The Central Bank of Nigeria (CBN) in collaboration with Bizi Mobile Cashless Consult, on Friday sensitised ‘Keke Napep,’ tricycle riders and their customers at Oshodi Market on how to onboard the eNaira app. Traders in wears, shoes, kitchen items, among other commodities, were encouraged to open the eNaira wallet...
CBN
By CALLISTUS OFFOR, Abuja – The Central Bank of Nigeria (CBN) has unveiled a programme of events to commemorate the first anniversary of the launch of Africa’s First Central Bank Digital Currency (CBDC) tagged the “eNaira”, which was formally launched by President Muhammadu Buhari at the State House, Aso...
The Central Bank of Nigeria (CBN) and the has announced the sale of Polaris Bank to a new core investor, Strategic Capital Investment Ltd. (SCIL). A statement signed by Mr Osita Nwanisobi, Director, Corporate Communications and posted on CBN website on Thursday, said the sale was concluded after a...
Speaker of the House of Representatives, Femi Gbajabiamila, has scheduled a roundtable for Oct. 20 with the Central Bank of Nigeria (CBN) Governor and the Minister of Finance over the crisis in the aviation sector. Gbajabiamila said this at the end of a meeting with stakeholders in the aviation...
Vice President Yemi Osinbajo says a more market driven approach will be best for Nigeria’s exchange rate management as it will boost confidence and inwards flows. Osinbajo made this submission in his presentation at the 3rd Ministerial Performance Review Retreat for Ministers, Permanent Secretaries and top Government Functionaries on...
Vice President Yemi Osinbajo says efforts are underway to provide electricity metres for additional six million households in Nigeria. Osinbajo disclosed this in his presentation at the 3rd Ministerial Performance Review Retreat for Ministers, Permanent Secretaries and top Government Functionaries on Monday at the State House Banquet Hall, Abuja....
Angola and Libya have for the second consecutive month maintained their lead over Nigeria as Africa’s highest crude oil producers, according to a report by the Organisation of the Petroleum Exporting Countries (OPEC). OPEC said this in its Oil Market Report for October, which was obtained by the News...
The House of Representatives has directed the Central Bank of Nigeria (CBN) to immediately suspend the sale of Polaris Bank Plc. The House said the suspension should be until the CBN deposit Insurance Corporation and the Asset Management Corporation of Nigeria concluded all processes for open, transparent, and competitive...
The Central Bank of Nigeria (CBN), says it is committed to initiating programmes and policies aimed at supporting Small and Medium Enterprises (SMEs) in Nigeria. Mr Osita Nwanisobi, CBN’s Director, Corporate Communications, said this on Thursday at the apex bank’s special day at the 17th Abuja International Trade Fair....
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) says banks’ Unstructured Supplementary Service Data (USSD) debt has increased to N80 billion from N42 billion reported in 2021. The President of ALTON, Mr Gbenga Adebayo, disclosed this during the ICT Growth Conference 2.0. organised by the Nigeria Information Technology...
The Naira appreciated slightly against the dollar at the Investors and Exporters window on Monday as it exchanged at 436. The rate represents a 0.08 per cent appreciation compared to the N436.33 for which the dollar exchanged Sept. 23. The open indicative rate closed at N435.67 to the dollar...
As the Central Bank of Nigeria (CBN) holds its Monetary Policy Committee (MPC) meeting on Monday, some stakeholders project a hike in policy rates. This is against the backdrop of global monetary policy trend, which has seen the American Central Bank (The Fed), and the Bank of England increasing...
When the Central Bank of Nigeria (CBN) introduced its digital currency, the eNaira in October 2021, the idea was to create an alternative to the fast growing cryptocurrencies being patronised by Nigerians. According to European Central Bank, e-money, broadly speaking, is an electronic store of monetary value on a...
The Crude Oil Refiners Association of Nigeria (CORAN), the umbrella body of indigenous crude oil refiners, has appealed to the Central Bank of Nigeria(CBN) to create crude refinery intervention fund for its members. Its Secretary, Mr Olusegun Ilori, made the appeal in a statement on Wednesday after a visit...
The Naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging at N434.75. The figure represents a decrease of 0.75 per cent, compared with N431.50 to the dollar at the close of business Sept. 2. The open indicative rate closed at N431.30 to the dollar...
A Plateau High Court, on Monday in Jos, discharged and acquitted Sen. Jonah Jang and Mr Yususf Pam of N6.3 billion corruption charges proffered against them by the Economic Financial Crimes Commission (EFCC). Jang, a former governor of Plateau and Mr Yusuf Pam, a former cashier in the office...
By EZEKIEL OBI, Abuja – The Nigerians in Diaspora Commission (NiDCOM) has commended diaspora contributions to Nigeria’s economy as diaspora remittances increased by 20.3 per cent in the first quarter of 2022. NiDCOM chairman, Mrs Abike Dabiri-Erewa, gave the commendation in a statement issued by Alhaji Abdur-Rahman Balogun, Head...
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji, says there is urgent need to diversify the Nigerian economy to spur growth. Nnaji made the call on Saturday, at the 33rd Seminar for Finance Correspondents and Business Editors in Abuja. She said that...
Dr Abiodun Adedipe, Chief Consultant B. Adedipe Associates Ltd., has called for a deliberate alignment of policies across fiscal, monetary, commercial and industrial planks, to stop the country’s dependence on crude oil. Adedipe made the call at the 33rd Seminar organised by the Central Bank of Nigeria (CBN) for...
The Central Bank of Nigeria (CBN) says it is leading the drive towards diversifying the nation’s economy away from oil through its numerous interventions. Mr Godwin Emefiele, Governor of CBN, said this at the 33rd Seminar organised by CBN for the Finance Correspondents and Business Editors on Saturday in...