cbn
Kenneth Okonkwo Berates Federal Government Over Forex Management
In a recent interview with Channels Television, Kenneth Okonkwo has criticized the Central Bank of Nigeria (CBN) and the Federal Government’s handling of the foreign exchange market.
Okonkwo asserted that effective forex management should lead to economic prosperity … Continue Reading
Breaking: Former CBN Governor Godwin Emefiele Granted Bail in Abuse of Office Trial
In a recent development at the Lagos State Special Offences Court in Ikeja, former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has been granted bail in the sum of N50 million by a high court sitting in Ikeja, … Continue Reading
Central Bank of Nigeria Bans Use of Foreign Currency Collaterals for Naira Loans
The Central Bank of Nigeria (CBN) has issued a directive to all banks in the country, urging them to discontinue the practice of using foreign currencies as collateral for naira loans.
This directive was communicated via a circular titled … Continue Reading
Central Bank of Nigeria(CBN) Increases Commercial Banks’ Capital Base to N500 Billion
The Central Bank of Nigeria (CBN) has announced new minimum capital requirements for banks.
The minimum capital base for commercial banks with international authorization has been set at N500 billion, while those with national authorization must have a minimum … Continue Reading
CBN Clears $7 Billion FX Backlog as External Reserves Soar to $34.11 Billion
The Central Bank of Nigeria (CBN) announced a significant milestone in its efforts to stabilize the country’s economy as it declared the clearance of all valid foreign exchange backlogs amounting to $7 billion.
Acting Director of Corporate Communications, Mrs Hakama … Continue Reading
CBN Extends N273.34 Billion Credit Facility to Nigerian DisCos for Meter Acquisition and Distribution Enhancement
The Central Bank of Nigeria (CBN) has provided a substantial credit facility of N273.34 billion to eleven Electricity Distribution Companies (DisCos) in Nigeria.
This funding, outlined in a comprehensive report covering the period from 2015 to 2022, aims … Continue Reading
CBN Allocates 2.15 Million Bags of Fertilizer Worth Over N100 Billion to Boost Food Production in Nigeria
The Central Bank of Nigeria (CBN) has allocated 2.15 million bags of fertilizer valued at over N100 billion to the Federal Ministry of Agriculture and Food Security. This allocation aims to support farmers nationwide and mitigate the challenges … Continue Reading
CBN Clarifies Fertilisers Donation to Agriculture Ministry
Central Bank of Nigeria Offers Support to Boost Agricultural Production
The Central Bank of Nigeria (CBN) clarified its stance on real sector interventions by donating 2.15 million tonnes of assorted fertilisers, valued at over N 100 billion, to the … Continue Reading
CBN Sells N161.5 Billion in Treasury Bills Amid Investor Appetite for Higher Returns
In its auction held on March 13, 2024, the Central Bank of Nigeria (CBN) successfully sold N161.5 billion worth of Nigerian Treasury Bills (NTBs), showcasing continued investor confidence in the country’s debt instruments.
The auction attracted significant … Continue Reading
Central Bank of Nigeria Allocates N100bn, Two Million Bags of Fertilisers to Ministry of Agriculture
The Central Bank of Nigeria (CBN) has announced a significant allocation of resources to the Ministry of Agriculture in a bid to tackle the soaring food prices plaguing Nigeria..
Governor Olayemi Cardoso revealed during a meeting at the ministry’s … Continue Reading