CBN

The Late 5: These are the stories drove conversations today

by Dolapo Adelana These are the top five stories drove conversations today. 1. Obama will not criticise or comment on Trump when he returns to public life Former US President Barack Obama has said he will refrain from speaking ill about current US president, Donald Trump. 2. CBN reverses cashless policy, directs banks to refund charges... Read More

Featured, The News Blog

Babachir Lawal, barack obama, Cashless policy, CBN, donald trump, EFCC, Garba Shehu, ibrahim magu, President Muhammadu Buhari, The Late 5, Yemi Osinbajo

Just In: CBN reverses cashless policy, directs banks to refund charges

The Central Bank of Nigeria (CBN) has suspended its earlier directive on the implementation of cashless policy. In a circular released on Friday, the bank asked banks to revert to old charges and refund customers who had been debited. CBN had earlier announced new charges on deposit and withdrawals above a threshold of N500,000. [Read... Read More

Cashless policy, CBN, refund charges, reverses

CBN pumps $100m into forex market

The Central Bank of Nigeria (CBN) has pumped an additional $100 million into the foreign exchange market, after releasing $280 million on Tuesday. The bank has offered additional $100 million to authorised dealers to meet the 7 to 15-day forwards requests of customers. Isaac Okorafor, the bank’s spokesperson said the authorised dealers have been unable... Read More

100m, BDCs, CBN, Forex market, SMEs

The Big 5: These are the stories you should be monitoring today

These are the top five stories you should monitor today. ‘Seized $50m: EFCC searches Peter Obi, Mu’azu, others’ Osborne flats’ As part of investigations into the $50m recovered by the Economic and Financial Crimes Commission (EFCC), the agency has searched the apartments of the immediate past Governor of Anambra State, Peter Obi; and a former... Read More

$280m, $50m, CBN, EFCC, INEC, malabu oil deal, Mohammed Adoke

The YNaija Tracklist: I didn’t authorise Malabu oil deal – Adoke | ‘Seized $50m: EFCC searches Peter Obi, Mu’azu, others’ Osborne flats’ | More stories

From the papers this morning – a Tracklist. EFCC will decide fate of INEC RECs who received bribes – Presidency – YNaija ‘Seized $50m: EFCC searches Peter Obi, Mu’azu, others’ Osborne flats’ – YNaija I didn’t authorise Malabu oil deal – Adoke – YNaija Customs distrbute 136,476 seized bags of rice to IDPs – YNaija CBN... Read More

$280m, CBN, Dangoe, EFCC, Goodluck Jonathan, malabu oil, Mohammed Adoke, recession, The YNaija Tracklist

CBN disburses $280m to SMEs, BDCs, others

The Central Bank of Nigeria on Tuesday injected fresh $280m into various sectors of the economy. The CBN said in this a statement by its Acting Director, Corporate Communications Department, Mr. Isaac Okorafor. The apex bank said it had also commenced the weekly sale of $20,000 to Bureau De Change operators. [Read Also: CBN INTRODUCES ‘FORM... Read More

$280m, BDCs, CBN, Disburse, SMEs

EFCC

We don’t know the source of $50m discovered by EFCC – CBN

by Azeez Adeniyi The Central Bank of Nigeria has said it does not know the source of $50m discovered by the Economic and Financial Crimes Commission (EFCC) at an apartment in Ikoyi Lagos. CBN spokesman Isaac Okorafor while speaking with The Nation said the apex bank only issues currencies to banks who then give them... Read More

$50m, CBN, EFCC, Ikoyi apartmwnt, source

CBN introduces ‘Form X’ for SMEs to ease forex documentation

The Central Bank of Nigeria, CBN, has introduced the use of FORM X for SMEs that require basic documentation for foreign exchange. Confirming the development, the apex bank spokesman, Mr Isaac Okorafor, said the innovative measure was intended to ease documentation challenges usually encountered by this category of businesses. [Read Also: CBN RELEASES ADDITIONAL $250M FOR... Read More

CBN, Documentation, Forex, Form X, SMEs

Peregrino Brimah: Emefiele, Sanusi chief suspects in massive robbery heist | Over $1bn raw currency found by EFCC

Peregrino Brimah Every time the EFCC via Whistleblowers makes a find of another stash of billions of naira, Nigerians sigh, “Sanusi, Emefiele.” The latest find was an astonishing sum of some $43.4m, N23.2m and £27,800 in mint notes found in an Ikoyi apartment. Out of the no less than the equivalent of 1 billion dollars, more like several billion, looted... Read More

CBN, corruption, EFCC, Emefiele, nigeria, opinion, Peregrino Brimah, sanusi, Whistleblowers

