CBN To Hold 1st MPC Meeting In April –Emefiele

Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Thursday, gave an indication of delaying the bi-monthly Monetary Policy Committee (MPC) meeting till April after the National Assembly and President Muhammadu Buhari-led executive resolved the issue of nominations for its MPC. Emefiele said the meeting scheduled for March 19-20 would be delayed by about seven […]

Nigeria’s External Reserves Rise To $46 bn

The Central Bank of Nigeria (CBN) says Nigeria’s External Reserves is steadily growing and currently stands at $46 billion. The CBN spokesman, Isaac Okoroafor, said in a statement on Sunday that the reserves grew by about $3.2 billion between February and March 2018. He said that the reserves at the beginning of 2018 stood at […]

CBN Stress Test Reveals Weak Capital Signs In Banks

A Central Bank of Nigeria stress test has shown that only large banks will stay above the regulator’s capital adequacy ratio threshold if the non-performing loans levels of the Deposit Money Banks should rise by 50 per cent. The results of the stress test were contained in the CBN’s latest Financial Stability Report posted on […]

CBN PMI Index Now 56.3 points In February

The Central Bank of Nigeria’s manufacturing Purchasing Managers’ Index hit 56.3 index points in February, the CBN’s PMI survey report showed on Wednesday. The manufacturing PMI had hit 57.3 index points in January. The CBN stated that the 56.3 index points indicated expansion in the manufacturing sector for the 11th consecutive months. The PMI index […]

CBN’s N56bn Agric Fnancing Creates Nearly One Million Jobs

In just two years of implementation of the Anchor Borrowers Programme by the Central Bank of Nigeria (CBN), the initiative has contributed to the creation of about 890,000 direct jobs and 2.6 million indirect ones, with the disbursement of N55.53 billion. Besides, the orogramme, which is in partnership with state governments and several private sector groups, aided the disbursements to over 250,000 farmers, […]

CBN’s Tech Strategy For ‘Anchor Borrowers’, Cleaner Notes

As part of efforts to improve the operational efficiency of the Anchor Borrower’s Programme (ABP), the Central Bank of Nigeria (CBN) has introduced technology to guide input distribution of farmers under it Anchor Borrowers Programme. The pilot phase, flagged off at the Federal Capital Territory (FCT), last week, was meant to build a national data […]

Central Bank

CBN To Sanction Defaulting Exporters Over Forex Repatriation

The Bankers’ Committee yesterday announced that the Central Bank of Nigeria (CBN) will commence sanctioning exporters who fail to repatriate foreign exchange proceeds from their international business. Addressing financial journalists at the end of the Bankers’ Committee meeting in Lagos, Citibank Nigeria Managing Director/CEO Akin Dawodu pointed out a provision in the Central Bank of […]

Administrative Panel Recommends Gwarzo’s Dismissal From Public Service

The Administrative Panel of Inquiry has recommended the dismissal of the suspended Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, from the Public Service of the Federal Government. Presidency source disclosed that the Panel also recommended that the suspended SEC director-general be referred to the Independent Corrupt Practices Commission for further investigation […]

CBN To Launch N10bn Fund For Egg Production

The Federal Government, with the support of the Central Bank of Nigeria (CBN), has disclosed plans to launch a N10 billion fund for the National Egg Production Scheme (NEPRO) in the country. The target of the scheme is to achieve a daily production of 50 million eggs over the next five years for the purpose […]

CBN Boosts Foreign Exchange Market With $210m

The Central Bank of Nigeria (CBN) has boosted the inter-bank foreign exchange market with $210 million  to meet customers’ requests in various segments of the market. The Bank’s acting Director, Corporate Communications, Mr Isaac Okorafor, in a statement on Monday in Abuja said the fund would ensure that legitimate demands for foreign exchange are met. He said […]