Saudi Arabia Pledges Support For CBN, Nigeria’s Refinery

Saudi Arabia Pledges Support For CBN, Nigeria’s Refinery

The government of Saudi Arabia has promised to support the reforms being implemented by the Central Bank of Nigeria and also revamp Nigeria’s existing refineries through its state-owned oil company, Aramco during a bilateral engagement between President Tinubu and the...
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CBN Lifts Restriction On 43 Items

CBN Lifts Restriction On 43 Items

The Central Bank of Nigeria (CBN) has restated its commitment to boost liquidity in the Foreign Exchange (FX) market. CBN’s Director, Corporate Communications, Dr Isa AbdulMumin, made this known on Thursday in Marrakech. AbdulMumin also announced that Import...
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CBN: Cardoso Pledges Compliance

CBN: Cardoso Pledges Compliance

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has promised that his administration would inculcate a culture of compliance into the apex bank by adhering strictly to the CBN Act 2007. “I believe that the Central Bank under...
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Cardoso Assumes Duty As CBN Governor

Cardoso Assumes Duty As CBN Governor

Acting Central Bank of NIgeria (CBN) Governor Dr. Olayemi Cardoso, on Friday, September 22, 2023, formally assumed duty, in an acting capacity, as the Governor of the apex bank, pending his confirmation by the Senate. CBN in a statement, on...
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Tinubu Nominates Yemi Cardoso As CBN Governor

Tinubu Nominates Yemi Cardoso As CBN Governor

President Bola Tinubu has approved the nomination of Dr. Olayemi Cardoso as the new Governor of the Central Bank of Nigeria (CBN) for a term of five years at the first instance, pending his confirmation by the Senate.⁣A statement signed...
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CBN: New FX Policy Will Lead To Losses For Speculators

CBN: New FX Policy Will Lead To Losses For Speculators

The acting Governor of the Central Bank of Nigeria (CBN) Fola Shonubi, on Monday warned speculators of potential losses as they implement a new policy to stabilize the exchange rate regime.    Shonubi explained that the CBN has come up with...
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World Bank Implores Nigeria On Borrowing From CBN

World Bank Implores Nigeria On Borrowing From CBN

To reduce inflationary pressure on the economy, the World Bank Group has urged Nigeria to reduce government’s borrowing from the Central Bank. World Bank’s Lead Economist for Nigeria, Alex Sienaert, stated this on Thursday during an economic review session...
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CBN Explains Unification Of All Exchange Rate Windows

CBN Explains Unification Of All Exchange Rate Windows

In a bid to improve liquidity and stability, the Central Bank of Nigeria (CBN) has announced the unification of all segments of the forex market collapsing all windows into one. According to a press statement signed by the Director of...
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Profile Of Acting CBN Governor, Adebisi Shonubi

Profile Of Acting CBN Governor, Adebisi Shonubi

Following the suspension of Godwin Emefiele as Central Bank of Nigeria (CBN) Governor, President Bola Tinubu has appointed Mr. Folashodun Adebisi Shonubi as acting CBN Governor. Already, office of the Secretary to the Government of the Federation (SGF) &n...
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CBN Revokes licences Of 132 Microfinance Banks

CBN Revokes licences Of 132 Microfinance Banks

The Central Bank of Nigeria  (CBN), on Tuesday, revoked the operating licenses of 132 microfinance banks and those of four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government, which was....
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NPA, CBN Boost e-Call Up Scheme With NXP Requirements

NPA, CBN Boost e-Call Up Scheme With NXP Requirements

By Moses Ebosele. ebosele@hotmail.com — As part of measures to enhance Electronic Call Up system, the Nigerian Ports Authority (NPA) in collaboration with the Central Bank of Nigeria (CBN) is at the conclusive stage to integrate the CBN NXP requirements...
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CBN Disburses N12.65b Agric Intervention Fund

CBN Disburses N12.65b Agric Intervention Fund

The Central Bank of Nigeria (CBN) has disbursed N12.65 billion to the Anchor Borrowers Programme (ABP), its flagship agriculture intervention scheme from January till date. The CBN Governor, Mr Godwin Emefiele said this on Tuesday in Abuja, when he read t...
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Naira Loses Further To Dollar

Naira Loses Further To Dollar

Naira lost further to the dollar on Monday as it exchanged at N461.67 at the Investors’ and Exporters’ window. The rate represented a decrease of 0.04 per cent, compared to the N461.50 for which it exchanged to the dollar at...
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CBN To Banks: Comply With Supreme Court’s Judgement On Naira Notes

CBN To Banks: Comply With Supreme Court’s Judgement On Naira Notes

The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023. Isa Abdulmumin, CBN spokesperson in a statement said, “In compliance with the established tradition of obedience to court orders...
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