Ijeoma Nwogwugwu: My dismissal of Ezekwesili’s statement was knee-jerk

by Ijeoma Nwogwugwu Seeing the glaring conflict as well as the dawning realisation that my initial dismissal of Ezekwesili’s statement was knee-jerk, prompted me to make some discreet enquiries from the central bank to ascertain who was telling the truth. When Oby Ezekwesili, former Education Minister and World Bank Vice President for Africa, made... Read More

CBN, Excess Crude Account, ngozi okonjo iweala, nnpc, Oby Ezekwesili

February 4, 2013

Opinion: Sanusi: General overseer accountable only to the gods

by Tayo Oke Unlike the men in white flowing robes, Sanusi is accountable to the gods; the gods of free market economics: interest rates, inflation, production, distribution and exchange Ever wondered to whom the Pope is accountable to? To God, right? What about the General Overseers of some of our major churches in Nigeria, some... Read More

autonomy, CBN, Corporate governance, Sanusi Lamido Sanusi

February 1, 2013

We watch closely: NEITI begins audit of oil states’ allocations

by Ebere Agina The Nigeria Extractive Industries Transparency Initiative (NEITI) has commenced the audit of physical allocations and statutory disbursement of the extractive industry from 2007 to 2011 with an initial focus on the nine oil-producing states. This audit is coming in line with the decision of the Federal Executive Council at its November 28,... Read More

Abia, Akwa Ibom, Bayelsa, CBN, Cross River, Delta, Edo, Imo, nddc, NEITI, Oil, Ondo and River, PTDF, Zainab Ahmed

January 28, 2013

“Sanusi is just an ordinary man” – Oyedepo fires back at CBN governor

by Akan Ido Pastor Gideon Oyedepo of the Living Faith Church otherwise known as Winners’ Chapel, has lashed out at the Central Bank of Nigeria governor, Lamido Sanusi Lamido, for calling for the scrapping of the Christian Association of Nigeria (CAN). Oyedepo, a pastor in the Abuja branch of the ministry, addressed this during a... Read More

CBN, Gideon Oyedepo, Sanusi Lamido Sanusi

January 25, 2013

Analysis: The GEJ interview and the Boko Haram misconception

by Sylvester Awenlimobor President Jonathan’s responses to key issues raised by Amanpour during the interview were far from accurate, they at best dance about the burning issues, like a Moses who had heard the voice of God, they offered no concrete answers at a time when Nigerians require answers. On Wednesday January 23, 2012, President,... Read More

CBN, Christian Amanpour, Sanusi Lamido Sanusi, Tony Blair, USIP

January 25, 2013

CBN sets new deposit limits for banks

by Ebere Agina The Central Bank of Nigeria (CBN) has set new deposit limits for all categories of account holders and introduced three-tier Know Your Customer (KYC) requirements for banks. In a circular issued by the CBN to all banks and other financial institutions, signed by the Director, Financial Policy and Regulations Department, Chris Chukwu,... Read More

banks, CBN, Chris Chukwu, KYC, Sanusi Lamido Sanusi

January 18, 2013

Opinion: Democratising CBN is long overdue

by Odilim Enwegbara Nigerians have made it clear to their lawmakers that anything short of proper oversight of the bank should be unacceptable. The havoc the 2008 financial crisis brought to Nigeria would have been minimal, had it not been that the breakdown in the Central Bank of Nigeria’s oversight and surveillance system, allowed the... Read More

CBN, odilim enwegbara, sanusi

January 17, 2013

Capitalization: CBN revokes licences of 236 Bureau de Change operators

by Emmanuel Okubenji The Central Bank of Nigeria (CBN) has revoked the operating licences of 236 Bureau de Change (BDCs) operators for their inability to meet the required capital for foreign exchange transactions. The CBN stated this in its circular with reference number “TED/FEM/FPC/GEN/01/041” on Wednesday and signed by the Director of Trade and Exchange... Read More

Batari Musa, BDC, CBN, Forex market

January 12, 2013

Polymer notes scam: Soludo gets bail, passports seized; “No, I was invited, not arrested,” he claims

by Isi Esene The former governor of the Central Bank of Nigeria, Prof. Charles Chukwuma Soludo, who was on Thursday arrested by operatives of the Economic and Financial Crimes Commission has been granted administrative bail and instructed to return to the commission yesterday, Friday. Soludo was arrested in his Abuja home alongside several other senior... Read More

Abuja, CBN, Charles Chukwuma Soludo, Currency scam, EFCC, passport

January 11, 2013

Charles Soludo, others grilled by the EFCC over currency scam, to face prosecution soon

by Isi Esene The former governor of the Central Bank of Nigeria (CBN), Prof. Charles Soludo was yesterday night picked up by operatives of the Economic and Financial Crimes Commission (EFCC) over a controversial contract he allegedly awarded to an Australian firm for the printing of polymer currency notes while he waas head of the... Read More

australia, CBN, Charles Soludo, corruption, EFCC, Fraud, Securency International Pty, Wilson Uwujaren

