Browsing: CBN

Reacting to the call in Abuja, the Secretary General of the CNPP, Chief Willy Ezeugwu, noted that “the CBN Governor had not done anything to warrant the call for his resignation hence PDP does not enjoy the support of other opposition political parties in this call.

Salam, in an interview with the News Agency of Nigeria on Tuesday in Abuja decried the continuous devaluation of the Naira, saying that the Nigerian currency was doing badly when compared to other currencies of the world.

MD/CEO of Heritage Bank Plc, Ifie Sekibo, gave this submission on the sidelines of the 14th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) with a theme: ‘Economic Recovery, Inclusion & Transformation: The Role of Banking and Finance’.

But talk is always cheap. And in a democracy with its full complement of free speech, talk is even cheaper, in some cases, crass. This is the context to situate the recent poorly choreographed verbal attacks on Emefiele and the CBN. Some Nigerians have blamed him even for their personal failings. Others think he has everything to do with the sudden arrival of the coronavirus pandemic since early last year. Emefiele has been blamed for Nigeria’s dwindling economic fortunes. And you would think he and he alone has the magisterial power to determine the price of crude oil in the international market.

According to a statement by the apex bank, ‘the management of the Central Bank of Nigeria has confirmed the appointment of Mr Osita Nwanisobi as the Director, Corporate Communications Department, with effect from August 25, 2021.”

A letter from the apex bank to all banks, signed by Haruna Mustafa, CBN’s Director, Banking Supervision Department, dated August 30, 2021 read: “the CBN has received and noted with concern reports of sharp practices by unscrupulous  customers to circumvent the new CBN policy on the sale of FOREX for overseas personal and business travels.

The CBN on Monday, August 30th issued a circular (BSD/DIR/PUB/LAB/14/059) to all banks lamenting that it has “received and noted with concern reports of sharp practices by some unscrupulous customers to circumvent the new CBN policy on the sale of forex for overseas personal and business travel”.

The Ecobank Nigeria Managing Director noted that though Nigeria has made moderate progress in terms of infrastructure development regarding improved access to finance, strong telecom penetration and moderating power production, there is limited productivity in the transport sector when compared to other sectors and regions. He lamented that private sector involvement in infrastructure development is constrained by selection of low-impact projects; weak feasibility study and business plan; delays in obtaining licenses, approvals and permits, and inability to secure guarantees.