CBN Archives — Page 16 of 19 — City Business News

May 13, 2019 No Responses

‘No Monies Missing, Stolen In CBN’

The Management of the Central Bank of Nigeria (CBN) has been notified of a purported audio recording of selective conversations amongst the Governor, Deputy Governor and some Senior Officials. Contrary to the headline-grabbing narrative that the discussion was about a...

May 10, 2019 No Responses

Naira Remains Stable At Parallel Market

The Naira on Thursday remained stable at the parallel market in Lagos, exchanging at N359.3 to the dollar. The Pound Sterling and the Euro traded at N472 and N402, respectively. At the Bureau De Change (BDC) window, the naira was...

May 8, 2019 No Responses

CBN Lifts Forex Market With $205m

The interbank segment of the Foreign Exchange Market has received a boost of $205 million from the Central Bank of Nigeria (CBN) following the sales concluded on Tuesday, May 7, 2019. Figures obtained from the CBN indicated that authorized dealers...

April 29, 2019 No Responses

CBN To Withdraw Dirty, Mutilated Notes

The Central Bank of Nigeria (CBN) has unveiled fresh plans to withdraw from circulation dirty and mutilated notes. According to the apex Bank, a large proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit...

April 24, 2019 No Responses

CBN Records N718.0b, $1.1b From NCR In 2018

The Central Bank of Nigeria (CBN) has said that it recorded a huge leap in the value of financing statements under the National Collateral Registry (NCR) in the last five years from N487 billion and $20 million in 2017 to...

April 17, 2019 No Responses

CBN Lifts Forex Market With $210m

The interbank segment of the Foreign Exchange Market has received a boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, April 16, 2019. According to figures obtained from the Bank, authorized dealers in...

April 13, 2019 No Responses

CBN Boosts Anchor Borrowers Programme With N174. 48B

The Central Bank of Nigeria (CBN) says it has so far cumulatively disbursed N174. 48 billion through 19 financial institutions under its Anchor Borrowers Programme since 2015. The Director, Corporate Communications Department of the bank, Mr Isaac Okoroafor st...

March 31, 2019 No Responses

Analysts Make Assessment Of CBN’s Report Card Under Emefiele

The Central Bank of Nigeria Governor, Mr. Godwin Emefiele can be described as the proverbial cat with nine lives considering the storms he weathered in the past five years. Typically, in Nigeria’s political scene, it is usually not easy for...

March 29, 2019 No Responses

MPR Reduction: More Experts Laud CBN

The Lagos Chamber of Commerce and Industry (LCCI) has commended the Central Bank of Nigeria (CBN) for reducing the Monetary Policy Rate (MPR) by 50 basis points from 14 per cent to 13.5 per cent. Its Director-General, Mr. Muda Yusuf...

March 29, 2019 No Responses

Sustaining Industrial Base Through FOREX Restriction On 41 Items

Gradually, the Foreign Exchange (FOREX) restriction placed on 41 items by the Central Bank of Nigeria (CBN) is generating positive impact across the country. The policy, which among others is designed to protect local production and create employme...

March 27, 2019 No Responses

CBN Pegs Interest Rate At 13.5 Per Cent

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has for the first time in two years adjusted interest rate downwards to 13.5 per cent. Briefing Journalists after the meeting on Tuesday, CBN Governor, Godwin Emefiele said:...

March 19, 2019 No Responses

CBN Targets $10b Foreign Exchange From Palm Oil

As part of measures to consolidate revenue base, the Central Bank of Nigeria (CBN) has unveiled fresh agenda to position Nigeria as the world’s third largest palm oil producer. Under the agenda, Nigeria is expected to overtake Thailand and Columbia...

March 15, 2019 No Responses

Making CBN’s Policy Rescue Of Textile Industry Work

Nigeria’s moribund textile industry has received a boost in a Central Bank of Nigeria policy measure, restricting the sale of foreign exchange to importers of textiles and other clothing materials in the country. Announced recently, the directive takes immed...

March 14, 2019 No Responses

CBN: Nigeria’s Balance Of Payments Records $2.80m Surplus

Nigeria’s Balance of Payment improved by a surplus of $2.80 million in the fourth quarter of 2018, from $4.54 million recorded in the third quarter of same year, the Central Bank of Nigeria (CBN) disclosed on Wednesday. According to a...