Tag Archives: Godwin Emefiele

THE Department of State Services (DSS)and the Office of the Attorney-General of the Federation (OAGF) have explained their opposition to the bail application filed by the suspended Central Bank of Nigeria (CBN) Godwin Emefiele. Their reasons were contained in the counter-affidavits they filed before the Federal Capital Territory (FCT) High …

President Bola Ahmed Tinubu has suspended the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, from office with immediate effect. This is contained in a statement issued on Friday night by Willie Bassey, Director in the office of the Secretary to the Government of the Federation. The statement …

The governor of Central Bank of Nigeria, CBN, Godwin Emefiele, says arrangement is being made to enable the Dangote Refinery sell refined crude to Nigeria in naira when it commences production. Mr Emefiele also disclosed that the first shipment of Urea from the Dangote Fertiliser Plant would begin in March …

The Central Bank of Nigeria has revoked the operating licences of 42 microfinance banks in the country.  The Nigeria Deposit Insurance Corporation disclosed this on Friday in an announcement on its website titled ‘Notice of closure of 42 microfinance banks’. It stated, “This is to inform the depositors, creditors, shareholders …

The Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed, has advised Nigerian banks and other financial institutions to explore Africa’s market expansion enabled by the AfCFTA to capture trade flows and investment through superior customer value proposition. Stressing the potentials of Nigeria’s market, Ahmed said: “With more …

The International Monetary Fund and World Bank have intensified calls on Nigeria to speed up currency reforms without which Africa’s largest economy may fail to achieve the growth it needs to prevent millions more from falling into penury. A unified and flexible exchange rate will ease external imbalances and bolster activity in the OPEC …

The Central Bank of Nigeria’s Monetary Policy Committee has retained the Monetary Policy Rate at 11.5 per cent, the CBN Governor, Godwin Emefiele, announced Tuesday after the committee’s two-day meeting in Abuja. It also retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent …

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 …

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 …

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 …