Tag: central bank of nigeria
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Justice Oshodi refuses to withdraw from Emefiele’s trial
The ongoing trial of former Central Bank of Nigeria Governor, Godwin Emefiele has taken a significant turn, as Justice Rahman Oshodi of the Lagos State Special Offences Court in Ikeja has dismissed a request for his recusal.
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CBN releases $500m to clear more verified Forex liabilities
The Central Bank of Nigeria (CBN) says it has released 500 million dollars to various sectors in its determination to address the backlog of verified foreign exchange transactions. Mrs Hakama Sidi-Ali, CBN’s Acting Director, Corporate Com
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CPPE urges CBN to implement forex stabilisation efforts
The Centre for the Promotion of Private Enterprise (CPPE) has urged the Central Bank of Nigeria to implement steps identified to reduce pressure on the foreign exchange market.
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SMEs struggle as Zenith bank offers N3.5bn loan to staff at 4 per cent
Zenith Bank Plc, one of Nigeria’s Tier-1 banks, has provided loans totaling N3.517 billion to its management staff at an interest rate of four per cent, as reported in its second-quarter 2023 financial statement. This revelation which was first brought to light by the Economy Post comes against the backdrop of the Central Bank of…
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NGX market capitalization surges by N144 billion
Equities investors were all smiles as the Nigerian Exchange Group Limited (NGX) witnessed a surge in market capitalization, soaring by N144 billion during Monday’s trading session. Renewed bargain hunting and profit-taking activities contributed to the positive sentiments among investors as they eagerly await the outcome of the ongoing Monetary Policy Committee meeting of the Central…
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CBN revokes licences of 132 MfBs, others
The Central Bank of Nigeria (CBN) has announced revocation the licences of 132 Microfinance Banks, three Finance Companies and four Primary Mortgage Banks across the country. The revocation is contained in a gazetted circular signed by the CBN Governor, Mr Godwin Emefiele, in Abuja. According to Emefiele, the Microfinance Banks, Finance Companies and Primary Mortgage…
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Factcheck: Was Emefiele granted study leave by President Buhari ahead of May 29?
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has been faced with a series of challenges ranging from economic crises to policy controversies, and his leadership of the Bank has been marked by both praise and criticism. One of the major challenges faced by Emefiele was the severe economic recession that hit Nigeria…
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Naira scarcity: Drama as man takes N50m old notes in sack bags to CBN (PHOTOS)
An unidentified man has caused a stir in one of the Central Bank of Nigeria (CBN) branches in Kano when he went to deposit N50 million old naira notes. Recall that President Muhammadu Buhari, on Thursday, February 16, 2023, insisted that the old 1,000 and 500 notes are no longer legal tender. Following the directive,…
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New Notes: FG, CBN to make decision after Supreme Court ruling
The federal government and the Central Bank of Nigeria have promised to take a stand after Supreme court ruling today, Wednesday. This was made known by the Senior Special Assistant to the President on media and Publicity, Garba Shehu, saying that the FG would make its position on the new naira policy known after the…
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Redesigned Notes: No extension of deposit deadline – CBN
The Central Bank of Nigeria (CBN) went to Jalingo main market on Saturday to enlighten traders and buyers on the importance of depositing their old Naira notes in banks on or before January 31, 2023 to avoid being useless in their hands from February 1st, 2023.