Finance

Central bank urges anchor borrowers’ beneficiaries in Cross River to pay back

The Central Bank of Nigeria (CBN) has called on beneficiaries of anchor borrowers’ programme for rice production in Cross River, to pay back their loans to enable other rice farmers in the state to benefit from the programme.

Nigeria to shut bank accounts of firms which import restricted goods

Nigeria’s central bank said on Friday it will close the bank accounts of firms caught smuggling into the country any goods for which access to foreign exchange has been restricted.
One of the five new banks licensed by the Central Bank of Nigeria (CBN), Titan Trust Bank Limited is set for entry into the Nigerian banking industry in a matter of weeks.

Titan Trust Bank sets for retail banking in Nigeria

One of the five new banks licensed by the Central Bank of Nigeria (CBN), Titan Trust Bank Limited is set for entry into the Nigerian banking industry in a matter of weeks.

Central bank: We have started clamping down on abuse of naira notes

The Central Bank of Nigeria on Saturday said that it had started clamping down on the abuse naira notes nationwide.

Central bank investigating accounts of palm oil smugglers

The Economic Intelligent Department of the Central Bank of Nigeria (CBN) has started investigating the accounts of those who are involved in smuggling or dumping palm oil into Nigeria.
R-L- President Muhammadu Buhari congratulatulating Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele on his reappointment as head of the apex bank, for a second tenure.

President Buhari asks central bank to blacklist firms smuggling 43 restricted items into the...

President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to blacklist any firm, its owner and top executives caught smuggling any of the 43 items ineligible for foreign exchange (forex).

Central bank commences disbursement of initial N30 billion loan for palm oil production

A concerted effort to end oil palm importation and locally grow the crop on a large-scale basis has kicked off, with the Central Bank of Nigeria (CBN) allocating an initial N30 billion for the project, which it said is already being disbursed to beneficiary farmers in identified states.

Central bank injects $210 million into forex market

The interbank segment of the Foreign Exchange Market has received a boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded last Tuesday.
PoS machines and poor connectivity

EFCC expresses worry over use of POS machines

The Economic and Financial Crimes Commission (EFCC) yesterday expressed concern over what it called the errant use of Point of Sale (POS) machines in the country.
Debt Management Office (DMO)

Nigeria’s second Sovereign Green Bond oversubscribed by 220 percent

A statement from the Debt Management Office (“DMO”) on Thursday said: “The proceeds of the Green Bond will be used to finance projects in the 2018 Appropriation Act, which will contribute to Nigeria’s commitments to the Paris Agreement on Climate Change.”

Central bank quashes talk of change to exchange rate policy

Nigeria’s central bank said it made no change to its naira policies, after a revision on its website led some analysts to speculate that it was ending a system of multiple exchange rates.

ECOWAS to have own currency by 2020 – member state

The Economic Community of West African States (ECOWAS), is in the “fast lane’’ of integration and planned to have its own currency in 2020, a member state has disclosed.
African Export-Import Bank (Afreximbank)

Afreximbank wins African Bank of the Year Award

The African Export-Import Bank (Afreximbank) on Wednesday night won the African Bank of the Year Award during the African Banker Awards 2019 ceremony held on the sidelines of the Annual Meetings of the African Development Bank.
President Cyril Ramaphosa at the Moses Mabhida Statdium in KwaZulu-Natal where he delivered the ANC's 2019 election manifesto on January 12 2019 . Twitter-@myanc

Rand slips over President Ramaphosa campaign donation probe

South Africa’s rand slipped on Thursday, as investors were unnerved by an investigation into a donation for President Cyril Ramaphosa’s 2017 campaign, leader of the governing African National Congress (ANC) party.
The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

AfDB: Nigeria is greatest contributor to wealth in West Africa

The African Development Bank (AfDB), says Nigeria is the greatest contributor to wealth creation in West Africa, contributing about 75 per cent of regional Gross Domestic Product (GDP).

Central bank moves towards unified naira exchange rate

The Central Bank of Nigeria signaled it will allow the naira to weaken past its official rate as it gradually unwinds its regime of multiple exchange rates, data on its website shows.

NIRSAL secures fresh N4.5 billion from three banks for farmers

The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending has secured a total of N4.5bn from four Deposit Money Banks for the cultivation of maize and soybeans in three states.

Union Bank shareholders endorse N54.4 billion share premium reduction

Shareholders of Union Bank of Nigeria (UBN) on Tuesday endorsed the proposed reduction of N54.4 billion from the bank’s share premium account aimed at restructuring its balance sheet for optimal performance.

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The Nigerian Army on Monday dismissed as ‘untrue’ social media reports indicating the closure of the Maiduguri-Monguno Road.

Nigerian Army kills 24 criminals, arrests 61

1 Division Nigerian Army on Wednesday said, it has killed 24 criminal elements during its operation Harbin Kunama III in Kano, Kaduna and Niger states within one month of operation.
Ahmed Idris Wase

Deputy speaker urges workers to make Nass conducive for lawmakers

The Deputy Speaker of the House of Representatives, Mr Idris Wase, has urged workers in the National Assembly to create an enabling working environment for members of the federal parliament.

Itse Sagay: Senators’ monthly pay is N15 million

The Chairman, Presidential Advisory Committee Against Corruption, Prof. Itse Sagay (SAN), has asked Senate President Ahmed Lawan to stop misleading Nigerians, adding that senators earn N15m monthly and not N750,000 as claimed by the Senate President.

UNODC: 10 million Nigerians use cannabis

The United Nations on Drug and Crime (UNODC) said cannabis is the most widely used drug globally with an estimated 188 million people having used the drug in the previous year.
Cameroon defender Augustine Ejangue has apologised to Toni Duggan after spitting on her in their 3-0 loss to England in Sunday's Round of 16 contest in Valenciennes.

WWC: Cameroon’s Augustine Ejangue regrets spitting on England’s Toni Duggan

Cameroon defender Augustine Ejangue has apologised to Toni Duggan after spitting on her in their 3-0 loss to England in Sunday's Round of 16 contest in Valenciennes.