Central Bank of Nigeria

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1h
AllAfrica.com
FG Suffers Revenue Shortfall of N423 Billion to Low Oil Prices, Pipeline Vandalismrevenue in April 2016, fell short of the provisional monthly budget estimate of
FG Suffers Revenue Shortfall of N423 Billion to Low Oil Prices, Pipeline Vandalism
AllAfrica.com / Posted an hour ago
revenue in April 2016, fell short of the provisional monthly budget estimate of N814.87 billion by tN423.54 billion The Central Bank of Nigeria (CBN), which made this disclosure in its April Economic Report, stated that it was also lower than... Read more
1h
AllAfrica.com
Officially in Recessioneconomy is in recession after three straight quarters of negative growth. Her r
Officially in Recession
AllAfrica.com / Posted an hour ago
economy is in recession after three straight quarters of negative growth. Her remarks came a day after Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele told a closed door session of the Senate that foreign currency inflow dropped... Read more
6h
AllAfrica.com
Ray of Hope for Wema Bankfrom companies for the H1. Apprehension among investors in banks is very high d
Ray of Hope for Wema Bank
AllAfrica.com / Posted 6 hours ago
from companies for the H1. Apprehension among investors in banks is very high due to the policy tightening by the Central Bank of Nigeria (CBN) that has affected their earning capacity. Although some of them surpassed expectations in the... Read more
22h
AllAfrica.com
Criticism Trails CBN's Decision to Hike MPR to 14%Emma Ujah, Abuja Bureau Chief, Babajide Komolafe & Peter Egwuatu ABUJA--The Ce
Criticism Trails CBN's Decision to Hike MPR to 14%
AllAfrica.com / Posted 22 hours ago
Emma Ujah, Abuja Bureau Chief, Babajide Komolafe & Peter Egwuatu ABUJA--The Central Bank of Nigeria(CBN), yesterday, jerked up its Monetary Policy Rate (MPR)to 14 per cent, attracting criticism from business experts who predicted that the hike will... Read more
22h
AllAfrica.com
Central Bank Raises Interest Rate to 14 PercentBy Chris Agabi and Sunday Michael Ogwu Lagos — Rising from its 251st Monetary
Central Bank Raises Interest Rate to 14 Percent
AllAfrica.com / Posted 22 hours ago
By Chris Agabi and Sunday Michael Ogwu Lagos — Rising from its 251st Monetary Policy Committee (MPC), the Central Bank of Nigeria (CBN) announced an increase in the benchmark interest rate by 200 basis points, from 12 to 14 percent. Announcing the... Read more
23h
AllAfrica.com
Fraud Volume Increases By 683 Percentintroduction of the BVN and improved collaboration among banks via the fraud de
Fraud Volume Increases By 683 Percent
AllAfrica.com / Posted 23 hours ago
introduction of the BVN and improved collaboration among banks via the fraud desks. The report, unveiled yesterday by the Central Bank of Nigeria, said in spite of the challenging economy, the use of e-channel platforms -Internet banking, Mobile... Read more
1d
AllAfrica.com
Reasons Behind Poor Access to Funds By SMEsCredit Guarantee Scheme (SMECGS) was established by the government. In spite o
Reasons Behind Poor Access to Funds By SMEs
AllAfrica.com / Posted yesterday
Credit Guarantee Scheme (SMECGS) was established by the government. In spite of the huge intervention funds from the Central Bank of Nigeria (CBN) and development institutions aimed at helping Small and Medium Enterprises (SMEs) to grow, a... Read more
1d
AllAfrica.com
CBN Raises Interest Rate to Stem Rising InflationThe Central Bank of Nigeria (CBN) on Tuesday raised monetary policy rate (MPR)
CBN Raises Interest Rate to Stem Rising Inflation
AllAfrica.com / Posted yesterday
The Central Bank of Nigeria (CBN) on Tuesday raised monetary policy rate (MPR) from 12 per cent to 14 per cent in a bid to stem the tide of spiraling inflation. With the country's economy already declared to be technically in recession, the National... Read more
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1d
AllAfrica.com
Why Decision to Stop Forex Payment to BDCS Was Reviewed - - CBNThe Central Bank of Nigeria (CBN) said on Tuesday it decided to review its deci
