CBN

INEC to deal with ‘see and buy’ offenders in today’s Osun governorship poll
CBN INEC National News Nigeria Olusegun Agbaje

INEC to deal with ‘see and buy’ offenders in today’s Osun governorship poll

PHOTO: BBC • Releases Complaints Phone Lines The Independent National Electoral Commission (INEC) yesterday said it had perfected plans with the security agencies to decisively deal with anyone engaging in any illicit act, particularly the notorious act of “see and buy,” as it is called in local parlance, in today’s […]

CBN withdraws Skye Bank’s operating license
Breaking News CBN National News Nigeria Skye Bank Skye Bank’s operating license

CBN withdraws Skye Bank’s operating license

Skye Bank The Central Bank of Nigeria (CBN) has revoked the operating licence of Skye Bank Plc with immediate effect. This was declared by the apex bank Governor Godwin Emefile on Friday evening in Lagos. Meanwhile, Polaris Bank has been established to assume ownership of the assets and liabilities of […]

CBN, government, financial institutions promise to tackle MSMEs’ challenges
Business Business News CBN Central Bank of Nigeria MSME

CBN, government, financial institutions promise to tackle MSMEs’ challenges

[FILE PHOTO] Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria January 26, 2016. REUTERS/Afolabi Sotunde/File Photo The Federal Government, Central Bank of Nigeria (CBN) and other financial institutions in the country yesterday in Abuja said challenges confronting Micro, Small and Medium Enterprises […]

Operators seek fiscal policies to aid real sector performance
CBN Industry LCCI Muda Yusuf

Operators seek fiscal policies to aid real sector performance

Muda Yusuf, LCCI Boss. Though the Manufacturing Purchasing Managers’ Index (PMI) for August stood at 57.1 index points, indicating further expansion in the manufacturing sector for the 17th consecutive month, stakeholders in the private sector have urged for fiscal policy measures that check unintended consequences on cost of operations of […]

Banks in massive rip-off of customers with essential information
bank Business Business News CBN Customer data information

Banks in massive rip-off of customers with essential information

Nigeria banks have surreptitiously used their bargaining strength (knowledge) against the “half-informed” customers, numbering in tens of millions today. For example, how many times in a month will a savings account customer make withdrawals and lose the right of interest rate payment? This is one of the least things the […]

Equity market depreciates 0.77% on banks’ stocks slump
Business Capital Market CBN Central Bank of Nigeria Dangote Forte Oil Guaranty Trust Bank Lafarge Africa Nigerian Stock Exchange NSE Stanbic IBTC Holdings

Equity market depreciates 0.77% on banks’ stocks slump

Nigerian Stock Exchange Central Bank of Nigeria (CBN) huge fines on four deposit money banks over alleged illegal fund repatriation on behalf of MTN Nigeria weighed heavily on the local bourse yesterday, causing the All-share index to slide by 0.77 per cent. The Nigerian Stock Exchange-All Share Index (NSE-ASI) decreased […]

CBN fines 4 banks N5.87bn over foreign exchange illegal deals
CBN Citibank Diamond Bank Isaac Okorafor National News Nigeria Stanbic IBTC Standard Chartered Bank

CBN fines 4 banks N5.87bn over foreign exchange illegal deals

Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria January 26, 2016. REUTERS/Afolabi Sotunde/File Photo The Central Bank of Nigeria (CBN) on Wednesday imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged irregularities The banks, according […]

Taking advantage of off-taking, anchor borrowing agric schemes 
Agriculture BusinessAgro CBN

Taking advantage of off-taking, anchor borrowing agric schemes 

Diversification of the economy is not an empty pronouncement. It involves deliberate policies, actions and investments, backed with motivation and incentives. FEMI IBIROGBA writes on how farmers can benefit from the anchor borrowing scheme through off-taking contracts with food processors. Off-taking of farm produce has been described as a means […]

CBN, commercial banks to revive real sector with N4 trillion facility
Ahmed Abdullahi Business Business News CBN Commercial Banks

CBN, commercial banks to revive real sector with N4 trillion facility

CBN Governor, Godwin Emefiele Succour may soon come the way of manufacturers and entrepreneurs, especially the agriculture sector, as the banking industry’s accumulated cash reserve, ratio (CSR) estimated at N4.11 trillion, would be opened for lending through a target approach. Specifically, the Central Bank of Nigeria (CBN) and commercial banks […]

CBN collects N7 trillion for government, withdraws N977b bad notes
CBN Godwin Emefiele National News Nigeria

CBN collects N7 trillion for government, withdraws N977b bad notes

CBN •’Nigeria-China currency sawp deal strictly on imports’ In about eight months after the 2017 fiscal year, the annual report of the Central Bank of Nigeria (CBN) has showed that it recorded N7.3 trillion revenue.The development, which also affirmed that finances were relatively stable during the period, indicated a 30.3 […]