Tag Archives: CBN

In line with the Central Bank of Nigeria (CBN) policy towards making sure that all Nigerian have access to financial services across the country, Nigerian banks, licensed Mobile Money Operators and Super Agents on Tuesday March 27, 2018 has agreed to roll out a 500,000 shared Agent Network, which will accelerate financial inclusion in the country. Addressing the financial press …

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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 to 10 days, or at …

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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 $39.3 billion, then rose to …

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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 its website on Thurday. According …

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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 however grew at a slower …

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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, who cultivated almost 300,000 hectares of farmland …

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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 base for small holder farmers, …

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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 Nigeria (CBN) Foreign Exchange Manual …

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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 of the allegation of using …

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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 of local consumption, export and …

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