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Monetary Policy Committee

CBN and the $2.6bn or $26bn diaspora remittances

In the World Bank’s 2018 report, titled, “Nigerians Living abroad sent $22bn home in 2017”, the Bank noted that the top recipients of the Diaspora remittances in the world were India with $69bn, Chile ($64bn), Philippines $33bn, Mexico $31bn, Nigeria $22bn and Egypt $20bn
The minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this on Tuesday during her maiden meeting with top officials of the two merged ministries at the headquarters of Budget and National Planning in Abuja.

Nigeria’s debt hits N25.7 trillion

The nation’s total public debt rose by N3.32trn in one year to N25.7trn as at the end of June 2019, the Debt Management Office said on Tuesday.
Zimbabwe Dollar

Zimbabwe to introduce new currency in November – official

The Reserve Bank of Zimbabwe is to introduce a new currency in November, a member of the bank’s Monetary Policy Committee, said on Thursday.

Central bank mandates commercial banks to give out more loans

A new directive by the Central Bank mandates Nigerian banks to give N65 as loans for every N100 they have as deposits.

Central bank clarifies cashless policy transaction charges

The Central Bank of Nigeria says the transaction charges on deposit and withdrawal in furtherance of implementation of its cashless policy is on the amount in excess of the set limits. The Central Bank of Nigeria says the transaction charges on deposit and withdrawal in furtherance of implementation of its cashless policy is on the amount in excess of the set limits.

MPR retention: Experts predict increase in foreign investors’ participation

Financial experts on Monday expressed optimism that retention of the interest rate by the Monetary Policy Committee (MPC) would likely trigger foreign investors’ participation in emerging Nigerian markets.

Expert: Retention of MPR at 13.5 percent in order

Mr Tope Fasua, an economic expert, said the retention of Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) was in order.

Central bank apologises for cashless policy inconveniences

The Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the reintroduced cashless policy will cause.

CBN: MPC meeting to hold earlier than scheduled

The Central Bank of Nigeria (CBN) has rescheduled the Monetary Policy Committee (MPC) meeting for the month of September.

CBN reschedules MPC meeting to Thursday

The Central Bank of Nigeria has rescheduled it’s Monetary Policy Committee meeting to Thursday and Friday this week.

Miyetti Allah condemns restriction on Forex for milk importation

The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), in a statement, condemned the CBN’s planned policy restricting allocation of foreign exchange (FOREX) for milk importation into Nigeria.

Central bank chief defends planned restriction of forex for milk importation

The Central Bank of Nigeria (CBN) on Tuesday confirmed that its planned policy to restrict allocation of foreign exchange (FOREX) for milk importation and other diary products into the country will soon become effective.

Federal government to put restrictions on milk importation

The Central Bank Governor, Mr Godwin Emefiele, who disclosed this while addressing newsmen after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday said the Federal Government would soon put restrictions on the importation of milk to the country.

Central bank pegs remunerable bank deposits at N2 billion

The Central Bank of Nigeria has pegged bank deposit placement through its Standing Deposit Facility (SDF) at N2billion, saying that any amount in excess of that will not attract interest payment.

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 chief pledges to bring inflation to single digit within five years

The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, says he will bring inflation to single digit within the next five years.

Central bank holds interest rate at 13.5% to ‘understand growth trend’

The monetary policy committee of the Central Bank of Nigeria (CBN) says it has agreed to keep the monetary policy rate, which measures interest rate at 13.5%.
Central Bank of Nigeria - CBN

Central bank to limit banks’ appetite for govt securities

The Central Bank of Nigeria, CBN, yesterday, said it would soon announce measures to limit the excessive appetite of banks for government securities.

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