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A new directive by the Central Bank mandates Nigerian banks to give N65 as loans for every N100 they have as deposits.
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.
The Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the reintroduced cashless policy will cause.
Economic experts have lauded the Central Bank of Nigeria (CBN) on its plan to put forex restriction on imported dairy products to the country.
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.
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.
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.
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.
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.
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, says he will bring inflation to single digit within the next five years.
The Central Bank of Nigeria, CBN, yesterday, said it would soon announce measures to limit the excessive appetite of banks for government securities.
India’s central bank cut its policy interest rate by 25 basis points on Thursday in a widely expected move to boost the economy just a week before voting begins in an election that will decide whether Prime Minister Narendra Modi gets a second term or not.
Mr Wale Adegbite, a former Chairman, Manufacturers Association of Nigeria, Ogun Chapter, has urged the CBN to also reduce the Cash Reserve Ratio (CRR) to make the reduction of the Monetary Policy Rate (MPR) meaningful
Analysts have said the reduction of the Monetary Policy Rate, also known as benchmark interest rate, may dampen foreign investors in the nation’s stock market.
Two financial experts, Dr Samuel Nzekwe and Dr Titus Okurounmu, on Wednesday commended the Federal Government for reducing the benchmark lending rate from 14 per cent to 13.5 per cent.
President Muhammadu Buhari has threatened that henceforth the Federal Government might be forced to re-allocate projects elsewhere if any state government or communities create unnecessary impediments in the allocation of land or access to such lands for federal projects.
President Muhammadu Buhari on Saturday commended the Nigeria police for the discovery of what he described as “child-theft racket in Kano State” and “fake correctional centers in Kaduna and Katsina states”, saying he does not support criminality, abduction, child theft, and torture chambers.
Rafael Nadal married his partner of 14 years, Xisca Perello, at a castle in Mallorca on Saturday.
Governor Seyi Makinde of Oyo State says his administration would soon recruit more teachers to enhance quality education delivery in public schools across the state.
Ole Gunnar Solskjaer is reportedly prepared to resign as Manchester United manager if he cannot overturn the club’s recent poor form.
Ex-international Henry Nwosu has laud new Super Eagles sensation, Joe Aribo, and believed the young midfilder is an ideal replacement for former Mikel Obi.
Women For Equity And Fairness Organization Of Nigeria (WEFON), a Non-Governmental organization (NGO), has appealed to President Muhammadu Buhari to effect changes in his cabinet that will give women adequate representation in the governance of the country in line with National Gender Policy (NGP)
The Police Service Commission (PSC) has said members of the public should disregard a list of candidates scheduled for training and allegedly released by the Police in respect of the recruitment exercise into the Constable cadre of the Force.
Leaders and elders of Uzere community in Isoko South Local Government Area of Delta State have reportedly fled the community as angry youths unleash attacks on them.
The absence on Tuesday of three of the five students of the University of Lagos (UNILAG), facing trial for allegedly gang-raping a student of the institution has stalled their criminal trial.