Why Decision to Stop Forex Payment to BDCS Was Reviewed - - CBN
AllAfrica.com / Posted yesterday
The Central Bank of Nigeria (CBN) said on Tuesday it decided to review its decision to stop the payment of foreign exchange to Bureau De Change operators to provide a window for Nigerians in the Diaspora to remit money back home to help boost the... Read more
1d
AllAfrica.com
Ukeje - CBN Is Desirous to Boost Market LiquidityThe Special Adviser to the Central Bank of Nigeria Governor on Financial Market
Ukeje - CBN Is Desirous to Boost Market Liquidity
AllAfrica.com / Posted yesterday
The Special Adviser to the Central Bank of Nigeria Governor on Financial Markets, Mr. Emmanuel Ukeje, spoke to Obinna Chima on recent developments in Nigeria's foreign exchange market. Excerpts: What informed the decision by the CBN to direct banks... Read more
1d
AllAfrica.com
Financial Exclusion - Insurance Sub-Sector Worst Hitsaid most of these are well learned yet they cared less about insurance. The a
Financial Exclusion - Insurance Sub-Sector Worst Hit
AllAfrica.com / Posted yesterday
said most of these are well learned yet they cared less about insurance. The analysts said these are the target of the Central Bank of Nigeria (CBN) in its financial inclusion strategy. This, they noted is also a sign of poor savings habit... Read more
1d
AllAfrica.com
Daily Trust Ranks No. 1 Newspaper in Nigeriaseveral sources including the National Bureau of Statistics, Media Monitoring S
Daily Trust Ranks No. 1 Newspaper in Nigeria
AllAfrica.com / Posted yesterday
several sources including the National Bureau of Statistics, Media Monitoring Services, Media Planning Services, and the Central Bank of Nigeria. It is also remarkable that Media Facts bears the imprint of OMD, a global network of media... Read more
1d
Stamford Advocate
Nigeria just pulled an unexpected move to support its beleaguered currencybank unexpectedly hiked rates in its first decision since depegging its currenc
Nigeria just pulled an unexpected move to support its beleaguered currency
Stamford Advocate / Posted yesterday
bank unexpectedly hiked rates in its first decision since depegging its currency, the naira, from the US dollar. The Central Bank of Nigeria raised its key interest rate by 200 basis points, up to 14.00% from 12.00% on Tuesday. The majority... Read more
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1d
Connecticut Post
Nigeria just pulled an unexpected move to support its beleaguered currencybank unexpectedly hiked rates in its first decision since depegging its currenc
Nigeria just pulled an unexpected move to support its beleaguered currency
Connecticut Post / Posted yesterday
bank unexpectedly hiked rates in its first decision since depegging its currency, the naira, from the US dollar. The Central Bank of Nigeria raised its key interest rate by 200 basis points, up to 14.00% from 12.00% on Tuesday. The majority... Read more
2 related stories
1d
San Francisco Chronicle
Nigeria just pulled an unexpected move to support its beleaguered currencybank unexpectedly hiked rates in its first decision since depegging its currenc
Nigeria just pulled an unexpected move to support its beleaguered currency
San Francisco Chronicle / Posted yesterday
bank unexpectedly hiked rates in its first decision since depegging its currency, the naira, from the US dollar. The Central Bank of Nigeria raised its key interest rate by 200 basis points, up to 14.00% from 12.00% on Tuesday. The majority... Read more
2 related stories
1d
AllAfrica.com
CBN Orders Banks to Publish All Forex Transactions On FMDQThe Central Bank of Nigeria (CBN) has ordered banks to publish details of all f
CBN Orders Banks to Publish All Forex Transactions On FMDQ
AllAfrica.com / Posted yesterday
The Central Bank of Nigeria (CBN) has ordered banks to publish details of all foreign exchange transactions on the Financial Market Dealers Quote (FMDQ) platform. Meanwhile the naira depreciated by 1.5 percent (N4.5) at the interbank foreign... Read more
3 related stories
1d
AllAfrica.com
