Central Bank of Nigeria’

APC Governors And Their New Found Love For Nigerians

APC Governors And Their New Found Love For Nigerians

February 20, 2023 3:35 am

Wobbly from the day it was conceived, and haphazard in its implementation, the Central Bank of Nigeria (CBN)’s Naira redesign policy over the past few days is snowballing into a national crisis with harsh implications for the economy, social cohesion, and national security. Despite the assurances from the President, the situation has continued to worsen as they look to be no end to the mess in sight. Shockingly, Nigerians appear to be on the receiving side of solidarity from Governors of the All Progressives Congress (APC) for the first time and it doesn’t take much to blow the cover of …

Scarcity Of New Naira: CBN Can't Get It Right With Emefiele

Scarcity Of New Naira: CBN Can’t Get It Right With Emefiele

January 30, 2023 4:50 am

Ever since he lost his bid to transfer his cluelessness, insensitivity, and screaming incompetence from Nigeria’s apex bank to Aso Rock, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefelie has not been the same man he was known to have always been. Suddenly, he has found the balls he hitherto lacked, he has remembered his economic theories which he previously never cared about, and for the first time, he seems to be out to fight the rascality in the Nigerian monetary environment. However, the big question is, can a Leopard change its colours? The simple answer is …

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

…
Trapped Funds CBN Announces Release Of $265m To Airlines

Trapped Funds: CBN Announces Release Of $265m To Airlines

August 27, 2022 5:04 am

The Central Bank of Nigeria (CBN) has announced the release of about sum of $265 million to airlines operating in the country to settle outstanding ticket sales in an apparent move to check a brewing crisis in the country’s aviation sector.

According to details obtained by Africa Daily News, New York, the breakdown of the figure released on Friday indicates that the sum of $230 million was given as special Forex intervention while another sum of $35 million was released through the Retail SMIS auction.

Confirming the release, the Director, Corporate Communications Department at the CBN, Mr. Osita Nwanisobi, said …

Trapped $464m More Airlines To Boycott Nigeria Over - IATA

Trapped $464m: More Airlines To Boycott Nigeria – IATA

August 20, 2022 2:54 am

The International Air Transport Association (IATA), has asserted that except Nigerian authorities facilitate the release $464million in revenue due to foreign airlines and trapped in the Central Bank of Nigeria (CBN), more airlines may suspend operations into Nigeria.

In a statement issued on Friday which was obtained by Africa Daily News, New York, the regional vice president, Africa, and Middle East, Kamil Alawadhi, disclosed that IATA was seriously disappointed that the amount of funds belonging to airlines, which were blocked from repatriation by the Nigerian government has now grown to $464 million in July.

According to him, the government should …

eNaira Transactions Hit N4bn — Emefiele

eNaira Transactions Hits ₦4bn — Emefiele

August 19, 2022 5:32 am
Reports reaching Africa Daily News, New York have it that, since its inception in October of last year, the Central Bank of Nigeria’s (CBN) e-Naira virtual currency network has seen over ₦4 billion in transactions.
Mr. Godwin Emefiele who is the CBN Governor disclosed this to the public, yesterday, at e-Naira’s Hackathon grand finale, hosted in Abuja.
In his words, ‘Since the launch of this great initiative, the e-Naira has reached 840,000 downloads, with about 270,000 active wallets comprising over 252,000 consumer wallets and 17,000 merchant wallets.’
‘In addition, volume and value of transactions on the platform have been
…
Nigerian Banks To Pay Higher Interest On Savings – CBN

Nigerian Banks To Pay Higher Interest On Savings – CBN

August 18, 2022 5:41 am

The Central Bank of Nigeria, CBN has confirmed that henceforth, the minimum interest rate on Naira savings deposits has now been increased from 0.15 percent to 4.2 percent.

Africa Daily News, New York reports that the recent change was implemented on August 1, 2022.

The rate has been increased from 10% to 30% of the Financial Regulation Rate, according to a memo from the bank dated August 15, 2022, and issued by Haruna Mustafa, director of the banking supervision department (MPR).

In an effort to combat inflation, the bank hiked the standard interest rate to 14% in July from …

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 …

Emefiele Violated His office, Must Resign, Face Probe - PDP

Emefiele Violated His office, Must Resign, Face Probe – PDP

March 26, 2022 2:46 am
Nigeria’s All Progressives Congress main opposition party, the Peoples Democratic Party (PDP) has swiftly demanded the immediate resignation and probe of the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, following his recent involvement and entanglement with alleged campaign movement of the All Progressives Congress (APC) purportedly in the race for the 2023 Presidency.
The PDP, in a statement by its National Publicity Secretary, Hon. Debo Ologunagba which was sighted by Africa Daily News, New York stated that the campaign posters in circulation were a confirmation of the CBN Governor’s partisan involvement and entanglement with the APC,
…
Cyber Security CBN Launches ‘NoGoFallMaga’ Campaign

Cyber Security: CBN Launches ‘NoGoFallMaga’ Campaign

July 20, 2021 1:57 am

In a bid to tackle internet fraud, the Central Bank of Nigeria (CBN) has partnered with some cybersecurity stakeholders to launch a new cyber awareness campaign tagged ‘#NoGoFallMaga’.

Africa Daily News, New York reports that the initiative was launched in collaboration with Committee of Chief Information Security Officers of the Nigeria Financial Industry (CCISONFI) and Cybersafe Foundation (CSF).

Mr Abumere Igboa, CCISONFI Chairman, announced the partnership on Monday during a Cybersecurity Awareness Campaign Media Parley held at Radisson Blu, Victoria Island, Lagos.

‘This initiative looks at tackling cybercrime that poses a threat to customers and the Nigeria citizenry in conducting …

EndSARS Crusaders Sue CBN

EndSARS Crusaders Sue CBN

November 13, 2020 9:16 am

Some #EndSARS promoters whose bank accounts were frozen by the apex bank have dragged the Central Bank of Nigeria, CBN, to court over the freezing of their bank accounts. Report says that fourteen out of the twenty campaigners filed a motion through their team of lawyers led by human rights activist, Mr. Femi Falana, SAN, asking the court to set aside an Ex Parte directing the freezing of their accounts. They disclosed that they were denied a fair hearing by the court before their bank accounts were frozen by the CBN.

They said that the freezing order the court issued …

Boko Haram - Again, DSS Invites Mailafiya (1)

Boko Haram: Again, DSS Invites Mailafiya

September 11, 2020 2:06 pm

The Presidential candidate of the African Democratic Congress and a former Deputy Governor of the Central Bank of Nigeria, Dr Obadiah Mailafiya has again been invited by the Directorate of State Services (DSS).

Africa Daily News, New York recalls that it is the third time that the DSS is inviting Mr. Mailafiya over comments he made on radio, concerning Boko Haram.

Mailafiya had alleged that a repentant bandit told him that a serving northern governor was a commander of the terrorist group.

Africa Daily News, New York also recalls that, a few days after his second invitation by the DSS, …

TRENDING

Breaking

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.

follow on social media

Facebook Twitter Youtube Telegram Linkedin

subscribe to newsletter

© 2018 - 2020 Africa digital news, New York
Powered by

People and Polity