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Isaac Okorafor

Central bank: Women are better borrowers

The Central Bank of Nigeria has urged more women to approach the banks for small and medium scale loans because they will repay such grants better than their male counterparts.

CBN: Nigeria records reduction in rice importation

The Central Bank of Nigeria (CBN), says the volume of rice importation into Nigeria (in metric tonnes) has declined drastically in 2018, judging by figures obtained from various official sources.

Central bank injects $337.16 million, 56.17 million CNY into forex market

The Central Bank of Nigeria (CBN) on Friday said it injected 337.16 million dollars in the retail Secondary Market Intervention Sales (SMIS) in its first intervention in the inter-bank foreign market for November.

Central bank injects fresh $210 million into forex market

The Central Bank of Nigeria CBN on Tuesday released a total of $210m to Authorized dealers in the wholesale segment of the inter-bank foreign exchange market to meet the requests of their customers.
FILE PHOTO- An MTN starter kit pack on display at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS-Afolabi Sotunde-File Photo

$10.1 billion infractions: Central bank asks court to dismiss MTN suit

The Central Bank of Nigeria (CBN) has asked a Lagos High Court to dismiss a suit brought before it by MTN Nigeria, seeking to stop the bank’s directive to it (MTN) to return to the coffers of the apex bank, $8.1billion alleged to have been improperly repatriated by the telecom firm and unpaid taxes of $2.0 billion levied against it.

CBN: Mobile court coming to jail currency hawkers, offenders

To curb the hawking and reckless abuse of the Naira, the Central Bank of Nigeria (CBN) is working with the law enforcement agencies, the judiciary and the Federal Ministry of Justice to set up mobile court that will try the Naira offenders on the spot.

Central bank boosts forex market with $210 million

The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market.

CBN: Nigeria’s foreign reserve still strong

Central Bank of Nigeria (CBN) has explained the recent reduction in the level of the country’s foreign reserves but has said that the fall does not have anything to do with political actors.

Godwin Emefiele: Central bank passionate about supporting small businesses

The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Wednesday said the apex bank was duly committed in positioning the economy on the path of growth by supporting small businesses in the country.
China's Yuan

Forex: Central bank provides $317.52m, CNY58.40m for agric, raw materials

The Central Bank of Nigeria (CBN), on Friday, provided 317.52 million dollars and 58.40 million Chinese Yuan (CNY) to customers seeking foreign exchange in the agricultural and raw material sector.
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 injects $210 million into foreign exchange market

The Central Bank of Nigeria (CBN) has sustained its intervention in the Inter-Bank Foreign Exchange Market by injecting 210 million dollars into the various segments of the market.

Forex: Central bank injects $303 million, CNY 46.58 million into Retail SMIS

The Central Bank of Nigeria (CBN), on Friday, injected the sum $303.91 million into the interbank retail Secondary Market Intervention Sales.

Central bank slams N5.87 billion fine on four banks over forex illegal deals

The Central Bank of Nigeria (CBN) on Wednesday imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged irregularities.

Central bank boosts forex market with $543 million, CNY63 million

The Central Bank of Nigeria (CBN) has boosted the operations of the inter-bank foreign exchange market with about $543.22 million and CNY63.21 million after two days interventions.

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.

Central bank prohibits trading, loan refinancing in new credit scheme

Also, it stressed that refinancing of existing loans is prohibited for funding under the programme, saying that any attempt to falsify information would also attract severe sanctions.

Foreign reserves drop to $46.37 billion, lowest in five months

The 30 days moving average of the Nigerian external reserves was down to a five – month low dropping to $46.37 billion, the lowest level since March this year.

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Sultan tasks Muslims on unity, peaceful co-existence

The Sultan of Sokoto, Muhammad Sa’ad Abubakar III, on Friday, warned against divisions among Islamic organisations and noted unity among Muslims in the country has paid off over the years.