CBN releases additional $250m for airlines, oil marketers, others

by Dolapo Adelana The Central Bank of Nigeria on Wednesday released additional $250m on seven to 30-day forwards for agriculture, airlines, petroleum products and raw materials. The apex bank’s Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, who confirmed this in a statement in Abuja said the CBN had also commenced heavy injection of forex... Read More

$250m, airlines, CBN, Forex, Godwin Emefiele, Isaac Okorafor, oil marketers

CBN to sustain forex provision

by Dolapo Adelana The Central Bank of Nigeria has said it will continue its policy of providing foreign exchange with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end users. This is contained in a statement on Sunday by the apex bank’s acting Director, Corporate Communications, Mr. Isaac... Read More

CBN, Forex, Godwin Emefiele, Isaac Okorafor

We have released adequate forex for tution fee – CBN

by Azeez Adeniyi The Central Bank of Nigeria said it has released adequate amount of foreign exchange for the purpose of Personal Travel Allowance, Business Travel Allowance, and payment of school and medical fees. In a statement by Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor on Friday, the apex bank debunked claims by some... Read More

adequate, CBN, Forex, PTA, tution fee

Inform us if any bank refuses to give you Forex in 24 hours, CBN tells Nigerians

by Dolapo Adelana The Central Bank of Nigeria has urged Nigerians to notify it if any bank refuses to sell forex to them at the approved rate within 24 hours. The apex bank said in a statement Friday by its Ag. Director, Corporate Communications, Isaac Okorafor, that customers should refuse to purchase dollar at any bank... Read More

24 hours, CBN, Forex, Godwin Emefiele

CBN to begin sale of forex to BDCs twice weekly

The Central Bank of Nigeria on Thursday said it would from next Monday begin the sale of foreign exchange to Bureau De Change operators twice weekly. Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, disclosed this in a statement. [Read Also: CBN OFFERS $100M FOREX FOR CORPORATE CUSTOMERS] He said the move was part of the... Read More

BDCs, bureau de change, CBN, Forex, sale

‘EFCC invites more CBN officials over alleged forex manipulation’

by Azeez Adeniyi The Economic and Financial Crimes Commission (EFCC) has invited more senior officials of the Central Bank of Nigeria (CBN) for interrogation over alleged foreign exchange manipulation, Punch reports. The EFCC had reportedly questioned and detained two directors of the apex bank on Wednesday. They were reportedly released late Wednesday after writing a... Read More

CBN, directors, EFCC, Forex manipularion, questioning

Union Bank wins Most Efficient Bank in E-Reference Operations award

Union Bank, one of Nigeria’s longest-standing innovative banks, has been awarded the most effective bank in e-reference operations. This was announced at the recently concluded 2017 CBN/NIBSS Electronic Payment Incentive Scheme Awards, organised by the Central Bank of Nigeria and the Nigeria Inter-bank Settlement System. The e-reference operations refer to one of the activities carried... Read More

awards, CBN, nigeria, union bank

BREAKING: CBN licenses Development Bank of Nigeria

by Dolapo Adelana The Central Bank of Nigeria has licensed the establishment of the Development Bank of Nigeria (DBN). According to the Federal Ministry of Finance, the Development Bank of Nigeria (DBN) is a wholesale financial institution which aims to increase access to finance for MSMEs. The bank will take off with US$1.3bn, to be... Read More

BoA, BoI, CBN, DBN, Federal Ministry of Finance, MSMEs

CBN Cashless CardExpo Africa 2017: Get on board!

CardExpo offers a complete spectrum of event organization This is the one-stop event for everything payment in the African marketplace. The Conference offers strategic insights into industry emerging trend The Exhibition showcases a global mix of products, services and solutions. This year holds opportunities to tap from the millennials marketplace momentum, at the Startup Challenge... Read More

2017, CardExpo, CBN, conference

The Late 5: These are the stories that drove conversations today

by Dolapo Adelana These are the top five stories that drove conversations today. 1. Obasanjo’s former wife files suit to stop her son’s wedding A wife of former President Olusegun Obasanjo, Mrs Taiwo Obasanjo, has filed a suit seeking to stop the wedding of her son, Olujonwo Obasanjo. 2. We have authentic records to prove that Dino couldn’t... Read More

Featured, The News Blog

Bukola Saraki, CBN, Certificate scandal, dino melaye, Forex, The Late 5

Just In: CBN reduces exchange rate for travel allowances, school fees to N360

by Dolapo Adelana The Central Bank of Nigeria has reduced the exchange rate for travel allowances, medical allowances, and school fees from N370 to a dollar to N360 to a dollar. The CBN will sell forex to banks at N357/$1, while banks will sell to their customers at N360/$1 for invisibles (BTA, medicals, fees, etc.)... Read More

