cbn news

The Central Bank of Nigeria (CBN) and the Deposit Money Banks (DMBs) are fine-tuning plans to disburse N60 billion, being five per cent of their profit to buoy various developmental initiatives of the Federal Government. Read more via The Sun News – https://ift.tt/2GHc9YU Get more: Nigeria...

As the Central Bank of Nigeria (CBN) yesterday retained the Monetary Policy Rate (MPR), the rate at which the CBN lends money to commercial banks, at 14 per cent against industry watchers expectations, some economists are forecasting a continuous contraction in the real sector of the Nigerian...

Lenders’ non-performing loans hit N2.4trn Nigeria’s debts rises to N11.9trn As part of its continuing efforts to Emefiele ensure consumer protection, the Central Bank of Nigeria (CBN) directed financial institutions to refund N7.21 billion, $2.40 million and €6,940, to customers between January...

THE House of Representatives ad-hoc committee constituted to probe the Central Bank of Nigeria, CBN, for alleged under remittance of over $5 billion into the federation account began work,weekend. The committee, chaired by Chairman, House Committee on Customs, James Faleke, has fashioned out a...

The Central Bank of Nigeria (CBN) yesterday injected $210 million into various segments of the inter-bank market as the value of naira dipped to N305.70 to the dollar at the official window. The naira which closed last week Friday at N305.65 to the dollar at CBN window before dropping … via...

The Central Bank of Nigeria (CBN) has expunged 36 sub-items from the broad list of items that were banned from accessing forex from the apex bank’s official window since 2015. The president of the Manufacturers Association of Nigeria (MAN), Frank Udemba-Jacobs, disclosed this at the annual...

The Central Bank of Nigeria has revealed that the nation's foreign reserve has reach $38.2 billion, the first time in nearly three years. The Governor of the Central Bank of Nigeria, Godwin Emefiele made the disclosure at the commissioning of the Blueband margarine production line in Agbara...

LAGOS, Dec 4 (Reuters) – Nigeria’s central bank on Monday weakened the naira marginally, selling dollars at 307 Naira each for the first time on the official interbank market, in what traders say could signal a gradual move to merge its multiple exchange rates. Nigeria’s convoluted exchange...

The nation’s external reserves have hit $34bn from $33.6bn attained on October 25, the Central Bank of Nigeria has stated. The reserves have been appreciating very fast after hitting $32bn on September 18. The Deputy Governor, Financial System Stability, CBN, Dr. Joseph Nnanna, who disclosed...

Nigerian naira appreciated to 363 naira to the dollar at the parallel market as Central Bank of Nigeria, CBN, continues to mop up liquidity in the forex exchange market. The currency on Thursday, however, dropped 0.02 per cent at the CBN official market to 305.65 naira to a dollar. At the I&E...

The Central Bank of Nigeria (CBN) has explained that the Monetary Policy Committee (MPC) left the monetary policy parameters unchanged to sustain gains so far achieved in inflation and forex stability. The apex bank Governor, Godwin Emefiele, stated this in Abuja after the MPC decisions. He...

Four Nigerian banks are operating with too many non-performing loans on their books and with liquidity ratios below the minimum requirement, two members of the central bank monetary policy committee said in statements on the bank’s website. They did not name the lenders but said the four banks...

The Central Bank of Nigeria (CBN) on Monday boosted the forex market by offering a total of $195 million in three segments of the market. In the wholesale segment of the inter-bank Foreign Exchange market, it auctioned $100 million and also intervened in the Small and Medium Enterprises (SMEs)...

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) says the country may stay longer in recession for a longer time. Emefiele made the disclosure after the monetary policy meeting on Tuesday in Abuja; THE CABLE reports. The CBN Governor said, “Available forecasts of key...

The Central Bank of Nigeria, CBN, has denied knowledge of the pile of cash found by the EFCC at an apartment in Ikoyi, Lagos state. There had been reports that the money was gotten from the CBN. CBN's Director of Information, Isaac Okoraafor, said CBN doesn't know the source of the cash...

The Central Bank of Nigeria (CBN) has issued new directives to Nigerians as regards sale of foreign exchange in the country. The apex bank has released an emergency mobile phone line for customers denied access to foreign exchange by banks for medical bill and school fees. Customers have been...

The Central Bank of Nigeria, CBN has granted a national license to the Development Bank of Nigeria, DBN, to begin operations. According to a statement from the federal ministry of finance, CBN approved the license on Tuesday in a letter to the Managing Director/Chief Executive of Officer of...

A staff of the Central Bank of Nigeria staff, Philip Togun, and Esther Afolabi, a former staff of WEMA Bank have been sentenced to 18 years in prison by a Federal High Court in Ibadan. They were arraigned for conspiracy, conversion, forgery, re-circulation of mutilated currencies and stealing...

The Nigerian Naira is set to appreciate further against the Dollar this week as the Central Bank of Nigeria (CBN) won't soften its attack on the black market. The apex bank has been injecting forex into the market to meet demands of genuine customers. This has crashed the price of dollars...

The Central Bank of Nigeria (CBN) has deployed mystery shoppers to catch commercial banks who engage in sharp practices as regards sale of foreign exchange to Nigerians. This is to guard against foreign exchange abuse by the lenders, reports say. According to Fidelity Bank Plc Managing...