CBN Targets Rate Convergence With Directive to Sell Remittances to BDCSThe Central Bank of Nigeria (CBN) yesterday explained that its directive to ban
CBN Targets Rate Convergence With Directive to Sell Remittances to BDCS
AllAfrica.com / Posted yesterday
The Central Bank of Nigeria (CBN) yesterday explained that its directive to banks that act as agents of international money transfer operators to commence the sale of foreign currency remittances to licensed Bureau De Change (BDC) operators was aimed... Read more
1d
AllAfrica.com
Adekunle Fajuyi - They Want Us to Forgetjudge,Mr Justice Bello who was in Lagos at the time told the soldiers that all
Adekunle Fajuyi - They Want Us to Forget
AllAfrica.com / Posted yesterday
judge,Mr Justice Bello who was in Lagos at the time told the soldiers that all the nation's money was locked in the Central Bank of Nigeria in Lagos and asked them how they would pay their soldiers after secession without access to the... Read more
2d
AllAfrica.com
Govt Denies Awarding Contract for Egg Productionin the selection process of commercial banks to disburse and recoup the N25 bil
Govt Denies Awarding Contract for Egg Production
AllAfrica.com / Posted 2 days ago
in the selection process of commercial banks to disburse and recoup the N25 billion anchor borrower facility from the Central Bank of Nigeria (CBN) as well as select entrepreneurs and stakeholders across the country for recommendation to the... Read more
2d
AllAfrica.com
No Group Will Dictate to My Economic Team, Says BuhariPlanning, Udoma Udoma; and Industry, Trade & Investments, Okechukwu Enelamah.
No Group Will Dictate to My Economic Team, Says Buhari
AllAfrica.com / Posted 2 days ago
Planning, Udoma Udoma; and Industry, Trade & Investments, Okechukwu Enelamah. Other members of the team include the Central Bank of Nigeria governor, Godwin Emefiele; the National Economic Adviser, Oluyemi Dipeolu; and Director-General of... Read more
2d
AllAfrica.com
Investors' Over Reaction to Forex Policy Costs Them N749 Billionbillion. The market has been bearish after the withdrawal of foreign investors
Investors' Over Reaction to Forex Policy Costs Them N749 Billion
AllAfrica.com / Posted 2 days ago
billion. The market has been bearish after the withdrawal of foreign investors over the exchange control policy of the Central Bank of Nigeria, CBN, and the apex bank was forced to change the policy after more than a year of adverse... Read more
2d
AllAfrica.com
Diving Headlong Into Another Debt Trapbelieve there is a limit to borrowing - as long as you can find somebody "stupi
Diving Headlong Into Another Debt Trap
AllAfrica.com / Posted 2 days ago
believe there is a limit to borrowing - as long as you can find somebody "stupid" enough to lend you money or coerce the Central Bank of Nigeria, CBN, to cough out more funds through Ways and Means. Take a look at some of the raw figures which... Read more
2d
AllAfrica.com
CBN's U.S.$697 Million Settlement Eases Interbank FX Marketat the interbank Forex market following the settlement of the one-month forward
CBN's U.S.$697 Million Settlement Eases Interbank FX Market
AllAfrica.com / Posted 2 days ago
at the interbank Forex market following the settlement of the one-month forward contracts of $697 million by the Central Bank of Nigeria (CBN). A serious cash crunch had forced the overnight lending rate to jump almost 40 per cent from... Read more
2d
AllAfrica.com
Maritime Training Facility Berths in Lagoswords: "Except you are living elsewhere you must be aware that there is scarcit
Maritime Training Facility Berths in Lagos
AllAfrica.com / Posted 2 days ago
words: "Except you are living elsewhere you must be aware that there is scarcity of foreign exchange as a result of the Central Bank of Nigeria (CBN) policies due to the economic crush. We are of the view that the use of this facility will go a... Read more
2d
AllAfrica.com
Attracting Foreign Investors to the Forex MarketFeelers from last week's foreign investment road-show by Central Bank of Nigeri
Attracting Foreign Investors to the Forex Market
