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Naira Redesign El-Rufai Needs To Stop Deluding Himself

Naira Redesign: El-Rufai Needs To Stop Deluding Himself

February 23, 2023 4:35 am

Politics, for Nigerian politicians, is a mere clash of interests which they often manage to masquerade as a contest of principles. For them, politics is simply an avenue that allows them to make their selfish desires seem like national interests without raising so much suspicion. 

Of a truth, millions of innocent and law-abiding Nigerians did not see the current naira swap saga coming. Over the past two weeks, the cash redesign policy has seen an unexpected wave of cash crunch visited on the long-suffering populace without the brains behind it considering the grave implications on them or how to cushion …

The Fulani Oligarchy's Stooge Called Godwin Emefiele

The Fulani Oligarchy’s Stooge Called Godwin Emefiele Of CBN

November 7, 2022 2:24 am

Mr. Godwin Emefiele is without any argument the worst central bank governor Nigeria has ever had. Over the last eight years, he has plunged the Naira into an unprecedented fall with his insanely clueless monetary policies which have left Africa’s most populous country on her knees, made her the poverty capital of the world, and deepened the misery of her citizens. 

Nigerians won’t be having it this bad if they didn’t have a stooge as the head of their apex bank and the fact that he has escaped being fired despite his open sabotage against the Nigerian economy tells a …

Naira Redesign Buhari Throws Full Wight Behind CBN

Naira Redesign: Buhari Throws Full Wight Behind CBN

October 31, 2022 6:05 am

President Muhammadu Buhari has thrown his full weight behind the decision of the Central Bank of Nigeria, CBN, to launch new designs of the naira denominations.

According to Buhari, Nigerians who are in possession of illicit money stashed in the soil would have problems with the new naira notes.

He, however, used the opportunity to assure that Nigerians would gain a lot when the redesigned new notes are launched.

Recall that the CBN Governor, Godwin Emefiele had announced the launch of the redesigned naira notes on Friday.

Read Also: Northern Group Faults CBN Move To Redesign Naira Notes

Africa …

Polaris Bank CEO, Tokunbo Abiru Retires

Reps Directs CBN To Halt Planned Sale Of Polaris Bank

October 12, 2022 9:30 pm

The Nigerian House of Representatives has made a fresh directive to the Central Bank of Nigeria (CBN) to make sure that they fully suspend the planned sales of Polaris Bank, one of the financial institutions in Nigeria.

The House of Reps has also resolved that they would be setting up an ad hoc committee which would be intended to investigate the interest of the federal government in the bank before its sales.

This decision had also been following a motion of urgent public importance which had been moved by Henry Nwajuba on Wednesday during plenary.

Read Also: Nigeria Now A

…
Nigeria Now A Big Exporter Of Rice, CBN Gov Emefiele Declares

Nigeria Now A Big Exporter Of Rice, CBN Gov Emefiele Declares

August 28, 2022 2:41 am

The Central Bank of Nigeria (CBN) has declared that Nigeria has now become an exporter of rice following the impacts of its several policies and particularly its Anchor Borrowers Programme (ABP), even as it said it was working to boost the industrial capacity of the country.

CBN governor, Godwin Emefiele, who disclosed this while speaking at a seminar for Finance Correspondents and Business Editors with the theme, “Policy Options for Economic Diversification: Thinking Outside the Crude Oil-Box”, on Saturday, noted that the ABP has reversed Nigeria from depending on importing rice to now exporting rice.

“The Central Bank of Nigeria, …

Senate Invites Emefiele Over Fx Crisis, Naira Devaluation

Senate Invites Emefiele Over Fx Crisis, Naira Devaluation

July 28, 2022 5:05 am

In the face of the ongoing crisis in the Nigerian foreign exchange market, the Senate has resolved to summon the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, to provide answers and inform senators in a closed session on the reasons for the rapid depreciation of the value of the naira.

The Red Chambers of the national assembly also mandated the Senate Committee on Banking, Insurance and Other Financial Institutions to assess the impact of the CBN intervention funds meant to support critical sectors of the economy.

The resolutions were reached by lawmakers after the upper chamber …

Emefiele Reps Move To Prohibit CBN Chiefs From Politics

Emefiele: Reps Move To Prohibit CBN Chiefs From Politics

July 27, 2022 3:38 am

The process of barring politicians and those with political links from holding executive posts at the Central Bank of Nigeria (CBN) has begun in the House of Representatives after the recent disgracing outing of the current siting Governor for the apex bank.

