Tag: CBN
CBN raises interest rate to 27.65%
The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark lending rate to 27.65 per cent.
The hike in the Monetary...
CBN implements stricter regulations for dormant accounts, unclaimed funds
The Central Bank of Nigeria (CBN) has implemented stricter regulations for managing dormant accounts and unclaimed financial assets in banks and other financial institutions.
These...
FX stability; CBN sells 122.671m dollars to 46 authorised dealers
The Central Bank of Nigeria (CBN), has sold the sum of 122,671 million dollars to 46 authorised dealers.
According to a statement issued by the...
CBN reiterates commitment to create enabling environment for businesses
The Central Bank of Nigeria (CBN) has reiterated its commitment to grow the Nigeria economy by creating an enabling environment for businesses to develop.
Mr...
CBN’s aggressive monetary policy tightening and Nigeria’s economic growth
Recently Mr Aliko Dangote, the Chairman and Chief Executive Officer of Dangote Group, said that rising interest rate hikes would hurt local manufacturers.
Dangote made...
Your bank deposits are safe, CBN reassures Nigerians
The Central Bank of Nigeria (CBN) has again reassured the banking public of the safety of their deposits and the banking system’s resilience.
The apex...
Investigate mass sack of CBN workers, group urges NASS
The Conference of Autochthonous Ethnic Communities Development Association (CONECDA), has urged the National Assembly to investigate the recent mass sack of some workers of...
No plan to revoke more bank licences – CBN
The Central Bank of Nigeria (CBN) says it has no plan to revoke the licences of more Deposit Money Banks (DMBs).
The Acting Director, Corporate...
Heritage Bank: Acquisition better option than licence revocation – Economist
An economist, Prof. Evans Osabuohien, says acquiring Heritage Bank by another investor would have been a better option than outright revocation of its operating...
Cardoso Fired 25 Of 29 Directors He Met At CBN –...
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, sacked 25 of the 29 directors he inherited, Quicknewsafrica has learnt.
The other four of...
CBN Revokes Licence Of Heritage Bank
The Central Bank of Nigeria (CBN) has revoked the licence of Heritage Bank Plc with immediate effect.
Hakama Sidi Ali, Acting Director, Corporate Communication at...
Sen. Nwoko chides CBN for mass termination of 317 staff
Sen. Ned Nwoko (PDP-Delta North), has chided the recent mass termination of the employment of more than 317 staff of the Central Bank of...
Retain 24.75% lending rate, experts advise CBN
Some financial and economic experts have advised the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to retain the lending rate...
CIAPS urges FG to adopt holistic approach to economic growth
The Centre for International Advanced and Professional Studies (CIAPS) has advised the Federal Government to adopt a comprehensive and integrated approach in driving economic...
Naira makes huge recovery, gains 7.2% against dollar
The naira experienced huge appreciation on Friday at the official market, trading at N1,142.38 to the dollar.
Data from the official trading platform of the...
ABCON backs CBN’s directive on non-export domiciliary accounts
The Association of Bureau De Change Operators of Nigeria (ABCON) has commended the Central Bank of Nigeria (CBN) for its recent directive to cease...
Naira appreciation and calls for CBN to sustain monetary policies
In recent times, the Naira, Nigeria’s legal tender, appears to be getting stronger after an all-time low of N1,900 in exchange for the dollar...