AllAfrica.com / Posted 2 days ago
Feelers from last week's foreign investment road-show by Central Bank of Nigeria (CBN) indicated that Nigeria's finances and the economy as a whole may be headed to its worst external sector positions. The foreign investors have told the apex bank... Read more
2d
AllAfrica.com
As MPC Meets Tomorrow, Recession, Rising Inflation to Top Agendaadmitted that the economy was 'technically in recession', the 251st edition of
As MPC Meets Tomorrow, Recession, Rising Inflation to Top Agenda
AllAfrica.com / Posted 2 days ago
admitted that the economy was 'technically in recession', the 251st edition of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meeting which begins tomorrow will dwell on measures to halt the gradual slide into recession... Read more
2 related stories
3d
AllAfrica.com
On the Travails of the Nairathey are productive, export-oriented economies. Second, the naira's (and our e
On the Travails of the Naira
AllAfrica.com / Posted 3 days ago
they are productive, export-oriented economies. Second, the naira's (and our economy's) woes were exacerbated by the Central Bank of Nigeria's prolonged pegging of the naira to a fixed, artificial exchange rate of 199 naira to the dollar,... Read more
3d
AllAfrica.com
'CBN Intervention in Forex Market'll Protect Naira'A financial expert, Mr. Victor Owonifari, has described the intervention of the
'CBN Intervention in Forex Market'll Protect Naira'
AllAfrica.com / Posted 3 days ago
A financial expert, Mr. Victor Owonifari, has described the intervention of the Central Bank of Nigeria (CBN) in the interbank forex as a step in the right direction for the nation's financial system. He said the move would go a long way in putting... Read more
3d
AllAfrica.com
Recession, Rising Inflation, FX May Define MPC Meeting Todayexchange rate policy may likely dominate discussions at the 251st holding Monet
Recession, Rising Inflation, FX May Define MPC Meeting Today
AllAfrica.com / Posted 3 days ago
exchange rate policy may likely dominate discussions at the 251st holding Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN), starting today in Abuja. Experts are hopeful that the meeting would be proffering some... Read more
2 related stories
3d
AllAfrica.com
In Defence of Contributory Pension Schemeare not under the parastatals but are being paid by the National Pension Commis
In Defence of Contributory Pension Scheme
AllAfrica.com / Posted 3 days ago
are not under the parastatals but are being paid by the National Pension Commission (PENCOM) with funds provided by the Central Bank of Nigeria (CBN)". It is unacceptable that the remittances from the Federal Government through the PENCOM were... Read more
3d
AllAfrica.com
HND, BSC Dichotomy to End Soonof their alma mater. Earlier in his address, the Rector of the Polytechnic, Dr
HND, BSC Dichotomy to End Soon
AllAfrica.com / Posted 3 days ago
of their alma mater. Earlier in his address, the Rector of the Polytechnic, Dr. Mohammed Bello Ibrahim stated that the Central Bank of Nigeria (CBN) had approved to expend N3.4billion on infrastructural development in the polytechnic. The bank,... Read more
3d
AllAfrica.com
Investors Trade N49 Trillion Fixed Income Securities in Six Monthsand 4.34 per cent of the total turnover respectively. FMDQ explained that mile
Investors Trade N49 Trillion Fixed Income Securities in Six Months
AllAfrica.com / Posted 3 days ago
and 4.34 per cent of the total turnover respectively. FMDQ explained that milestones were recorded in the FX market as the Central Bank of Nigeria (CBN) took steps to restructure the market. "The apex bank released revised guidelines for the FX... Read more
3d
AllAfrica.com
Remo Monarch, Adeniyi Sonariwo, Is DeadBoys High School from 1950 till 1955.Akarigbo of Remo land He became an orphan
Remo Monarch, Adeniyi Sonariwo, Is Dead
AllAfrica.com / Posted 3 days ago
Boys High School from 1950 till 1955.Akarigbo of Remo land He became an orphan at six and had dreamt of working with the Central Bank of Nigeria to become the governor "so that I would sign my name on the naira notes." He later travelled abroad... Read more