Politics will also be prohibited for currently employed senior officials of the apex bank.

This is being proposed in the Central Bank of Nigeria (Amendment) Bill, 2022, which is seeking to amend the Central Bank of Nigeria Act 2007, which passed second reading at the plenary on Tuesday.

The legislation is titled ‘A Bill for an Act …

Illegal Conversion Of Currency: CBN Makes More Clarifications

Illegal Conversion Of Currency: CBN Makes More Clarifications

July 21, 2022 11:39 am

The Central Bank of Nigeria (CBN) finally come out to give better clarifications on the recent warning against converting the naira to foreign exchange, for political purposes.

The CBN Governor, Godwin Emefiele, had, at a post-Monetary Policy Committee (MPC) meeting briefing made an open warning to Nigerians against converting the Nigerian Naira to foreign exchange, for electioneering purposes.

Read Also: MPC: CBN Shoots Up Benchmark Interest Rate To 14%

Following the directive by the Governor, there had been speculations in the social space that the CBN may clamp down on genuine businesses in its bid to stop politicians.

But the …

Illegal Conversion Of Currency: CBN Makes More Clarifications

MPC: CBN Shoots Up Benchmark Interest Rate To 14%

July 19, 2022 5:26 pm

In a bid to further rejig their rate of financial restriction, the Monetary Policy Committee (MPC) sector of the Central Bank of Nigeria (CBN) has on Tuesday maximised the Monetary Policy Rate (MPR) up to 14 per cent from its initial 13 per cent rate.

The CBN Governor, Godwin Emefiele had also announced that the MPC had also unanimously agreed to hold all other monetary policy parameters in a constant rate while the Asymmetric Corridor had been retained at +100 and -700 basis points around the MPR, the Cash Reserved Ratio (CRR) at 27.5 per cent and the Liquidity Ratio …

2023: Emefiele Strikes Off Suit Against INEC, Malami

Emefiele Reiterates Need For Africa To Finance Growth

May 13, 2022 6:54 am

Godwin Emefiele who is a presidential aspirant and also the Governor of the Central Bank of Nigeria (CBN), has opined that Africa needs to finance her own growth.

The CBN Governor made this clear at the Africa Finance Corporation (AFC) Live Infrastructure Solutions Summit held in Abuja on Thursday.

He said that over the past two years, Africa had suffered crises each with profound implications for the economies of the continent.

Read Also: Emefiele’s Continued Stay In Office Dangerous –Tambuwal

Emefiele who was represented by his Deputy and Board Chairman of AFC, Dr Kingsley Obiora, said the COVID-19 crisis with …

Emefiele’s Continued Stay In Office Dangerous –Tambuwal

Emefiele’s Continued Stay In Office Dangerous –Tambuwal

May 8, 2022 1:55 am

The Governor of Sokoto State and People’s Democratic Party (PDP) presidential aspirant Alhaji Aminu Tambuwal on Saturday urged President Muhammadu Buhari to as a matter of urgent national importance, sack the Governor of Central Bank of Nigeria, Godwin Emefiele.

Governor Tambuwal, who made this call in Jalingo shortly after interacting with party delegates ahead of the presidential primaries of the party, pointed out that after openly identifying with a political party, Emefiele’s continued stay in the office was dangerous for the country.

He insisted that he will respect a consensus arrangement of the party for the presidential slot if it …

2023 Akeredolu Bombs Emefiele, Asks Buhari To Fire Him

2023: Akeredolu Bombs Emefiele, Asks Buhari To Fire Him

May 7, 2022 2:07 am

The Governor of Ondo State and Chairman of the Southern Governors’ Forum has lambasted the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, over his brazen act of running for the 2023 Presidency whilst still in in office as the counry’s chief banker.

Akeredolu, a Senior Advocate of Nigeria, declared Emefiele’s action as odd and one that constituted illegality.

The Ondo governor noted strongly that Emefiele must quit his role as CBN governor else the President, Major General Muhammadu Buhari (retd), must remove him forthwith.
Emefiele, 60, has been CBN governor since 2014.

He reportedly picked the …

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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