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Central Bank of Nigeria - CBN

Central bank orders private, public firms to pay salaries, taxes, pensions electronically

The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to dishonour instructions on the payment of salaries, pensions, and taxes of public and private companies that are not transmitted on approved electronic payment and collection platforms.

CAFEi urges CBN to extend deadline for mutilated notes return

Otunba ‘Debola Osibogun, CAFEi President, said in Lagos on Sunday that extension of the deadline would give room for more people to key into the initiative.

Central bank alerts on fraudulent loan schemes

The Central Bank of Nigeria (CBN) on Monday warned loan seekers and owners of small-scale businesses to beware of fraudulent loan offers purportedly by the Federal Government.

Central bank warns against fraudulent loan offers

The Central Bank of Nigeria (CBN) has warned Nigerians to beware of fraudulent messages in the social media circles requesting unsuspecting loan seekers and owners of small-scale businesses to apply for loans provided by the Federal Government through an e-mail address ([email protected]) purportedly being handled by the Central Bank of Nigeria (CBN).

NDIC: Banks’ profit up by 106% to N310 billion in 2018

The banking industry recorded 106 per cent increase in profitability to N310 billion in 2018 from N150 billion in 2017.

Central bank intensifies pressure on banks to lend to the economy

In a bid to further stimulate lending to the economy, the Central Bank of Nigeria, CBN, yesterday, said bank deposit placement through its Standing Deposit Facility, SDF, in excess of N2 billion will not attract interest payment.

Central bank to withdraw N7.9 trillion dirty, mutilated notes

A large proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit for Automated Teller Machines (ATMs) and over-the-counter payments, the Central Bank of Nigeria (CBN) has said.

Godwin Emefiele: MFBs advanced N482.89 billion credit to MSMEs in 2018

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday disclosed that total aggregate loans granted by Microfinance Banks (MFBs) to micro small and medium enterprises (MSMEs) in the country stood at N482.896 billion as at December 2018.

Central bank to issue loans at five percent to SMEs through NIRSAL microfinance bank

The Central Bank of Nigeria (CBN), says it will issue loans at five per cent and with no collateral to Small and Medium Enterprises (SMEs) through the NIRSAL Micro Finance Bank (MFB).

NDIC becomes full member of Islamic financial board

The Council of the Islamic Financial Services Board (IFSB) with its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board.

Central bank: Proposed increase in minimum wage will stimulate growth

The Central Bank of Nigeria (CBN) on Thursday said the proposed increase in minimum wage for Nigerian workers would stimulate output growth in the economy.

N800 billion subsidy debt: Banks take over assets of oil marketers

For their inability to service their huge debts, Deposit Money Banks (DMBs) have taken over the assets of some defaulting oil marketers.

Report: NDIC pays N1.45bn to 34 closed DMBs in 2017

The Nigeria Deposit Insurance Corporation (NDIC), said it paid N1.45 billion to 16, 324 depositors of 34 closed Deposit Money Banks (DMBs) in 2017.
Nigeria's acting finance minister Zainab Ahmed addressing a press conference in Abuja....Twitter-ZShamsuna

Finance minister seeks probe of bank chiefs

Nigeria’s Minister of Finance, Zainab Ahmed, has expressed serious concerns over the rising incidence of non-performing loans (NPLs) in deposit money banks (DMBs) in the country.
Acting Finance Minister of Finance Zainab Ahmed

Zainab Ahmed wants investigation, prosecution of bank chiefs over non-performing loans

The Supervising Minister of Finance, Zainab Ahmed, on Friday expressed serious concerns over the rising incidence of non-performing loans (NPLs) in deposit money banks (DMBs) in the country.

NDIC pays N11.50 billion to depositors of failed banks, recovers N28 billion debt

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, Tuesday said a total of N11.50 billion had been paid to depositors, creditors, shareholders and other stakeholders of closed financial institutions as at December 31, 2017.
FILE PHOTO- An MTN starter kit pack on display at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS-Afolabi Sotunde-File Photo

Central bank promises ‘equitable resolution’ over sanctions imposed on MTN, banks

The Central Bank of Nigeria on Wednesday said it has commenced a review of the information provided by telecoms giant, MTN, and four banks sanctioned recently over alleged illegal repatriation of funds.

Central bank unveils terms for long-term credit to agric, manufacturing sectors

The Central Bank of Nigeria (CBN) on Thursday unveiled terms for long-term credits to key sectors of the economy to boost real sector growth.

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Speaker Gbajabiamila donates drugs worth N60 million to Borno IDPs

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Tribunal dismisses certificate forgery case against Kwara governor

The Governorship Election Petition Tribunal in Kwara State, on Friday, dismissed the Peoples Democratic Party’s (PDP) petition seeking the nullification of Governor AbdulRahman AbdulRazak’s election.
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NSE market capitalisation increases by N25 billlion

Trading closed positively on the Nigerian Stock Exchange (NSE) on Friday with the market capitalisation improving by N25 billion.

Lack of funds stalls weightlifters’ participation in world championship

The Nigeria Weightlifting Federation (NWF) says lack of funds has stalled its participation in the ongoing International Weightlifting Federation (IWF) World Championships in Pattaya, Thailand.
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Ernesto Valverde backs Lionel Messi to help Barcelona rectify poor away form

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