4d
AllAfrica.com
Central Bank Directs Banks to Sell ForexThe Central Bank of Nigeria (CBN) has directed agent banks to approved internat
Central Bank Directs Banks to Sell Forex
AllAfrica.com / Posted 4 days ago
The Central Bank of Nigeria (CBN) has directed agent banks to approved international money transfer operators to sell foreign currency accruing from inward money remittances to licenced Bureau De Change operators (BDCs). The directive is in a... Read more
5d
AllAfrica.com
Nigeria's Economy Will Grow in 2017 - Udo Udomaof the JVs, ensure less political interference and enhance commercial decision
Nigeria's Economy Will Grow in 2017 - Udo Udoma
AllAfrica.com / Posted 5 days ago
of the JVs, ensure less political interference and enhance commercial decision making. Governor Ishaku disclosed that the Central Bank Of Nigeria ( CBN) has lifted the restrictions on deposit of forex into domiciliary accounts. He said, "The... Read more
6d
AllAfrica.com
Absence of Private Capital, Missing Link in 2016 Budgetraising fund through taxation, but this is not feasible looking at the economic
Absence of Private Capital, Missing Link in 2016 Budget
AllAfrica.com / Posted 6 days ago
raising fund through taxation, but this is not feasible looking at the economic situation of the country," Abe stated. The Central Bank of Nigeria (CBN) data recently released showed that the Federal Government spent a total of N1.23025trillion in... Read more
6d
AllAfrica.com
Panic Withdrawal - CBN Boosts Skye Bank's LiquidityBy Sunday Michael Ogwu With Agency Report Lagos — The Central Bank of Nigeria
Panic Withdrawal - CBN Boosts Skye Bank's Liquidity
AllAfrica.com / Posted 6 days ago
By Sunday Michael Ogwu With Agency Report Lagos — The Central Bank of Nigeria (CBN) has provided a loan to Skye Bank Plc to boost its liquidity after panic withdrawal by customers from the lender forcing a liquidity shortage. The CBN early this... Read more
6d
AllAfrica.com
Non-Remittance of Pension Fundswho are not under the parastatals but are being paid by the National Pension Co
Non-Remittance of Pension Funds
AllAfrica.com / Posted 6 days ago
who are not under the parastatals but are being paid by the National Pension Commission (PENCOM) with funds provided by the Central Bank of Nigeria (CBN). Such beneficiary pensioners are therefore living on borrowed money and time, and may be cut... Read more
6d
AllAfrica.com
House Members Plan N36 Million Donation to IDPsbudgets of the Nigerian Maritime Administration and Safety Agency (NIMASA), Nig
House Members Plan N36 Million Donation to IDPs
AllAfrica.com / Posted 6 days ago
budgets of the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian National Petroleum Corporation (NNPC), Central Bank of Nigeria (CBN), Nigeria Ports Authority (NPA) , Nigeria Customs Service (NCS) and 34 other agencies and... Read more
6d
AllAfrica.com
CBN Affirms Confidence in Skye Bank, Institutes Guarantee LineThe Central Bank of Nigeria (CBN), has affirmed its confidence in Skye Bank Plc
CBN Affirms Confidence in Skye Bank, Institutes Guarantee Line
AllAfrica.com / Posted 6 days ago
The Central Bank of Nigeria (CBN), has affirmed its confidence in Skye Bank Plc., through a guarantee line which ensures that withdrawals it suffered in the wake of undue panic recently does not adversely affect its operations. This development... Read more
6d
AllAfrica.com
Excess Crude Account Hits U.S.$3.93 Billion28 met the requirements; while seven sent their required documentation late and
Excess Crude Account Hits U.S.$3.93 Billion
AllAfrica.com / Posted 6 days ago
28 met the requirements; while seven sent their required documentation late and were being processed. The governor of the Central Bank of Nigeria, Godwin Emefiele, informed the NEC that all bank customers operating domiciliary accounts were... Read more
6d
AllAfrica.com
Can Hadiza Bala Usman Make a Difference At NPA?to the dilapidated port access roads. They also urged the NPA boss to work wit
Can Hadiza Bala Usman Make a Difference At NPA?
