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...
Godwin Emefiele
An economist, Prof. Evans Osabuohien says the increase of Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) Central Bank of Nigeria (CBN) will further put pressure on already pressured private sector. Osabuohien made this known in an interview with the News Agency of Nigeria (NAN) in Ota,...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) from 14 per cent to 15.5 per cent on Tuesday to tame inflation. The committee had increased the MPR by a total of 250 basis points at its last two...
The National Assembly has summoned the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele to appear before it on Thursday on the state of the award of scanners that had been adjudged not functional.n The Comptroller- General...
The Central Bank of Nigeria (CBN’s) strategy of an efficient payment system through the introduction and implementation of the e-Naira is a laudable effort that is contributing to the success of our digital economy. According to the Buhari Media Organisation (BMO), the Central Bank Digital Currency (CBDC), also known...
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...
Some stakeholders have commended the Central Bank of Nigeria (CBN) for injecting $265million into the nation’s aviation sector. This action, the stakeholders said would bailout some of the foreign airlines out of the shortage of dollars . The News Agency of Nigeria(NAN) reports that the apex bank, on Friday,...
In recent decades, Nigeria’s economy can best be described as mono-cultural as it is largely run from foreign exchange from the oil sector. However, this source of income has become unpredictable due to a number of reason that disrupt the market. Some of these factors include conflicts in oil...
The Central Bank of Nigeria (CBN), digital currency, eNaira has recorded 200,000 volumes and four billion Naira value of transactions since its inauguration in 2021. Mr Godwin Emefiele, the CBN Governor said this on Thursday in Abuja at the grand finale of the “eNaira Hackathon”. The News Agency of...
By KADIRI ABDULRAHMAN – In recent times, the paucity of foreign exchange in the Nigerian economy has been of concern to many Nigerians. Some believe that the heavy dependence on crude oil sales, with its volatility, is responsible for the shortage of foreign exchange earnings for the Nigerian financial...
The Association of Bureaux Des Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to float the Naira to halt its further depreciation. The President of ABCON, Alhaji Aminu Gwadabe, made the appeal on Saturday in an interview with the News Agency of Nigeria (NAN)...
In the face of rising demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has advised Nigerians to resist the urge of succumbing to the speculative activities of some players in the foreign exchange market. Speaking with newsmen in Abuja on...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday increased the Monetary Policy Rate (MPR) to 14 per cent from its initial 13 per cent. Reading a communiqué after the committee’s meeting in Lagos, Mr Godwin Emefiele, the CBN Governor, said the MPC also...
The Central Bank Governor, Mr. Godwin Emefiele will on July 21 inaugurate the multimillion naira Unilorin GgMAX Integrated Poultry Farm. The News Agency of Nigeria (NAN) reports that the farm is located at Amoyo in Ifelodun Local Government Area of Kwara. Prof. Mikhail Buhari, the Chairman of the Farm...
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said that the Monetary Policy Committee will chart a new course for an improved monetary policy and Central Bank of Nigeria (CBN) that will provide direction for monetary policy in Nigeria. The governor said this at a Monetary...
Registration for the eNaira hackathon, geared towards ideating innovative solutions for the newly launched digital currency, organised by the Africa Fintech Foundry (an innovative hub established to identify and accelerate innovative startups in Africa), in partnership with the Central Bank of Nigeria (CBN), is billed to open on June...
President Muhammadu Buhari says it’s not in his place to determine if the political ambition of Central Bank Governor, Godwin Emefiele, infringes on any laws that affects his productivity. Buhari stated this on Tuesday during his interview with Bloomberg. There have been debates around the central bank’s independence following...
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...
By EZEKIEL OBI, Abuja – Following the controversy surrounding the “supposed political ambition” of the governor of Central Bank of Nigeria (CBN), Godwin Emefiele, ahead of the 2023 general elections, the Human & Environmental Development Agenda (HEDA Resource Center) is seeking an interpretation of section 9 of the CBN...