Category: Economy

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CBN plans to ban errant exporters

Godwin Emefiele, the Governor of Central Bank of Nigeria [CBN] has said the regulator is prepared to enforce the repatriation of dollar-proceeds from exports and is planning sanctions against those not complying. Nigeria, Africa...

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FG slashes Collateral Interest Rate on MSMEs fund

by Ranti Joseph The Federal Government has reduced the collateral requirement for the N220billion Micro Small and Medium Enterprises (MSMEs) fund from 75% to 50% and also dropped the interest percentage to banks from...

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Panic as CBN shuts down interbank market

by Godwin Akanfe The Central Bank of Nigeria has issued a circular which has effectively closed the interbank market. As at the morning of Friday, February 13, only one-way, zero margin deals will be...