The Central Bank of Nigeria has said it is all out to tackle rising inflation in Nigeria. The acting director of the Banking Supervision Department of CBN, Dr Adetona Adedeji, disclosed this on Friday on the bank’s second episode of the talk podcast on its YouTube page. He affirmed the bank’s decision to prioritise combating […]
Nigerian Govt announces plan to merge CBN’s NIRSAL, Bank of Agriculture
The National Council on Privatisation, NCP, has announced that it is aiming to merge the Central Bank of Nigeria’s NIRSAL Microfinance Ltd with the Bank of Agriculture. The Council disclosed this in a statement on Wednesday, noting that it also plans to inject new capital into the institutions to rejuvenate them following the merger. These […]
CBN disowns notice on cryptocurrency transactions
The Central Bank of Nigeria says a notice circulating on social media about the risk of cryptocurrency is fake news. The Apex disclosed this via its official X account, urging the public to disregard the purported notice for all Deposits Money Bank, Non-Bank Financial Institutions, and other Financial Institutions. The notice reminded “Institutions that dealing […]
CBN sells dollars to BDCs
Naira continues to slump against dollar despite CBN’s intervention
The naira has continued its depreciation against the US dollar for the fifth time despite the Central Bank of Nigeria’s sale of foreign currencies to legitimate Bureau De Change operators. FMDQ data showed that the naira dropped to N1,300.15 per dollar on Tuesday from N1,234.49 traded on Monday. The figure represents N65.66 (5 per cent) […]
CBN sells additional $10,000 to BDCs at $1,021 per dollar
The Central Bank of Nigeria, CBN, has approved the sale of an additional 10,000 dollars to 1,583 eligible Bureaux De Change, BDC, operators in the country to meet market demands. The CBN’s Director, Trade and Exchange Department, Dr Hassan Mahmud, made this known in a letter addressed to the President, Association of Bureau De Change […]
Kogi election: CBN governor ordered to appear in court
The Kogi Governorship Election Petition Tribunal sitting in Abuja, on Monday, ordered the Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, to unfailingly appear before it on Tuesday. According to NAN, the governor is to appear to give some explanations on the role of the apex bank in the November 11, 2023, off-cycle […]
Recapitalisation: How Access Bank will meet CBN’s directive – Aig-Imoukhuede
The Central Bank of Nigeria (CBN), on 29 March, directed commercial banks in Nigeria with international authorisation to shore up their capital base to N500 billion. The post Recapitalisation: How Access Bank will meet CBN’s directive – Aig-Imoukhuede appeared first on Premium Times Nigeria. Powered by WPeMatico
Concerns mount as Osun governor appoints chairperson for public-listed company
The 2023 audited annual report of Living Trust Mortgage Bank shows Citi Trust Holdings now holds 40.82 per cent, while Osun State Government owns 39.83 per cent. The post Concerns mount as Osun governor appoints chairperson for public-listed company appeared first on Premium Times Nigeria. Powered by WPeMatico
Tinubu’s government has not borrowed from CBN – Finance Minister
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said the Tinubu-led Federal Government has not borrowed money from the Central Bank of Nigeria, CBN. Edun made this disclosure on Thursday while fielding questions from newsmen after a meeting with investors at the ongoing Spring Meetings of the IMF and World […]