Central Bank of Nigeria (CBN) Governor, Mr. Yemi Cardoso, attributed the reduction in June’s headline inflation to stabilized energy prices and a steady foreign exchange market. Speaking in Abuja on Tuesday during the presentation of the 301st Monetary Policy Committee (MPC) communiqué, he highlighted key factors influencing the economy....
Central Bank of Nigeria (CBN)
Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 27.5%. CBN Governor Yemi Cardoso, announced this on Tuesday during a press briefing in Abuja following the 301st Monetary Policy Committee (MPC) meeting. Cardoso revealed that the decision to keep the lending rate unchanged was unanimous...
Central Bank of Nigeria (CBN) has addressed recent speculations regarding charges associated with the newly launched Non-Resident Bank Verification Number (NRBVN) platform. In a statement released by the Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi-Ali, the CBN assured the public that there are no hidden fees....
The Naira appreciated by ₦4.59 against the U.S. Dollar on Thursday, closing at ₦1,586.15 at the official foreign exchange market. Data from the Central Bank of Nigeria’s website showed that the Naira recorded a 0.28 per cent gain, indicating a slight but consistent upward trend. On Wednesday, the local...
The Ministry of Housing and Urban Development has officially taken delivery of a 753-unit housing estate formerly owned by the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele. Disclosing this in a statement on Tuesday, the ministry said that the property was handed over by the...
The Central Bank of Nigeria (CBN) has reassured the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. The CBN said this in a statement issued by its Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali According to Sidi-Ali, the attention of the CBN...
The Federal Capital Territory (FCT) High Court, Apo, Abuja, on Monday dismissed an application filed by the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, seeking to reclaim a vast estate in the city comprising 753 duplexes and apartments which has already been forfeited to the...
Group Managing Director, United Bank for Africa (UBA), Mr Oliver Alawuba, has said Nigeria requires a double-digit Gross Domestic Product (GDP) growth to achieve the projected one-trillion dollar economy target by 2030. Alawuba made this remark on Monday in Abuja, at the ongoing 36th Edition of the Finance Correspondents...
The Central Bank of Nigeria (CBN) has affirmed the preparedness of the Nigerians banks for the ongoing recapitalisation exercise. The Director of Banking Supervision Department, CBN, Dr Olubukola Akinwumi, gave this assurance on Monday in Abuja, at the ongoing 36th Edition of Finance Correspondents and Business Editors Association of...
The Central Bank of Nigeria (CBN), has said the recapitalisation of Nigerian banks is crucial to the march towards achieving a one-trillion dollar economy. CBN’s Deputy Governor, Corporate Services, Emem Usoro, said this on Monday in Abuja, at the ongoing 36th edition of the Finance Correspondents Association of Nigeria...
The Centre for the Promotion of Private Enterprises (CPPE) has urged the Central Bank of Nigeria (CBN) to adopt a framework that minimises volatility in the customs duty exchange rate. CPPE Founder, Dr Muda Yusuf, said in a statement on Wednesday in Lagos that this would boost investors’ confidence...
The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) has raised the Monetary Policy Rate(MPR) by four hundred basis points to 22.75 percent from 18.75 percent. Governor of the CBN Yemi Cardoso announced this after the first MPC meeting for the year in Abuja on Tuesday. “All...
The Central Bank of Nigeria (CBN), has scheduled its first Monetary Policy Committee (MPC) meeting with Yemi Cardoso as Governor for Monday and Tuesday. Some economic experts have projected that the benchmark interest rate known as the Monetary Policy Rate (MPR) would most likely be tightened...
A Federal High Court, Abuja, on Thursday, ordered the Central Bank of Nigeria (CBN) to pay a German, Martin Gegenheimer, the sum of N63.7million and $10, 000 awarded against the Federal Government for alleged unlawful arrest and detention by the Nigerian Immigration Service (NIS). Justice Inyang Ekwo, in...
The Central Bank of Nigeria (CBN) has announced an upward review of the Price Verification System (PVS) from 2.5 per cent to 15 per cent. According to a circular by Dr Hassan Mahmud, Director, Trade and Exchange Department of the CBN, this is in a bid to check...
President Bola Tinubu has sought the confirmation of Senate for the appointment of a Chairman and Members for the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC). Tinubu’s request was conveyed in a letter addressed to President of Senate, Godswill Akpiabio and read at plenary on Wednesday....
The Central Bank of Nigeria (CBN), has assured Nigerians that its digital currency. eNaira posed no threat to financial stability. The Director, Corporate Communications Department of CBN, Dr Isa AbdulMumin said this on Monday in Marrakech, Morocco. AbdulMumin was reacting to a recent media report that raised concerns...
Emu kingdom in Ndokwa West Local Government Area on Monday joined other 67 communities in Delta to enroll into the Central Bank of Nigeria (CBN) oil palm plantation development initiative in the country. The Secretary General, Delta State Commercial Oil Palm Plantation Growers Cooperation Society Limited (DELCOM COOP),...
The Central Bank of Nigeria (CBN) on Friday unveiled a series of fresh operational guidelines for forex sales by Bureau de Change (BDC) operators in the country. This is coming more than two years after the suspended CBN governor, Godwin Emefiele, announced the suspension of foreign exchange sales...