Central Bank
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NEWS
Default Loans: CBN authorizes settlement using funds in other banks
Banks in the country will be able to debit the accounts of loan holders in other banks to settle defaults, effective August 1, according to global standing instruction (GSI) guidelines published by the Central Bank of Nigeria (CBN) on Monday. The CBN said the GSI, which was developed in collaboration with stakeholders, should be the last resort used by a bank to…
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Africa
One size does not fit all for Central Banks’ role in financing development
“What is needed to make the most of central banks’ potential in financing Africa’s development in the post-2015 era? Mr. Carlos Lopes, the Executive Secretary of the Economic Commission of Africa posed the question to a group of central bank governors and development financing experts during the Caucus of Governors session at the Joint Annual Meetings of the African Union…
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Africa
Nigeria’s Senate confirms Godwin Emefiele as CBN Governor
The Senate has confirmed Godwin Emefiele as the next Governor of the Central Bank of Nigeria, CBN. Mr. Emefiele will resume in June when the tenure of the suspended Central Bank Governor, Lamido Sanusi, expires. The Senate’s confirmation of Mr. Emefiele on Wednesday follows his nomination by President Goodluck Jonathan in February. The president nominated Mr. Emefiele, current Managing Director…
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