The Central Bank of Nigeria (CBN) is set to release new foreign exchange guidelines on Wednesday, June 15, 2016.The apex bank made the announcement via its Twitter account on Tuesday night. In the tweet, the Bank said: “CBN set to release new Guidelines on flexibility in the Foreign Exchange Market structure on Wednesday, June 15, […]
Continue ReadingThe senate has decided to summon Chris Ngige, minister of labour and employment, over his threat to withdraw the license of any bank that retrenches its staff. Raising the issue on the floor of the senate on Wednesday, Rafiu Ibrahim, chairman senate committee on banking, insurance and other financial institutions, hinted the decision of the […]
Continue ReadingYemi Osinbajo, Nigeria’s Vice President, on Saturday reiterated the position of the Federal Government on devaluation of the naira, stating that the currency would not be devalued. However, a former Central Bank of Nigeria (CBN) Governor, Joseph Sanusi, replied that delaying the devaluation was postponing the evil day. The positions were taken at a town […]
Continue ReadingWith the International Monetary Fund throwing its weight behind the Central Bank of Nigeria’s plan to shift policies supporting foreign exchange restrictions and devaluation, stakeholders raise alarm over the nation’s economic outlook. The Monetary Policy Committee of the CBN spread panic on Tuesday when it released a communique hinting at long periods of harsh economic […]
Continue ReadingToday is the day set for the Office of the Accountant General of the Federation (OAGF) and the Central Bank of Nigeria (CBN) to meet with SystemSpecs, banks and other stakeholders on the tariff for the transactions fees to be charged under the Treasury Singles Account (TSA). The meeting is aimed at reviewing the […]
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Following the directive from the Central Bank of Nigeria, banks in Nigeria have exposed huge debtors who are threatening to kill the sector. While nine banks published the names of the loans defaulters on Monday, four banks released the lists of their chronic debtors, owing a total of N143.81bn, on Tuesday. The four banks are […]
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