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The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday weighed in on the raging controversy over whether or not the apex bank printed money to augment funds from the Federation Account Allocation Committee (FAAC) distributed to states and the Federal Capital Territory (FCT) in March.
The stock market swung back into positive territory yesterday following the retention of the Monetary Policy Rate, MPR, at 11.5 per cent by the Central Bank of Nigeria, CBN, in its second Monetary Policy Committee, MPC, meeting of the year.
The CBN Governor, Godwin Emefiele, made this known while presenting the communiqué on the Monetary Policy Committee (MPC) meeting held on Monday and Tuesday in Abuja.
The Central Bank of Nigeria, CBN, staff report has indicated that the banking industry ended 2020 in a mixed performance. But members of the apex bank’s Monetary Policy Committee, MPC, its highest policy body, have indicated that the industry remained resilient and sound despite some negative impacts of the COVID-19 pandemic during the year.
The Central Bank of Nigeria (CBN) has thrown its weight behind the federal government’s decision to sell its least valued assets and use funds from the sale to execute infrastructural projects in the 2021 budget.
Activity chart of the Nigerian Stock Exchange (NSE) for the last trading session of the month, Friday January 29, showed Zenith Bank atop Most-Traded stocks with a total value of N1.2 trillion and transaction volume of 44,956,083 shares.
The Central Bank of Nigeria says Nigeria’s Foreign Exchange Reserves rose from $34.94 billion in November 2020 to $36.23 billion as at January 21.
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, said the ongoing reforms to increase diaspora remittances into the country will support the economy and help reduce the impact of the COVID-19 pandemic.
The Central Bank of Nigeria, CBN, yesterday warned the Federal Government (FG) against imposing another total lockdown of the country, saying such a move would be catastrophic to Nigerians and the economy.
The apex bank also retained the Monetary Policy Rate (MPR) at 11.5 per cent, the Cash Reserve Ratio (CRR) at 27.5 per cent, the Liquidity Ratio (LR) at 30 per cent and the asymmetric corridor of +100/-700 basis points around the MPR.
As Central Bank of Nigeria (CBN) opens its Monetary Policy Committee (MPC) meeting on Monday, a financial expert, Mr Okechukwu Unegbu, has advised the committee to address rising inflationary rates.
The Central Bank of Nigeria (CBN) has revealed that the aggregate domestic credit in commercial banks grew by 7.61 percent in October 2020, compared with 7.35 percent in the previous month.
Financial analysts are speaking in discordant tones over the 3.5 percent decline in Nigerian banks’ non-performing loans (NPLs) as of the third quarter of 2020 as shown by latest figures from the National Bureau of Statistics (NBS).
Nigerian banks’ non-performing loans as of the third quarter of 2020 dropped to N1.17 trillion, latest figures from the National Bureau of Statistics have shown.
A Swiss prosecutor said on Thursday that there were “indications” Fifa president Gianni Infantino was guilty of “unfair management” for using a private jet, funded by the body, to fly between Suriname and Switzerland in 2017.
A report by AZA Finance, an Africa-focused provider of currency trading solutions has attributed the pressure facing the naira on the parallel market to diversion of export proceeds away from the approved channels by a lot companies in the country.
India’s first major elections during the coronavirus pandemic began on Wednesday in the eastern state of Bihar, with social distancing and temperature checks outside election booths.
Michel Platini and Sepp Blatter each face interrogation from the Swiss public prosecutor this week as part of the proceedings opened in 2015 over a 2011 payment of 2 million Swiss francs.
Dr Titus Okunrounmu, a former Director, Budgetary Department of Central Bank of Nigeria (CBN), has commended the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) for retaining the Monetary Policy Rate (MPR) at 12.5 per cent.
The Central Bank of Nigeria on Monday retained the country’s benchmark interest rate or Monetary Policy Rate at 12.5 per cent.
In a statement on Wednesday, the Washington-based financial institution said remittances to SSA declined by an estimated 12.5 percent in 2020 to $42 billion. The decline was almost entirely due to a 27.7 percent decline in remittance flows to Nigeria,
Human rights lawyer, Femi Falana (SAN), has urged southern governors in the country to back their ban on open grazing with a legal instrument to enable the prosecution of offenders.
The Governor of Edo State, Godwin Obaseki, has called for unity in Nigeria in order for the country to overcome its many challenges.
At least two people have been killed and dozens wounded as Sudanese security forces cracked down on a rally that demanded justice for protesters killed during anti-government demonstrations two years ago, according to the army.
Gunmen suspected to be kidnappers have created tension in Ikaram Akoko, in Akoko North West council area of Ondo State, following the abduction of two residents of the community including a graduate, identified as Gbodi.
“Dear fellow Nigerians, contrary to reports circulating in the media, I remain committed to serving my country. It is always an honour to wear the green and white of Nigeria and it is my dream to continue to do so,” he wrote on Instagram.
This development was disclosed by the executive secretary, National Agricultural Land Development Authority (NALDA), Paul Ikonne, when he led the management of the Authority to the office of the state governor in Abeokuta on Wednesday.
The Nigeria Centre for Disease Control (NCDC) confirmed 30 new cases in its update for May 8, 2021.
Former Head of State, Retired Gen. Abdulsalami Abubakar, on Monday in Minna denied having any link with bandits or terrorist groups in Niger State.
A think-tank of Igbo intellectuals and professionals, Nzuko Umunna, on Tuesday, wrote an open letter to the Chief of Army Staff, Lt. Gen. Ibrahim Attahiru, over the alleged shoot-on-sight order against Igbo youths to the soldiers in the South-East and South-South.