CBN, exchange rate, Godwin Emefiele, medicals, school fees, Travel Allowances

130 underaged Nigerian girls trapped in foreign lands | 5 numbers that mattered this week

130 – Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa disclosed that 130 Nigerian girls are trapped outside Nigeria in neighbouring countries. 90 of the girls are in Burkina Faso while the remaining 40 are in Mali. $100 million – The Central Bank of Nigeria on Thursday disclosed that the sum... Read More

Thinking Through

burkina faso, CBN, Forex, libya, mali, numbers that mattered, Whistle blowers

They asked me to resign, I refused | Emir Sanusi Lamido on his battles at the CBN

Emir of Kano, Muhammadu Sanusi II has said the praise singers around President Muhammadu Buhari are the real enemies of the government. In an Instagram post on Friday, the former Governor of the Central Bank of Nigeria (CBN) said the President needs people who will point out his wrongdoings. The monarch said his sincerity while... Read More

CBN, praisesingers, President Muhammadu Buhari, Sanusi Lamido

CBN offers $100m forex for corporate customers

The Central Bank of Nigeria (CBN) on Thursday offered the sum of $100 million to meet the requests of wholesale customers. Acting Director of Corporate Communications at the CBN, Isaac Okorafor, disclosed that $91 million was taken. He said the dealers will have value for their respective bids on Friday, March 24, 2017. He disclosed... Read More

100m, CBN, corporate customers, Forex

Naira sells at N390/dollar

by Dolapo Adelana The Naira continued its steady rise against the Dollar on Thursday as it traded for N390 at the parallel market in Abuja. The Naira also appreciated against the Euro, exchanging at N400 while remaining stable against the Pound Sterling at N465. August 2016 was the last time the Naira traded at between N390... Read More

CBN, dollar, Forex, Godwin Emefiele, naira

BREAKING: CBN sustains interest rate at 14 per cent

by Dolapo Adelana The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday sustained interest rate at 14 per cent. The MPC, in its bid to keep inflation in the country down, also retained the Cash Reserves Ratio at 22.5 per cent and Liquidity Ratio at 30 per cent respectively. The MPC also... Read More

CBN, inflation, Interest, MPC

[The Presidential Blog] Watch how the governors rewarded President Buhari for dropping in on their NEC meeting

Yesterday, President Buhari decided to show some love to the members of the National Economic Council – the State Governors; the Central Bank Governor, the Minister of Finance, the Minister of Justice and of the Federal Capital Territory. Having been accused of not being hands-on enough by Nigerians who had got a taste of Vice-President... Read More

The Presidential Blog

Buhari, CBN, London-Paris Club refund, NEC meeting, Presidential Villa, State House

CBN pumps fresh $195m into foreign exchange market

by Azeez Adeniyi The Central Bank of Nigeria on Tuesday released fresh $195m into the foreign exchange market. This was confirmed in a statement signed by the Acting Director of Corporate Communications Department, Isaac Okoroafor. Okoroafor in the statement said the intervention of $195m is made up of $150m for the wholesale auction and $45m... Read More

$195m, CBN, dollars, foreign exchange, Forex market, naira

N541bn debt: NCC, CBN halt Etisalat take over

by Dolapo Adelana The Central Bank of Nigeria (CBN) and telecom regulator, Nigerian Communications Commission (NCC) have halted the planned take over of telecommunications company Etisalat by its creditors. Earlier in the week, it creditors, which include three Nigerian banks sought to take over the company due to its failure to repay a N541bn loan. But... Read More

CBN, etisalat, Godwin Emefiele, N541bn loan, ncc, take over, tony Ojobo

CBN to intervene in Etisalat’s debt crisis

by Azeez Adeniyi The Nigeria Communication Commission on Thursday said the Commission and Central Bank of Nigeria (CBN) will intervene in the Etisalat loan issue. Director of Public Affairs of NCC, Mr Tony Ojobo said this in a statement issued in Abuja. “After a meeting on Thursday afternoon in Abuja between the Executive Vice Chairman... Read More

CBN, central bank of Nigeria, Debt crisis, etisalat, NCV

CBN directs banks to meet forex demands for school fees within 48 hours

by Azeez Adeniyi The Central Bank of Nigeria has asked Deposit Money Banks to meet demands for school fees, allowances and medical bills within 48 hours. The CBN gave the directive in a circular signed by the Director Financial Markets Department, Alvan Ikoku in Abuja on Sunday. The apex bank also asked banks to open... Read More

CBN, demands, FOREX EXCHANGE, school fees

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