AllAfrica.com / Posted 6 days ago
to the dilapidated port access roads. They also urged the NPA boss to work with the Nigeria Customs Service (NCS), the Central Bank of Nigeria (CBN) and the Ministry of Finance to review policies that have taken cargoes away from Nigeria's... Read more
6d
AllAfrica.com
CBN to Fund U.S$697 Million Forward ContractsThe Central Bank of Nigeria (CBN) will today fund the one-month forward contrac
CBN to Fund U.S$697 Million Forward Contracts
AllAfrica.com / Posted 6 days ago
The Central Bank of Nigeria (CBN) will today fund the one-month forward contracts of $697 million on the interbank FX market, effectively improving dollar liquidity in the market, as the accounts of customers that hedged against the dollar through... Read more
6d
AllAfrica.com
Seafood Import Drops By 12 Percent On CBN Forex Policycentral bank restricting importers from using the foreign-exchange market for s
Seafood Import Drops By 12 Percent On CBN Forex Policy
AllAfrica.com / Posted 6 days ago
central bank restricting importers from using the foreign-exchange market for some goods including fish. Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele had said the policy was yielding positive results for the country. To... Read more
7d
AllAfrica.com
Cash Crunch Hits Ministries, Agencies As Revenue Nosedivesattributed the pressure on the naira on the informal market to the scarcity of
Cash Crunch Hits Ministries, Agencies As Revenue Nosedives
AllAfrica.com / Posted 7 days ago
attributed the pressure on the naira on the informal market to the scarcity of FX brought on by the decision of the Central Bank of Nigeria (CBN) not to intervene in the interbank market. The central bank last Friday decided to allow the... Read more
2 related stories
7d
AllAfrica.com
Zamfara Assembly - Why We Want to Impeach Yariallegedly misappropriated to include N11 billion bailout funds, N1 billion agri
Zamfara Assembly - Why We Want to Impeach Yari
AllAfrica.com / Posted 7 days ago
allegedly misappropriated to include N11 billion bailout funds, N1 billion agricultural loan released to the state by the Central Bank of Nigeria (CBN) and "corrupt abuse of local government funds." The assembly, according to the News Agency of... Read more
3 related stories
7d
AllAfrica.com
Budget 2016 - From Hope to Despair?year. "The pressure trickled onto the naira, which depreciated over four per c
Budget 2016 - From Hope to Despair?
AllAfrica.com / Posted 7 days ago
year. "The pressure trickled onto the naira, which depreciated over four per cent against the dollar last Friday after the Central Bank of Nigeria relinquished the dollar at a weaker rate in an effort to boost market liquidity. Sentiment is slowing... Read more
7d
AllAfrica.com
Govt Directs Extension of Anchor Borrower Programme to 14 StatesPresident Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) and i
Govt Directs Extension of Anchor Borrower Programme to 14 States
AllAfrica.com / Posted 7 days ago
President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) and its development partners, such as the Bank of Industry (BoI) to extend the Anchor Borrowers' Programme (ABP) to 14 other states in the country. The Executive Director,... Read more
2 related stories
7d
AllAfrica.com
Debt Servicing Gulped N1.02 Trillion in 2015 - DMO(NIBOR) to be moderate as inflows - via maturing treasury bills - and expected
Debt Servicing Gulped N1.02 Trillion in 2015 - DMO
AllAfrica.com / Posted 7 days ago
(NIBOR) to be moderate as inflows - via maturing treasury bills - and expected FAAC disbursements exceed the outflows. The Central Bank of Nigeria will auction treasury bills worth N127.96 billion today (July 20), comprising 91-day bills worth... Read more
7d
AllAfrica.com
Melaye Threatened to Rape Me, Remi Tinubu Insists, Petitions Sarakione week to attack me," the letter read in part. Meanwhile, before the Senate
Melaye Threatened to Rape Me, Remi Tinubu Insists, Petitions Saraki
AllAfrica.com / Posted 7 days ago
one week to attack me," the letter read in part. Meanwhile, before the Senate went into a closed-door session with the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele,yesterday, it held its own executive session where senators... Read more
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