Monday , 20 November 2017

Tag Archives: central bank of nigeria

CBN injects $210m into forex

The Central bank of Nigeria has injected  $210m into the inter-bank Foreign Exchange Market. The CBN Acting Director, Corporate Communications, Mr Isaac Okorafor in a statement issued on Monday in Abuja, said the interventions were in the Wholesale, Small and Medium Enterprises and invisibles windows. He said the bank offered …

Read More »

CBN orders banks to submit account details of accounts without BVN

Commercial Banks in Nigeria received a letter from the Central Bank of Nigeria , asking them to submit list of customers and bank accounts without bank verification number. The letter came after a Federal High Court in Abuja ordered the CBN and 19 banks to freeze accounts without the BVN …

Read More »

BVN : Nigerians might forfeit 46 million bank accounts

The Senior Special Assistant to President Muhammadu Buhari on Prosecution, Mr Okoi Obono-Obla, who was live on Channels Television’s Sunday Politics, believes the Federal Government will be justified should Nigerians who are yet to link their accounts with BVN. This came after an order of interim forfeiture made by Justice …

Read More »

Bank accounts without BVN officially seized by CBN

The Federal High Court in Abuja has ordered the Central Bank of Nigeria and the 19 commercial banks in the country to disclose all accounts in their custody and the balances in such accounts. The court ordered the banks to disclose the details of all such accounts, their owners and …

Read More »

Central Bank recovers N140bn from banks under probe

The Senate Joint Committee on Customs, Excise and Tariffs; and Marine Transport on Wednesday claimed that it had recovered over N140bn from banks and companies following its probe into the alleged loss of N30tn in Nigeria’s import and export value chain. It said the recovered funds had been deposited with …

Read More »

CBN to offers 100 million dollars to BDCs

The Central Bank of Nigeria (CBN) has decided to inject another 100 million dollars to authorised dealers as its intervention to stabilise the foreign exchange market on Thursday. This was disclosed in  a statement by the Acting Director of the Corporate Communications Department of CBN. Mr Isaac Okorafor on Thursday. …

Read More »

FITCH SINGLES OUT ZENITH BANK

The stress test conducted by the Central Bank of Nigeria (CBN) has confirmed the resilience of large banks to withstand stresses over smaller banks, even as it singled out Zenith Bank Plc for its strength in comparison to others Citing a Financial Stability Report for December 2016, published recently, rating …

Read More »

CBN orders commercial banks to pay cash over-the-counter to desiring foreign exchange customers.

The Central Bank of Nigeria has not relented on it’s efforts to restore the value of the Naira against foreign currencies. In it’s latest directive the apex bank has ordered on all banks to pay cash over-the-counter to desiring foreign exchange customers. The directive, according to the Acting Director, Corporate …

Read More »

MMM Is Fraudulent, Don’t Invest In It, CBN Warns Nigerians

MMM

The Mavrodi Mondial Moneybox popularly called MMM, is a fraudulent scheme and should not be patronized by Nigerians, the Central Bank of Nigeria (CBN) has again warned. MMM, which prides itself as a community of ordinary people selflessly helping each other, is fast gaining traction among Nigerians especially with its …

Read More »

FG Demands $406.75m From Shell, Subsidiary Over Alleged Crude Oil Theft

The Federal Government is demanding $406.75 million from Shell Petroleum Development Company of Nigeria Limited and its subsidiary, Shell Western Supply & Trading Limited, over alleged crude oil theft. The amount, according to court documents presented in Lagos on Tuesday, represents the shortfall of the money the multinational oil firm paid …

Read More »

N8 Billion Currency Scam: Suspects Seek Plea Bargain

Justice Joyce Abdulmaleek of the Federal High Court sitting in Ibadan on Monday adjourned till Wednesday the trial of four accused persons in the case of alleged N8 billion currency scam. Ms. Abdulmaleek adjourned the trial based on the prayers by the defence counsel following the plea bargaining arrangement entered …

Read More »

MMM, A Ticking Time Bomb!

MMM

MMM Nigeria which boasts on its website of over 500,000 members is a time bomb about to explode. All of the public discussions even on social media about the high rise of the Ponzi scheme in Nigeria are focused on the impact it has on enriching their lives and filling …

Read More »

Unpaid Stipends: Ex-Militants Disown “Wicked” Plan To Attack CBN Branches

Former Niger Delta militants, under the umbrella of the Second Phase Presidential Amnesty Programme yesterday, denounced reports that they threatened to attack branches of the Central Bank of Nigeria (CBN) over unpaid stipends. This is just as they pleaded with the Federal Government to pay their three months’ arrears of …

Read More »

Recession: We’ll Employ Every Means To Bounce Back – CBN

The Central Bank of Nigeria (CBN) has vowed to employ every indispensable means whether conventional or otherwise, to ensure that the Nigerian economy flourishes. This is just as the apex bank stressed that its policies are appropriate to set the economy on the right part of development in the medium …

Read More »

CBN Asks Banks to Give 60% of Their Forex to Manufacturing Firms

The Central Bank of Nigeria (CBN) has asked commercial lenders to allocate 60 percent of their foreign exchange purchases to manufacturers, in a bid to boost their ability to pay for imports and boost the economy. Fall in oil revenues have caused widespread dollar shortages. This has hit manufacturers’ ability …

Read More »

CBN Lifts UBA Forex Market Suspension

The Central Bank of Nigeria (CBN) has lifted the foreign exchange market suspension it formerly imposed on United Bank for Africa (UBA). The suspension was lifted on Thursday, two days after CBN barred nine banks from the Forex market. Amongst the nine banks was UBA. The banks were barred for failing to remit the sum …

Read More »

9 Banks Barred By CBN From Forex Market

On Tuesday, the Central Bank of Nigeria (CBN) barred nine Deposit Money Banks (DMBs) from the nation’s foreign exchange market for failing to remit the sum of $2.334bn belonging to the Nigerian National Petroleum Corporation to the Treasury Single Account (TSA). President Muhammad Buhari had last September ordered all the …

Read More »

Godwin Emefiele Elected President Of African Central Banks

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has been elected as the President of the Association of African Central Banks (AACB). Emefiele, who was elected at the 39th Ordinary meeting of the Assembly of Governors of the AACB, will be president of the association for …

Read More »

CBN Didn’t Give Muslim Pilgrims Forex At Subsidised Rate – Emefiele

The Central Bank of Nigeria (CBN) on Tuesday waded into the controversy surrounding foreign exchange for Muslim pilgrims, saying it did not provide forex at a subsidized rate for the 2016 Hajj. The CBN Governor, Mr. Godwin Emefiele, made the clarification in a statement yesterday. Mr. Emefiele explained that the …

Read More »

Afenifere Group To FG: Subsidizing Pilgrimage Dangerous For Nigeria’s Economy

A Yoruba socio-political organization, Afenifere Renewal Group, ARG, has condemned the federal government’s decision to subsidize pilgrimage. The ARG’s Publicity Secretary, Kunle Famoriyo, in a statement issued at the weekend, said the policy sent wrong signals about the touted autonomy of the Central Bank of Nigeria. “It is tantamount to …

Read More »

Notice: Undefined index: enable_manual_switch_in_footer in /home2/informng/public_html/wp-content/plugins/mobile-smart/mobile-smart.php on line 946