its determination to address the backlog of verified foreign exchange transactions. The Acting CBN Director, Corporate Communications Department, Mrs Hakama Sidi-Ali, said this in a statement on...
By DAVID IORJA, Abuja – The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, said the administration of President Bola Tinubu is not planning to relocate the Federal Capital Territory (FCT) from Abuja to Lagos State. Recalled that the federal government had announced the...
Sen. Karimi Sunday (APC-Kogi), has justified the relocation of some departments of the Central Bank of Nigeria (CBN) and Federal Airports Authority of Nigeria (FAAN) from Abuja to Lagos by the Federal Government. Sunday, who represents Kogi-West at the National Assembly, stated this in a statement on Wednesday...
Justice Lewis Allagoa of a Federal High Court in Lagos on Wednesday, dismissed a suit filed by rights activist Chief Femi Falana (SAN) challenging a purported sale of Polaris Bank Justice Allagoa dismissed the suit following an application by the learned silk, seeking to discontinue same before the...
The Central Bank of Nigeria (CBN) has paid approximately $2 billion across various sectors, including manufacturing, aviation, and petroleum in its bid to clear the backlog of outstanding foreign exchange liabilities. The apex bank said it has also cleared up the entire liability of 14 banks and...
A Financial Expert, Mr Okechukwu Unegbu, has said the planned relocation of some key departments of the Central Bank of Nigeria (CBN) to Lagos was for administrative convenience. Unegbu, a past President of the Chartered Institute of Bankers of Nigeria (CIBN), said this in an interview with the...
The Chief Executive Officer of Arvofinance, Mr Ayotunde Bally, has said the lifting of the ban on cryptocurrency trading in Nigeria has the potential to boost the economy and offer financial opportunities. Bally said this while speaking with the News Agency of Nigeria (NAN) on Thursday in Lagos....
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN), has appointed new executives for Keystone, Polaris and Union Banks, following dissolution of the board and management of the banks. CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali disclosed this in a statement issued on Wednesday in...