Introduction Between 23rd and 24th May 2022, the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) met and one of the key decisions taken by the MPC was to retain the Monetary Policy Rate (MPR) at 13.0%. The MPR is the rate at which the CBN lends to...
CBN
The CBN has increased its funding and interventions in various sectors to boost economic growth. Governor of the CBN, Mr Godwin Emefiele, said this on Tuesday in Abuja while presenting a communique issued at the end of the bank’s Monetary Policy Committee meeting. He said the intervention schemes were...
The Central Bank of Nigeria (CBN) has appealed to farmers who defaulted in paying back the loans obtained under the Anchor Borrowers’ Programme (ABP) to pay back. Mr Sadeeq Ajayi, in CBN Development Finance Office, made the appeal on Wednesday in Ibadan at the Agribusiness Innovation Clinic. The News...
Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, has come under heavy censure in recent weeks. Not that the multiple awards-winning central banker is new to scathing darts from critics. Indeed, he has always been pelted by outsiders, and in most cases, financial management illiterates who blame him for...
The Independent National Electoral Commission on Thursday said it would employ both the manual and electronic methods in the transmission of the 2023 elections results. The commission also said there is a possibility of moving sensitive materials from the Central Bank of Nigeria to another location. The chairman of...
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, says that Africa needs to finance her own growth. Emefiele said this at the Africa Finance Corporation (AFC) Live Infrastructure Solutions Summit held in Abuja on Thursday. He said that over the past two years, Africa had suffered...
President Muhammadu Buhari has directed all cabinet members wishing to contest elective posts in the 2023 general elections to resign their appointments on or before Monday. The Minister of Information and Culture, Alhaji Lai Mohammed, revealed this when he briefed State House correspondents on the outcome of the meeting...
The House of Representatives on Monday mandated the NNPC and the CBN to nip the planned strike by airline operators in the bud. It enjoined the two government agencies to provide the required assistance and declared that airline operators should name fuel marketer of their choice to supply them...
Gov. Aminu Tambuwal of Sokoto State has called on the Federal Government to effect the resignation of the CBN Governor, Godwin Emefiele. Tambuwal, a Presidential aspirant on the platform of PDP, made the call on Saturday, in Jalingo, shortly after interacting with the party delegates ahead of PDP presidential...
The Group Managing Director, Gum Arabic Company Nigeria (GACON), Mrs Adaku Chidume-Okoro, has appealed to the Federal Government to scale up efforts in encouraging non-oil export activities. Chidume-Okoro made the appeal at the two-day national conference on non-oil export, organised by the Nigerian Export Promotion Council (NEPC). The conference...
By Benjamin Orisemeke, Abuja – The Federal Government’s fiscal deficit hits a whopping N2.23 trillion in the fourth quarter of 2021, according to the Central Bank of Nigeria economic report for the last quarter of 2021. The report said the 12 per cent contraction in fiscal deficit followed a...
The Central Bank of Nigeria (CBN) Makurdi cash office is on fire. The cause of the fire is not known but fire fighters were yet to arrive the building located in old GRA in Makurdi as of the time of filing this report. The CBN building in Makurdi is...
The Electoral Hub, an advocacy group, has urged the Independent National Electoral Commission(INEC) anti-graft and financial institutions to monitor the 2023 campaign spendings. Ms Princess Hamman-Obels, Director of IRIAD, Electoral Hub in an interview with the News Agency of Nigeria (NAN) in Abuja said that the call was to...
MTN Nigeria, one of the leading Telecommunication firms in Nigeria, is set to begin a payment service bank. This comes after it got approval from Nigerian regulators to run a payment service bank, the wireless carrier said in a regulatory filing on Monday. “The date of commencement will be...
The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emiefele and Mr Temitope Ogunsemo, the founder of Krystal Digital Solutions L.td., have been listed in the Forbes Africa Undiscovered Series for Nigeria. Mr Uri Onojake of GLG Communications, a consultancy firm, made the disclosure in a statement on...
United Bank for Africa Plc (UBA) on Thursday assured shareholders and investors of its unwavering commitment to sustain its current growth trajectory. The Group Chairman, Tony Elumelu, gave the assurance at the 60th Annual General Meeting of UBA at the Transcorp Hilton Hotel, Abuja, monitored virtually in Lagos. He...
The Central Bank has fined four banks for flouting its directive on cryptocurrency transactions. The CBN had in February 2021 ordered all banks to close accounts of anyone who transacts in cryptocurrency. According to the CBN, dealing in cryptocurrency or facilitating payments for cryptocurrency exchanges is prohibited. In a...
The Central Bank of Nigeria (CBN) says it has disbursed N948 billion to 4, 478, 381 smallholder farmers under the Anchor Borrowers’ Programme (ABP) across the country. The Director, Corporate Communications Department, CBN, Mr Osita Nwanisobi disclosed this on Friday in Enugu during the ongoing Enugu International Trade Fair....
BY ANKELI EMMANUEL, Sokoto – A coalition under the auspices of Unified Northern Nigerian Youths Forum (UNNYF) has insisted that the 2023 presidency must be zoned to the south for the sake of equity and fairness.. The group in their concern warned that any northerner contemplating to succeed President...
The Central Bank of Nigeria (CBN) says it has disbursed N948 billion to 4,478,381smallholder farmers, to upscale food production in the country. The CBN Governor, Mr Godwin Emefiele disclosed this in Ado-Ekiti while delivering the 25th and 26th combined convocation lecture of the Ekiti State University (EKSU), on Monday...