Tag Archives: CBN

The Managing Director, Ecobank Nigeria, Patrick Akinwuntan, has launched EcobankPay zone at Alaba International Market, Lagos, and expressed the bank’s commitment to continue innovating more payment and financial solutions to best serve traders across the country. According to Akinwuntan, the bank has designated Alaba market as an EcobankPay zone, meaning that patrons of the market, Ecobank and non-Ecobank account holders, …

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In continuation of its periodic intervention in the foreign exchange market, the Central Bank of Nigeria, on Tuesday, injected another sum of $210m into the inter-bank foreign exchange market. Figures released by the CBN indicated that authorised dealers in the wholesale segment of the market received $100m, while the Small and Medium Enterprises and the invisibles segments were allocated $55m …

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The Edo State Governor, Mr. Godwin Obaseki, has said that the state government is in discussions with the Central Bank of Nigeria (CBN), to develop a programme that will see investors taking up 100,000 hectares of agricultural land in the state for plantation development. The governor said this when he met with a delegation from the International Finance Corporation (IFC), …

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The monetary policy committee of the Central Bank of Nigeria (CBN) has warned that the federal government’s debt levels could be fast approaching the pre-2005 levels. Reading the communique of the committee’s decision at the end of its bi-monthly meeting on Tuesday, Godwin Emefiele, the CBN governor, said: “On external borrowing, the committee noted the increase in debt level advising …

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The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has again retained the monetary policy rate, which determines interest rate, at 14%, the country’s highest in 10 years. This is the 15th time that the committee has left the rate unchanged. Godwin Emefiele, governor of the Central Bank of Nigeria, announced the committee’s decision at the bank’s headquarters …

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The Central Bank of Nigeria on Thursday unveiled the National Financial Inclusion Strategy designed to ensure that at least 80 per cent of Nigerians have access to banking and other financial services. The CBN Deputy Governor on Financial System Stability, Mrs. Aisha Ahmad, made the presentation at the National Financial Literacy Stakeholders’ Conference in Abuja on Thursday. She said that …

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The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, will next week unfold the Bank’s plans for 2019 year, during the first Monetary Policy Committee (MPC) meeting scheduled for January 21 to 22. The Director, Corporate Communications at the CBN, Mr. Isaac Okorafor, disclosed this in a statement. Also, Okorafor confirmed the CBN’s injection of the sum of $263 …

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Business activities were slowed down by an insufficient power supply, high-interest rates and other challenges in 2018 financial period. This was disclosed in the ‘monthly business expectations survey report’ by the Central Bank of Nigeria’s Statistics Department in December 2018. The CBN, in the report, stated that “firms identified insufficient power supply, high-interest rates, unfavourable economic climate, financial problems, unclear …

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The Central Bank of Nigeria on Friday made its first intervention in the inter-bank sector of the Foreign Exchange market for 2019 with a sum of $210m. The CBN Director, Corporate Communications, Isaac Okorafor, said the wholesale sector of the market received 100 million dollars, while the Small and Medium Enterprises received $55m. Okorafor said another $55m was allocated to …

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The Central Bank of Nigeria (CBN), in continuation of its intervention in the foreign exchange market, has injected another sum of $210 million to boost sales in the inter-bank segment of the market. In the sales conducted on Monday, December 10, 2018 and consummated on Tuesday, December 11, 2018, the Bank offered $100 million to authorized dealers in the wholesale …

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