In what can be termed a peculiar legal case, an Abuja-based businessman, Sesugh Akume, has filed a suit at the Federal High Court, Abuja, asking the court to determine whether the Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele and the apex bank itself, have not been grossly incompetent by failing to provide price Read More…
If all plans go as intended, the Central Bank of Nigeria (CBN) will be launching its own digital currency by the end of the year. According to an official of the nation’s premier bank, Central Bank Director of Information Technology, Rakiya Mohammed, the project to create some form of digital currency had been in the Read More…
The Central Bank of Nigeria (CBN) has urged commercial banks to leverage their presence in other parts of Africa to support Nigerian businesses seeking to plant their footprints into new markets. The CBN Governor, Mr Godwin Emefiele, gave the advice at the Zenith Bank’s 2021 Export Seminar on Tuesday in Lagos. Emefiele called on the Read More…
The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to address the supply side variables impacting domestic prices.Dr Muda Yusuf, Director-General, LCCI, spoke in an interview with the News Agency of Nigeria (NAN) in reaction to the October 2020 inflation rate. The News Agency of Nigeria (NAN) reports Read More…
The October Purchasing Managers’ Index for the manufacturing sector stood at 49.4 index points, indicating a reversal of five consecutive months of contraction which started in May. This is according to the result of PMI survey released by the Statistics Department of Central Bank of Nigeria (CBN) on Tuesday. The manufacturing PMI for the month Read More…
The Central Bank of Nigeria (CBN), has directed all banks operating in the country to always observe strict compliance with SWIFT Universal Confirmation Requirements. The directive was outlined in a circular issued by Mr Sam Okojere, CBN’s Director, Banking Services Department. Okojere directed all SWIFT customers to provide information on the outcome of all their Read More…
The Central Bank of Nigeria (CBN) on Monday announced reduction of the Monetary Policy Rate (MPR) from 12.5 per cent to 11.5 per cent. Mr Godwin Emefiele, the CBN Governor made the announcement while presenting the communiqué the 275th Monetary Policy Committee (MPC) meeting on Tuesday. Emefiele said that the decision to reduce the MPR was Read More…
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has retained Monetary Policy Rate (MPR) at 12.5 per cent and held all other policy parameters constant. The CBN Governor, Mr Godwin Emefiele disclosed this while reading the communique after the MPC meeting in Abuja on Monday. Emefiele explained that the committee retained Read More…
The Central Bank of Nigeria (CBN) has unveiled guidelines for Non-Interest Financial Institutions under its Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS) and Micro, Small and Medium Enterprises Development Fund (MSMEDF). The CBN made this known in its latest guidelines released on its website on Tuesday. It said the 10 guidelines also included the Read More…
PICTURE ABOVE: Ears of orange maize lines following harvesting, on experimental plots at the Zambia Agriculture Research Institute (ZARI). (Via CIMMYT on Flickr) The Central Bank of Nigeria (CBN) has directed all athorised dealers to discontinue the processing of Form M for the importation of maize with immediate effect. The CBN made this known in a Read More…
