Tag Archives: CBN

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 14 per cent. The CBN Governor, Mr Godwin Emefiele who announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja explained that all the ten members that attended the meeting agreed to …

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The Central Bank of Nigeria (CBN) will resume sales of dollar proceeds of international money transfer (IMT) to bureaux de change (BDCs) operators this week even as manufacturers kick against the move. Findings revealed that the CBN governor, Mr. Godwin Emefiele, disclosed this during a meeting with executives of the Association of Bureaux De Change Operators of Nigeria (ABCON). The …

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CBN sells $1bn to clear backlog of forex demand The Central Bank of Nigeria has sold about $1bn on the forward market to clear a backlog of dollar obligations in selected sectors, according to foreign exchange traders. The traders said on Thursday that the dollar sale was made last week. They described it as the largest special auction by the …

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SEC, CBN Real-Out Guidelines on Securities Settlement in Nig As part of its growth strategy and development of the stock market and to further promote competitive, efficient, safe and sound post trading arrangements in Nigerian financial market, the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria have introduced some sets of guidelines on securities settlements in Nigeria. …

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CBN to unveil N30bn agric/SME fund in January The Central Bank of Nigeria has said it will, together with the Deposit Money Banks, set up a new fund to boost agriculture and the Small and Medium-sized Enterprises in the country, targeting at least N30bn for the first year. The Governor, CBN, Mr. Godwin Emefiele, disclosed this on Saturday at a …

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CBN Reads Riot Act To Banks Over Intervention Funds The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has warned Participating Financial Institutions (PFIs) in the country against charging double-digit interest on intervention funds guaranteed by the apex bank. Mr. Emefiele who gave the warning in Abeokuta, Ogun state, during an interaction between the Presidential Task Force on Agricultural …

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Wema Bank opens new branch in Abuja Wema Bank Plc has announced the opening of a new branch in Abuja as part of its strategic expansion following a national licence granted the bank by the Central Bank of Nigeria in 2015. The lender, in a statement on Wednesday, said the new branch would strengthen its business in the Federal Capital …

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MMM will lead to losses, Access bank warns customers Access Bank Nigeria Plc has warned its customers to avoid dealing with Mavrodi Mondial Movement, a Ponzi scheme, which has been declared illegal by the Central Bank of Nigeria and the Securities and Exchange Commission. The bank in an emailed statement to its customers said it had come to its attention …

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CBN policy delays wheat farming in Kano – Farmers Wheat Farmers in Kano State have blamed the Central Bank of Nigeria (CBN) for the delay in the take-off of this year’s wheat planting season in the state. According to agency report, Faruk Rabiu, Kano State Chairman, Wheat Farmers Association of Nigeria (WFAN), had disclosed that participating banks withdrew from the …

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We‘ll Continue To Finance Development Projects –Ecobank MD The Managing Director, Ecobank Nigeria, Charles Kie, has restated the commitment of the Bank to continue to support projects that impact positively on the lives of the people and economic development of the country. Speaking at the commissioning of Abia Retail Shopping Mall (Shoprite) in Umuahia, Abia State recently, Kie who was …

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