January 9, 2013

Why fuel subsidy account is empty – Okonjo-Iweala

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Tuesday confirmed The PUNCH’s story that the Federal Government’s subsidy account with the Central Bank of Nigeria was empty, blaming the situation on technical hitches in the documentation with the CBN. Okonjo-Iweala, while briefing journalists in Abuja, said the transfer of funds meant for fuel subsidy payments... Read More

CBN, DMO, Excess Crude Oil, finance ministry, ngozi okonjo iweala, supplementary budget

January 8, 2013

Fuel subsidy: Major fuel crisis imminent as FG’s ‘cheques bounce’ at CBN

by Isi Esene Another storm might be brewing with regards fuel subsidy payment to oil marketers as most of them were reportedly turned back while making attempts to claim funds after importing fuel products into the country. It appears that three weeks after the National Assembly approved a N161.6bn supplementary budget for payment of fuel... Read More

CBN, central bank of Nigeria, fuel subsidy, Goodluck Jonathan, national assembly, ngozi okonjo iweala, Paul Nwabuikwu, supplementary budget, Ugochukwu Okoroafor

January 7, 2013

Game on: Reps set to remove CBN’s supervisory role

by Emmanuel Okubenji The House of Representatives has initiated steps to curtail the bank supervisory roles of the Central Bank of Nigeria (CBN) and fully empower the Chartered Institute of Bankers of Nigeria (CIBN) to do so. The CBN is the primary regulator of the banking industry. Chairman House Committee on Banking and Currency, Jones... Read More

CBN, CIBN, House of Reps, Jones Onyereri, NDIC

January 7, 2013

Clipping the governor’s wings? Reps may remove Central Bank’s supervisory role

Bank supervision, banking, CBN, central bank of Nigeria, CIBN, NDIC, Sanusi Lamido Sanuso

December 14, 2012

Ugodre talks Figures: Deposit vs lending rates in Nigeria… banks keep cheating

by Ugodre Obi-Cukwu When it comes to banking in Nigeria, there is no such thing as a fair bargain for depositors. They are coerced or forced to deposit their hard earned cash into Nigerian banks at rates well below inflation rate. To make matters worse they get to borrow at more than three times the... Read More

banking in Nigeria, CBN, Ugodre Obi-Cukwu, Ugodre Talks Figures

December 12, 2012

Ugodre Talks Figures: How Nigeria spent the N5.57tr it earned in the first half of 2012

by Ugodre Social and community services accounted for 15.3 per cent of the total but declined by 27.8 per cent from the level in the corresponding period of 2011 to N39.62 billion or 0.2 per cent of GDP in the first half of 2012. The recently released CBN half year economic report revealed Nigeria earned... Read More

CBN, Domestic Subsidy, economic report, Excess Crude Oil, Excess PPT/Royalty, Joint Venture Cash Call, revenue, Ugodre Talks Figures

December 10, 2012

Banks to stop N100 ATM charge from December 17

The Central Bank of Nigeria has said that customers of deposit money banks will no longer pay N100 on withdrawals from Automated Teller Machines whenever they use banks other than theirs starting from December 17, 2012. The Governor, CBN, Mr. Lamido Sanusi, said on Sunday at the fourth Annual Retreat of the Bankers Committee in... Read More

atm, Bankers' Committee, Bisi Onasanya, CBN, First Bank Plc, Sanusi Lamido Sanusi

December 2, 2012

Simon Kolawole: Beyond sacking civil servants

…we cannot be building a new Presidential Banquet Hall at over N2 billion and be complaining about “no money”. A few years back when I was in the UK, my wife wanted to do a course. She needed a waiver on council tax, as a student. We went to the council office. An officer attended... Read More

barack obama, boko haram, CBN, Emeka Ojukwu, Goodluck Jonathan, Mitt Romney, recurrent expenditure, Sanusi Lamido Sanusi, SARS

December 1, 2012

“Sacking me won’t change anything” – Sanusi fires back at critics (WATCH)

by Akan Ido The bickering generated over the comments attributed to the governor of the Central Bank of Nigeria (CBN) “The CBN governor is not in a popularity contest, my job is to give a frank and honest opinion as to where I think the economy will go… sacking me won’t change anything,” he said.... Read More

CBN, central bank of Nigeria, economy, nlc, recurrent expenditure, Sanusi Lamido Sanusi

November 30, 2012

Remove the log from the CBN first: Reps ‘caution’ Sanusi over his utterances

by Akan Ido The House of Representatives has accused the governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, of making utterances capable of heating up the polity. Victor Ogene, the deputy chairman of the House on media and public affairs briefed journalists saying Sanusi has a penchant for making “frequent controversial utterances.” “Is... Read More

CBN, central bank of Nigeria, House of Representatives, Sanusi Lamido Sanusi, Victor Ogene

