cbn
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Nigeria Nigeria Relooted: CBN Has no Record of Recovered Money by EFCC Between 2016 - 2019 - Abati
The Office of the Auditor General for the Federation (OAuGF) has uncovered a significant lapse in the Central Bank of Nigeria's (CBN) record-keeping, specifically regarding money recovered by the Economic and Financial Crimes Commission (EFCC) between 2016 and 2019. The 2020 Audited report of... -
Nigeria CBN Scandal Deepens: FG Launches Manhunt for CBN Staff Involved in $6.2 Million Buhari Signature Forgery
The Federal Government has declared Odoh Ocheme, a Central Bank of Nigeria (CBN) staff, alongside Adamu Abubakar and Imam Abubakar, wanted for their alleged involvement in forging former President Muhammadu Buhari's signature to steal $6.2 million from the CBN. A letter from the CBN special... -
Nigeria Rufai Breaks Down Discrepancies in Boss Mustapha's Testimony Over $6.2 Million Emefiele CBN Scandal
Arise TV presenter Rufai meticulously analyzes the contradictions that surfaced in Boss Mustapha's testimony during the ongoing $6.2 million fraud trial involving former CBN governor Godwin Emefiele. Rufai sheds light on the complex legal proceedings, providing a detailed breakdown of Deputy... -
Nigeria Nigerians Shocked and Mock Emefiele Over Revelations In Boss Mustapha's Statement About Signature Forgery and $6.2 Million Election scandal
In a courtroom drama that has sent shockwaves through the nation, the ongoing fraud trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, took a startling turn as former Secretary of the Government of the Federation (SGF), Boss Mustapha, testified as the fourth prosecution... -
Nigeria Ex-SGF Boss Mustapha Testifies in $6.2m Trial; Distances Himself and Accuses Emefiele of Forgery in Foreign Election Observers Controversy
Former Secretary of the Government of the Federation, Boss Mustapha, dropped a bombshell on Tuesday during his appearance as the fourth prosecution witness in the ongoing fraud trial of the former Central Bank of Nigeria Governor, Godwin Emefiele. Mustapha asserted that $6.2 million was... -
Nigeria Naira Plummets to Record Low of N1,534/$1 Despite CBN Intervention Efforts
In a dramatic turn of events, the official exchange rate between the naira and the dollar plummeted to an unprecedented low of N1,534 on the NAFEM market, marking the weakest point in the currency's history. The day's forex turnover, a mere $89 million, revealed a sharp 64.69% drop in comparison... -
Nigeria Access Holdings PLC Appoints Bolaji Agbede as Acting CEO Following Tragic Loss of Former CEO, Dr. Herbert Wigwe
In a somber announcement on Monday, Access Holdings PLC revealed the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer. This decision comes in the wake of the tragic helicopter crash that claimed the lives of its former Group CEO, Dr. Herbert Wigwe, his wife, son, and... -
Nigeria CBN Mandates Nigerian Banks to Pay Diaspora Transfers in Naira
In response to the Central Bank of Nigeria's recent directive limiting International Money Transfer Operators (IMTOs) to inbound transfers only, IMTOs have ceased dollar transfers to Nigerians, now opting to pay in naira. The CBN's move, aimed at liberalizing the foreign exchange market and... -
Nigeria Nigerians Doubt EFCC's Arrest of Emefiele's Wife, Brand It a Potential Distraction From Economic Hardship
In response to the EFCC's arrest of Emefiele's wife, Nigerians have taken to various platforms to voice their opinions, revealing a spectrum of reactions. Some citizens are skeptical about the outcome, expressing concerns that the situation will be 'swept under the carpet'. Users like... -
Nigeria More Woes For Emefiele as EFCC Declares Wife Wanted For Money Laundering
The Economic and Financial Crimes Commission (EFCC) has issued a declaration naming Margaret Emefiele, wife of former Central Bank of Nigeria Governor Godwin Emefiele, along with Eric Odoh, Anita Omoile, and her husband Jonathan Omoile, as wanted for alleged involvement in money laundering. The... -
Nigeria Economic Jitters as Naira Depreciates to N1,500: Parallel Market Struggles Against Dollar
The Nigerian naira witnessed a 3.45 percent depreciation on Wednesday, plummeting to N1,500 against the dollar in the parallel market. This marks a decline from the N1,450 recorded just two days prior, leaving currency traders, also known as Bureau De Change operators, with a narrow profit... -
Nigeria Punch Newspaper Stands by Its Story on Government's Consideration to Convert $30 Billion of Nigerian Deposit Funds to Save Naira
On February 3, 2024, Saturday PUNCH reported on the federal government's consideration of converting $30 billion domiciliary deposits to Naira as part of efforts to stabilize the currency. The story cited a senior government official in the presidency who spoke anonymously on the matter... -
Nigeria More Woes for Nigerian Businesses as CBN Increases Import Duty by Another 4.4% in Just One Day
The Central Bank of Nigeria (CBN) has increased the Customs exchange rate for import duty once again, escalating from N1,356.883 per dollar to a staggering N1,413.62 within 24 hours. This swift move comes on the heels of a 43% increase in the Customs import duty rate announced the day before... -
Nigeria Nigerians React With Disbelief to CBN Denial of $30 Billion Domiciliary Account Conversion Policy
CBN denies conversion of $30B domiciliary deposits, but skepticism reigns among Nigerians due to government's credibility issues. Doubts persist despite official statements, reflecting widespread distrust in governmental communications -
Nigeria Domiciliary Account Holders in Shock As Nigeria Mulls $30 Billion Domiciliary Deposit Conversion to Naira for Economic Stability
In response to the recent historic plunge of the national currency, the Nigerian government is reportedly considering a bold policy shift. Strong indications suggest that the Federal Government is contemplating the conversion of foreign currencies in domiciliary accounts, both individual and... -
Nigeria CBN Enforces Stricter Regulations, Bars Banks and Fintechs from International Money Transfers
The Central Bank of Nigeria (CBN) has announced the prohibition of banks and financial technology companies (fintechs) from offering international money transfer services. This development, outlined in the revised guidelines for the operations of International Money Transfer Operators (IMTOs)... -
Nigeria Central Bank's New Forex Regulations Trigger Varied Sentiments in Nigeria
The Central Bank of Nigeria (CBN) has enacted stringent measures to bolster liquidity in the foreign exchange market, instructing banks to limit their Net Open Position (NOP) of foreign currency assets and liabilities to 20% of shareholders' funds. The directive, issued through a CBN circular... -
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Business CBN orders banks to sell excess dollars in 24 hours - Linda Ikeji’s Blog
https://www.lindaikejisblog.com/2024/2/cbn-orders-banks-to-sell-excess-dollars-in-24-hours-2.html- Kayode Israel
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- cbn linda ikeji naija news nigeria news olayemi cardoso
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- Forum: Business News Links
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Business Naira appreciates against US Dollar amid CBN intervention - Daily Post
https://dailypost.ng/2024/02/01/naira-appreciates-against-us-dollar-amid-cbn-intervention/- Kayode Israel
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- cbn daily post news naija news nigeria news olayemi cardoso
- Replies: 0
- Forum: Business News Links
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Nigeria Lawmakers Demand Answers as CBN Governor is Summoned Over Alarming Naira Decline
In a bid to address growing concerns over the state of the economy and the alarming free fall of the naira in the forex market, the Senate's Committee on Banking, Insurance, and other Financial Institutions has taken a decisive step by summoning the Governor of the Central Bank of Nigeria...
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