Nigeria’s Aviation Minister, Hadi Sirika, has urged President Muhammadu Buhari to direct the Central Bank of Nigeria to provide foreign exchange for the importation of Jet A1 fuel. The country’s aviation sector is facing a severe crisis, which almost led to the shutdown of operations. Airline operators increased air tickets by 100 percent to N50,000 […]
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The House of Representatives Nigeria, has called on the Central Bank of Nigeria (CBN) to put in place stringent measures to regulate and guide the Point of Sale (POS) business Operations in Nigeria. Moving the motion at the plenary on Thursday, Hon. Jimoh Olajide the POS is where customers make payments for products or services […]
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The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has announced the reinstatement of Sola Adeduntan, as the managing director and chief executive officer of First Bank of Nigeria Limited. He also ordered the immediate removal of all directors of FBN Limited and FBN Holdings Plc. Emefiele gave this directive during a media briefing […]
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The Central Bank of Nigeria (CBN) says it will henceforth decline payment of foreign exchange to form M applicants who do so through a company and agent, thereby eliminating third parties. According to a memo signed by O.S. Nnaji, the director of trade and exchange department at the bank, the CBN will now pay the […]
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The Central Bank of Nigeria (CBN) says it will slam a fine on commercial banks found culpable of breaching the law on counterfeit notes. While appearing on Channels Television’s Business Morning on Thursday, CBN’s Director of Currency Operations, Priscilla Ejeje, said the move is part of the apex bank’s reforms to ensure there are clean […]
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Polaris Bank has taken over the assets and liabilities of Skye Bank, the Central Bank of Nigeria said today. Consequently, the CBN has revoked the operating licence of Skye Bank Plc with immediate effect. Governor of Central Bank, Godwin Emefiele, disclosed this during a press briefing in Lagos on Friday. Emefiele said the decision was […]
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The Nigerian senate has confirmed Aisha Ahmad and Edward Lametek as deputy governors of the Central Bank of Nigeria (CBN), and Adeola Adenikinju, Aliyu Sanusi and Robert Asogwa as members of the monetary policy committee (MPC). The nominees were confirmed after the report of Rafiu Ibrahim, Chairman Senate Committee on Banking, Insurance and Other Financial […]
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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 […]
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The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria, have set a Jan. 16 deadline for receipt of binding offers from prospective bidders to acquire debt-laden telecom firm 9mobile. The telecoms company stated that Barclays Africa will review bids submitted before the deadline and make recommendations to 9mobile. Nigerian lenders picked Barclays Africa […]
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Abike Dabiri-Erewa, the Senior Special Assistant to President Muhammadu Buhari on Foreign Affairs and Diaspora, has appealed to the Central Bank of Nigeria, CBN and Attorney-General of the Federation, AGF to extend the time for Nigerians in Diaspora to obtain their Bank Verification Number (BVN). She also urged the them to put modalities and logistics […]
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