November 28, 2012

“Stop irresponsible spending” – Sanusi tells FG to sack 50 per cent of civil servants, remove fuel subsidy

by Isi Esene Sanusi Lamido Sanusi, governor of the Central Bank of Nigeria (CBN), yesterday called on the Federal Government to slash 50 per cent of the entire civil service workforce. He lamented that 70 per cent of the nation’s earnings go to the payment of salaries and entitlements of civil servants. Sanusi said this... Read More

Capital Market Committee, CBN, central bank of Nigeria, Civil service, Delta, Emmanuel Uduaghan, recurrent expenditure, Sanusi Lamido Sanusi, SLS, Warri

November 21, 2012

Former bank manager goes on hunger-strike over unpaid terminal benefits

by Isi Esene Olubiyi Odunaro, a 53-year-old former employee of Hallmark Bank has gone on hunger-strike demanding the payment of his terminal benefits vowing to continue his protest until his demands are met. Mr. Odunaro has also pitched a tent in a garden at Mobolaji Bank Anthony Way, Ikeja, to protest the perceived injustice. Hallmark... Read More

CBN, central bank of Nigeria, Hallmark Bank, hunger strike, ikeja, nelson mandela, Olubiyi Odunaro

November 8, 2012

Safety concerns: House of Reps to investigate Aero Contractors

by Isi Esene The House of Representatives yesterday mandated its committee on aviation to look into the operations of Aero Contractors airline over the frequent engine problems associated with the operations of the aviation company. Acting on a motion brought forward by member, Robinson Uwak, the House agreed that it is necessary so as to... Read More

Aero Contractors, aviation, CBN, Crash, Dana, engine, House of Representatives

October 3, 2012

Show us the money: Court gives CBN 72hrs to account for Cecilia Ibru’s assets

by Isi Esene Justice Mohammed Idris of the Lagos Federal High Court yesterday ordered the Central Bank of Nigeria (CBN) to reveal the whereabouts of the N191bn assets recovered from Cecilia Ibru, former managing director of Ocean Bank Plc. According to reports, Justice Idris gave the CBN management a 3-day ultimatum to comply with the... Read More

Boniface Okezie, CBN, Cecilia Ibru, central bank of Nigeria, FOI, Freedom of Information, Justice Mohammed Idris, Kola Awodein, Oceanic Bank, Olaniwun Ajayi, Progressive Shareholders Association

September 29, 2012

Rejoinder to Sanusi piece: “Reading Dele Momodu is like watching a poor quality film”

by Godwin Opene Editors Note: In response to Dele Momodu’s piece last week on ‘The bully called Sanusi’, the writer penned this rejoinder Usually for me, the surest way to avoid reading a sad piece of writing or watch a poor quality film is to not start because then, I carry on reading or watching,... Read More

CBN, Dele Momodu, lamido, pendulum, sanusi

September 26, 2012

$15m Ibori bribe: “Return money to Delta State, sack EFCC boss” – Edwin Clark weighs in

by Isi Esene The self-styled godfather to the president, Chief Edwin Clark has called for the removal of the chairman of the Economic and Financial Crimes Commission, Ibrahim Lamorde over the $15m allegedly offered to former EFCC chairman, Nuhu Ribadu by the former Delta State governor, James Ibori. Clark said this at a press briefing... Read More

bribe, CBN, central bank of Nigeria, delta state, Economic and Financial Crimes Commission, Edwin Clark, EFCC, Emmanuel Uduaghan, Ibrahim Lamorde, James Ibori, nuhu ribadu

September 25, 2012

We did not take over management of Aero Contractors – AMCON

by Isi Esene There are conflicting signals coming from the Central Bank of Nigeria and the Assets Management Company of Nigeria (AMCON) regarding the takeover of Aero Contractors Airline. Mustafa Chike-Obi, the AMCON managing director denied reports of a takeover saying “it is not true”. He said, “Reports that AMCON has taken over Aero Contractors... Read More

Aero Contractors, Airline, AMCON, Assets Management Company of Nigeria, aviation, CBN, central bank of Nigeria, debt, loan, Mustafa Chike-Obi

September 22, 2012

Loudmouth: Senate summons Maku over ’embarrassing comments’

by Reuben Daba Whatever the National Assembly members had during their two months recess, it surely brought out the radical bent in them. Since their return, it has been one confrontation after another with the executive arm. Just a day after the Senate used the I-word in threatening President Jonathan, the senators were at it... Read More

CBN, Eyinnaya Abaribe, Labaran Maku, senate

September 21, 2012

It’s Sanusi again: CBN pledges support for Super Eagles

by Stanley Azuakola The Central Bank of Nigeria (CBN) under the leadership of Sanusi Lamido Sanusi has become one of the most visible institutions in the country, a situation which various pundits have criticised time and time again. From donating to bomb blast victims, to universities, to flood victims, and now to Nigeria’s senior national... Read More

CBN, Mohammed Sanusi, nff, Sanusi Lamido, super eagles, Ugochukwu Okoroafor