Tag Archives: CBN

The Federal High Court, sitting in Lagos, will Tuesday (today) before Justice Mohammed Liman hold hearing in the suit seeking to remove the Ajami (Arabic) inscriptions on naira notes. The Central Bank of Nigeria (CBN) yesterday opposed a suit seeking to remove the Ajami (Arabic) inscriptions on naira notes, saying …

The Central Bank of Nigeria, CBN, has released guidelines for implementation of the proposed N75 billion Nigeria Youth Investment Fund, NYIF. CBN, in a statement by its Development Finance Department, stated that the fund was a built-in strategy to effectively respond to the challenge of youth employment in Nigeria. The …

Sterling Bank Plc has obtained Central Bank of Nigeria’s approval in principle to restructure as a holding company. The bank’s Chief Executive Officer, Mr Abubakar Suleiman, disclosed this in a statement posted on the Nigerian Stock Exchange website. Suleiman said the bank’s desire to operate as a holding company was …

The Manufacturing PMI in the month of August stood at 48.5 index points, indicating contraction in the manufacturing sector for the fourth consecutive months. According to the Central Bank of Nigeria (CBN) data, of the 14 subsectors surveyed, 6 subsectors reported expansion (above 50% threshold) in the review month in …

The Central Bank of Nigeria (CBN) says it has commenced the sales of foreign exchange to the Bureau De Change (BDC) operators in the country. The CBN made this known in a circular signed by Dr Ozoemena Nnaji, Director Trade and Exchange Department, and addressed to authorised dealers and BDC …

Banks’ non-performing loans stood at N1.2tn as of the end of June according to figures obtained from the Central Bank of Nigeria. This amounted to about 6.4 per cent of the gross credit of the banks to the economy which stood at N18.9tn as of the period under review. The …

The Central Bank of Nigeria (CBN) on Tuesday disclosed that total gross credit to the economy grew by N3.3 trillion or 21.5 per cent to N18.9 trillion at the end of June 2020, from N15.56 trillion recorded previous month. This came as the Monetary Policy Committee (MPC) of the CBN …

A former Governor of the Central Bank of Nigeria, Professor Chukwuma Charles Soludo, said as a multi-ethnic, multi religious country, Nigeria is still in search of unifying common purpose and destiny. Prof. Soludo made the assertion on Sunday during his keynote speech at a Webinar titled “Talk Nigeria: The Values …

The Central Bank of Nigeria Tuesday announced a non-interest credit facility for Nigerian youth with objective of engaging a minimum of 370,000 youths in agricultural production across the country over the next three years. According the CBN, the Participating Finance Institutions (PFIs) will act as its agents in disbursing the …

The Central Bank of Nigeria (CBN) on Monday suspended its plan to give foreign exchange support to the importers of maize in the country. The CBN, in its circular referenced TED/FEM/FPC/GEN/01/004 signed by the Director of Trade and Exchange Department, Dr. O.S Nnaji, sighted economic constraints created by coronavirus pandemic …