Finance

Central bank mulls reducing CRR for SME-friendly banks

As part of efforts to encourage commercial banks to lend more to operators of micro, small and medium scale enterprises (MSMEs), the Central Bank of Nigeria (CBN) is considering lowering the cash reserve requirement (CRR) for SME-focused banks.

Central bank’ll use BVN to blacklist loan defaulters – Godwin Emefiele

The Central Bank of Nigeria under the auspices of the Bankers’ Committee has concluded plans to use the Bank Verification Number of customers to blacklist loan defaulters from accessing further loans in the nation’s banking system.

Federal govt spends N117 billion on debt servicing in 9 months – central bank

The Central Bank of Nigeria (CBN) has disclosed that an estimated N118 billion ($384.98 million at N306.4/ Dollar) has been spent by the Federal Government on debt services/payments between January and September 2017.

Central bank reviews stringent criteria for accessing MSMEs funds, cuts rate to 5 per...

The Central Bank of Nigeria has expressed concern that “not a penny” of the N26 billion Agri-Business, Small and Medium Enterprises Investment Scheme (AGSMEIS) has been disbursed nearly one year after its establishment, even as it expects the fund to hit N60 billion by the end of the year.

Central bank revamps N500 billion export stimulation und

In its bid to diversify the country’s economy away from oil, in line with the Federal Government’s economic plan, the Central Bank of Nigeria (CBN) has announced a revamp of the N500 billion Export Stimulation Fund for the promotion of non-oil exports in the country using the Anchor Borrowers’ Programme model.

Federal govt plans N110 billion bond auction this month

The Federal Government, through the Debt Management Office, is scheduled to hold the last bond auction for the year on December 13, 2017.

Governor Ambode tells central bank to reduce lending rate on MSME fund

Lagos State Governor, Mr. Akinwunmi Ambode, yesterday, said it was time for the government to review policies that inhibit growth, as well as come up with an efficient low-cost financial system that will work for all Nigerian.

Central bank to continue supporting financial service penetration – Godwin Emefiele

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Saturday said that the bank would continue to support measures that would deepen penetration of financial services in the country.

Mauritius needs to clarify monetary policy – IMF

The International Monetary Fund (IMF) on Saturday says Mauritius needs to clarify its monetary policy to increase coherence.

Abusers of naira notes risk six months in jail – central bank

The Central Bank of Nigeria (CBN) yesterday cautioned Nigerians against abusing the naira notes, warning that anyone caught would risk six months imprisonment or pay a fine of N50,000.

Central bank lists gains of forex ban on 41 items

The Central Bank of Nigeria (CBN) has assessed its decision to restrict foreign exchange access to 41 hitherto imported items, describing it as one that has had a positive impact on the economy.

Visa introduces next level innovation in payments through sensory branding

The global leader in payments Visa, today has announced a range of advanced sensory elements, to support the Visa brand when customers make transactions through connected, payment-enabled devices.

Bitcoin plunges 15% in wild trading

Bitcoin plunged as much as 15 percent to below $14,500 on profit-taking Friday, capping a roller-coaster week that saw the currency hit a series of record highs and underlining concerns about its volatility.

Naira appreciates to N360.31 at investor, exporter window

The naira, yesterday, appreciated to N360.31 per dollar in the Investor and Exporter (I&E) window, while the volume of dollars traded dropped by 7 per cent.

Bitcoin chalks up new record as it charges past $14,000

Bitcoin ploughed past $14,000 to a fresh record on Thursday as investors continued to pile in, triggering a warning the cryptocurrency was "like a charging train with no brakes" that would inevitably slip back.

Nigeria’s external reserves hit $38.2 billion – central bank

Godwin Emefiele, Central Bank of Nigeria, CBN, governor, yesterday, disclosed that the nation’s external reserves have risen to $38.2 billion, the highest in 39 months.

Central bank injects $210m to boost forex liquidity

The Central Bank of Nigeria (CBN) has again intervened in the foreign exchange market as the external reserves of the country hit a three year high at $38.2 billion.

Foreign reserves increases to $34.8 billion in November – central bank

The Central Bank of Nigeria (CBN) has said nation’s foreign exchange reserves added at $991 million in November to close at $34.8 billion as of November 29, 2017.

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