CBN Archives — Page 17 of 20 — City Business News

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...

March 6, 2019 No Responses

Nigeria Stops Forex Sale To Textile Importers

Citing need to encourage growth of the textile and cotton industry, the Central Bank of Nigeria, CBN, on Tuesday announced the restrictions of sale of foreign exchange to importers of textiles and other clothing materials with immediate effect. Speaking during...

February 27, 2019 No Responses

Nigeria Boosts Foreign Exchange Market With $210m

The Central Bank of Nigeria (CBN) has injected 210 million dollars into the inter-bank Foreign Exchange Market to ensure adequate supply of foreign exchange to customers. The CBN Director, Corporate Communications Department, Isaac Okorafor, in a statement on ...

February 20, 2019 No Responses

Nigeria Lifts FOREX Market With $210m

The Central Bank of Nigeria (CBN) has made a fresh injection of $210 million into the inter-bank foreign exchange market in its determination to boost supply in that sector of the market. Figures released by the Bank on Tuesday, February...

January 30, 2019 No Responses

CBN Injects $210m Into Inter-Bank Market

In continuation of its periodic intervention in the foreign exchange market, the Central Bank of Nigeria (CBN) on Tuesday, January 29, 2019, injected another sum of $210 million into the inter-bank foreign exchange market. Figures released by the CBN on...

January 28, 2019 No Responses

Edo, CBN Partner On Development Of 100,000-Hectare Plantation

The Edo State Governor, Mr. Godwin Obaseki, has said that the state government is in discussions with the Central Bank of Nigeria (CBN), to develop a programme that will see investors taking up 100,000 hectares of agricultural land in the...

January 21, 2019 No Responses

CBN Lauds $9b Dangote Refinery, Reiterates support For Indigenous Firms

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele at the weekend in Lagos commended the proposed Dangote Refinery. The CBN Governor also reiterated the apex bank readiness to facilitate access to foreign exchange by manufacturers. Emefiele made...

January 14, 2019 No Responses

Group Tasks CBN, MTN On $8.13b Out-Of-Court Settlement

A Non-Governmental Organisation (NGO), Human and Environmental Development Agenda Resource Centre (HEDA) has challenged the Central Bank of Nigeria (CBN) and telecommunication giant, MTN Nigeria to make public more details on the $8.13 billion out-of-cou...