Browsing: CBN

The CBN had last week stopped sales of FX through Bureau de Change operators and announced that foreign exchange would now be sold through commercial banks.

The News Agency of Nigeria reports that Sanusi was born on July 31, 1961.

Godwin Emefiele, the CBN Governor, who has shown capacity and pluckiness managing Nigeria’s reserve bank these past years of global cum local  economic crisis, made this announcement on Tuesday, July 27 while presenting a communique from the Monetary Policy Committee (MPC) meeting. He cited unwholesome business practices of the BDCs which run contrary to the rules of engagement thus putting much strain on the naira.

The Norrenberger Money Market Fund is a collective investment scheme, registered with the Securities and Exchange Commission (SEC). The fund invests in Nigerian short-term money market instruments such as Federal Government Treasury Bills, Bankers’ Acceptance, Commercial Papers, Certificate of Deposit, and other instruments introduced and approved by the Central Bank of Nigeria (CBN) from time to time.

The directive follows the CBN’s decision to discontinue sale of FOREX to Nigerians through the Bureaux de Change operators.

The CBN governor, Godwin Emefiele, announced this on Tuesday in a live TV broadcast after announcing that the bank had retained its benchmark policy rate.

Speaking with journalists in Abuja at the weekend, the Acting Director, Corporate Communications Department of the Bank, Osita Nwanisobi said the Nigerian banking system had proven to be very sturdy in spite of the global challenges posed by the corona virus pandemic (COVID-19). He made this clarification in response to certain false and unfounded stories circulating in the social media attacking the soundness and safety of some Nigerian banks.

Dr. Muda Yusuf, outgoing Director-General, LCCI, gave the advice in an interview with the News Agency of Nigeria on Sunday in Lagos.

The CBN disclosed this in a circular dated July 16, 2021, titled: “Sugar Importation in Nigeria.”

The government plans to generate 14,000 direct and indirect jobs from the venture.

He also restated the federal government’s strong commitment towards infrastructural and national economic development, and called on local investors and the international investment community to take advantage of the many opportunities offered by the Nigerian economy,

Coordinator, RIFAN and CBN special project in Niger State, Malam Idris Usman, made this known in Bida during the inauguration of the 2021 wet season distribution and sale of paddy rice to farmers

According to SERAP’s deputy director, Kolawole Oluwadare, the organization is also seeking an order to compel the president to “explain and clarify whether the $25 billion (N9.7 trillion) overdraft reportedly obtained from the CBN is within the five-per cent limit of the actual revenue of the government for 2020.”

The Vice-Chancellor of the University of Lagos, Prof. Oluwatoyin Ogundipe announced this at a news conference on activities lined up for the institution’s 51st convocation on Wednesday in Lagos.

The maize was released from the Strategic Maize Reserve under the Anchor Borrowers’ Programme as part of efforts to control the prices of the product in the Nigerian market.

James Faleke, Chairman, House Committee on Finance and Rep. Victor Nwokolo, Chairman, House Committee on Banking and Currency, led members to commence the investigation on Monday in Abuja.

He maintained that the former Deputy Governor of the Central Bank of Nigeria (CBN), failed to demonstrate any deep knowledge of governance, finance and basic statistics, throughout his much talked about radio interview.

The acting National Publicity Secretary of the Chief Okeke-led faction, Ikechukwu Chukwunyere, stated this while briefing journalists on Wednesday, in Abuja.

NOVA Merchant Bank offers an integrated suite of financial solutions covering wholesale banking, investment banking, asset management, wealth management, trade services, transaction banking, cash management and digital banking.

The CBN Governor,  Godwin Emefiele, agreed to the proposal from the Governor of the Central Bank of The Gambia,  Buah Saidy, who led a delegation to visit him on Tuesday