Tag Archives: CBN

The Central Bank of Nigeria has extended guarantees to Skye Bank Plc for another year, while it considers the bank’s recapitalisation proposal, the mid-tier lender has said. The CBN had last year shored up Skye Bank with N100bn capital injection, after sacking its top management for failing to meet minimum capital requirements. The central bank then appointed a new management …

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In continuation of its foreign exchange (Forex) supply drive, Central Bank of Nigeria (CBN), on Monday, intervened in the inter-bank market to the tune of $195million. Figures released by the Bank show that it offered the total sum of $100million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of $50 million. The invisibles …

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The Central Bank of Nigeria has condemned the mutilation of naira notes, saying it represents an abuse on national sovereignty. The CBN’s acting Director of Corporate Communications, Mr Isaac Okorafor, on Wednesday in Abuja said the mutilation of the naira as perpetrated by members of the public at wedding ceremonies and parties end up damaging the currency. He, therefore, called …

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The Central Bank of Nigeria sold N31.94bn ($104.76m) in Treasury bills on Friday in a bid to tighten liquidity in the money market while overnight lending rate fell. Traders said the bank sold N31.52bn of 349-day Treasury bill at 18.59 per cent and N440m of 160-day Treasury bill at 17.98 per cent at an auction on Friday, Reuters reported. The cost of …

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The banking sector recorded 31,736 fraud cases involving the sum of N16.5bn between January 2014 and December 2016, figures obtained by Maritime First from the Central Bank of Nigeria have revealed. The fraud statistics are contained in the Nigerian Electronic Fraud Report, which was prepared by the Banking and Systems Payment Department of the CBN. The frauds were perpetrated through …

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Following its 800 million dollars intervention in the inter-bank Foreign Exchange (FOREX) Market last week, the Central Bank of Nigeria (CBN), on Monday, injected 195 million dollars into the market to meet the requests of customers in the various segments of the market. The acting Director, Corporate Communications, Mr.  Isaac Okorafor, said in a statement in Abuja that the bank would …

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The Central Bank of Nigeria, CBN, has expressed concern over the low level of credit penetration in the country which is estimated at 5.3 per cent of the nation’s adult population. Head, financial inclusion secretariat, CBN, Mrs. Temitope Akinfadeyi, disclosed this in Lagos at a workshop on retail banking organised by the ciuci consulting with the theme ‘catalyzing SME funding and retail lending to …

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Dollar inflows into the economy through the newly introduced Investor and Exporter (I&E) Forex Window have hit $2.2 billion, the Bankers’ Committee said yesterday. The I&E FX window was introduced by the Central Bank of Nigeria (CBN) on April 24 to enable portfolio investors sell dollars at rates of their choice, if they get buyers. Briefing  reporters at the end of the …

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The second edition of a retail banking workshop organised by Ciuci Consulting will explore strategic tools employed to drive financial inclusion. According to a statement by the consulting firm, the workshop, themed, ‘Catalysing SME funding and retail lending to Nigeria’s economic development’, is in line with the CBN’s policies and processes designed to enhance financial inclusion. The programme is scheduled …

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Some financial experts on Sunday called on the Central Bank of Nigeria (CBN) to ensure continuous liquidity in the foreign exchange market to sustain the bullish trend on the Nigerian Stock Exchange (NSE). They told the News Agency of Nigeria (NAN) in separate interviews in Lagos that the current rally on the stock market could only be sustained with foreign …

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