President Muhammadu Buhari has approved the appointment of Edward Adamu as the deputy governor of the Central Bank of Nigeria, CBN. Adamu’s appointment was announced in a statement by Femi Adesina, spokesman of the president. Adesina also said the appointment is subject to the confirmation of the senate. “In accordance with the provisions of Section […]
Continue Reading
The Central Bank of Nigeria (CBN) has injected another $262.5m into the foreign exchange market. Nigeria’s apex bank announced this on Friday. The intervention is targeted at the agricultural, airlines, petroleum products and raw materials and machinery sectors. Isaac Okorafor, the Acting Director in charge of Corporate Communications of the CBN, said the fund will […]
Continue Reading
Skye Business School has been awarded full accreditation status as a full-fledged banking/finance, business and continuous human capital training academy by the Chartered Institute of Bankers of Nigeria (CIBN). The accreditation which is in collaboration with the Central Bank of Nigeria (CBN) is sequel to the conclusion of a rigorous vetting and accreditation process. CIBN […]
Continue Reading
The Nigerian National Petroleum Corporation (NNPC) has denied the report that it kept funds in some commercial banks, rather than remitting into the treasury single accounts (TSA) as directed by the federal government. In a statement by Ndu Ughamadu, its group general manager, group public affairs division, the corporation described the allegation as not only […]
Continue Reading
President Muhammadu Buhari has presented Mrs Aishah Ahmad to the Senate for confirmation as Deputy Governor of the Central Bank of Nigeria (CBN). The President’s Special Adviser on Media and Publicity, Mr Femi Adesina, announced this in a statement on Thursday in Abuja. According to the presidential aide, Ahmad is to replace a former Deputy […]
Continue Reading
The president of the Association of Bureaux De Change (BDC) Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, on Wednesday defended the CBN’s retention of the benchmark interest rate and other monetary policy parameters. The CBN’s Monetary Policy Committee (MPC) met on Tuesday and retained the Benchmark interest rates at 14 per cent, alongside other monetary […]
Continue Reading
The Central Bank of Nigeria, CBN, has again intervened in the Inter-Bank Foreign Exchange (Forex) Market to the tune of 250 million dollars. The Acting Director, Corporate Communications Department, CBN, Isaac Okorafor, said the apex bank also sold $100 million and uplifted the Small and Medium Enterprises and invisible segments, with $85 million and $65 […]
Continue Reading
The Central Bank of Nigeria (CBN) has intervened in inter-bank Foreign Exchange Market with the supply of $195 million as an effort to stabilise the market. According to the acting Director, Corporate Communications of the apex bank, Mr Isaac Okorafor, $100 million was offered through the wholesale segment. The Small and Medium Enterprises (SMEs) segment […]
Continue Reading
The Central Bank of Nigeria (CBN) has injected $142.5 million into the inter-bank foreign exchange, days after intervening in the retail segment of the market with $254.3 million. The spokesperson of the apex bank, Mr Isaac Okorafor, in a statement, said on Monday that CBN would continue to carry out its regular mediation in the […]
Continue Reading
Financial sector regulator, Central Bank of Nigeria, CBN on Friday said its intervention in the ongoing debt crisis between Etisalat Nigeria and a consortium of banks was to save the Nigerian financial system. CBN spokesperson, Isaac Okoroafor, said the two regulatory authorities intervened primarily to prevent job losses and asset stripping. “Although it should ordinarily […]
Continue Reading