We’re working to avert further Naira fall – CBN

We’re working to avert further Naira fall – CBN

With an escalating demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has assured that it would continue to make deliberate efforts in the foreign exchange sector to avert further downward slide in the value of the naira, which it said was fuelled by speculative tendencies. The…

2023: We no longer keep sensitive materials with CBN – INEC

2023: We no longer keep sensitive materials with CBN – INEC

The Independent National Electoral Commission, INEC, has said that sensitive electoral materials will no longer be kept with the Central Bank of Nigeria, CBN. Professor Mahmood Yakubu, INEC Chairman, said the sensitive electoral materials would no longer be kept with the CBN, starting from the forthcoming Ekiti State governorship election. While speaking in the country’s…

Scam-Alert: CBN urges Nigerians to verify companies’ licence status before investing

Scam-Alert: CBN urges Nigerians to verify companies’ licence status before investing

The Central Bank of Nigeria has warned Nigerians to refrain from dealing with illegal financial operators (IFOs). This was stated by The Financial Services Regulation Coordinating Committee (FSRCC) in an advisory posted on the (CBN’s) website on Monday. FRSCC is an institution set up to handle matters of common interest and concern to the various…

Court strikes out suit challenging CBN’s cashless policy

Court strikes out suit challenging CBN’s cashless policy

On grounds of incompetence, lack of proof, and absence of jurisdiction, a Federal High Court in Lagos has struck out a suit challenging the Central Bank of Nigeria (CBN)’s Cashless Policy. The suit, filed by a plaintiff, Victor Onyegbajo, claimed that the policy was unconstitutional, null and void and of no effect to the extent…

Unemployment: FG set to finance 75,600 N-power beneficiaries

Unemployment: FG set to finance 75,600 N-power beneficiaries

The Federal Government in collaboration with the Central Bank of Nigeria (CBN), has concluded plans to give financial empowerment to 75,600 batches A and B beneficiaries of N-Power programme. The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq, said this at the inauguration of the NEXIT-CBN Agri-Business, Small and Medium Enterprises…

#2023-Election: Northern group wants Emefiele to join presidential race

#2023-Election: Northern group wants Emefiele to join presidential race

A pressure group, Unified Northern Nigeria Youth Forum, has advised the Governor of the Central Bank of Nigeria (CBN), Dr. Godwin Emefiele to join the 2023 presidential race. According to the group, Dr. Godwin Emefiele is the messiah Nigeria needs to survive this trying period. “There has been a series of consultations and mass rallies…

Report shows FG recorded N307.49bn revenue shortfall in four months

Report shows FG recorded N307.49bn revenue shortfall in four months

Data obtained from the Central Bank of Nigeria’s latest economic reports shows that the Nigerian Government recorded a revenue shortfall of N307.49bn from July to October 2021. The report indicated that the federation revenue improved in the third quarter of 2021 as a result of a sustained uptick in economic activities and crude oil prices….

Titus Okunroumu: Ex-CBN director urges FG resuscitate refineries to boost economy

Titus Okunroumu: Ex-CBN director urges FG resuscitate refineries to boost economy

Former Director of Central Bank of Nigeria (CBN), Dr Titus Okunroumu, has called on the Federal Government to intensify efforts at resuscitating the nation’s refineries to boost the economy. Okunroumu told the newsmen on Friday in Sang-Ota, Ogun State, that most of the refineries were operating below optimal level, leading to importation of bulk of…

GMD charges to court over attempt to defraud CBN of $100m
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GMD charges to court over attempt to defraud CBN of $100m

The Group Managing Director (GMD) of an oil marketing firm, Triumph Oil and Gas Madagascar Nigeria Limited, Ibrahim Olanrewaju Mahmud has been charged with an attempt to defraud the Central Bank of Nigeria (CBN) to the tune of $100 million. Mahmud, who was arraigned before a High Court of the Federal Capital Territory (FCT), Abuja…

50,000 users download eNaira App 24 hours after official launch

50,000 users download eNaira App 24 hours after official launch

…as 33 banks join platform Just 24 hours after President Muhammadu Buhari launch the eNaira platform, no fewer than 50,000 Nigerians have downloaded its mobile application. The 8.8 megabytes app is designed with green as its dominant colour, with a mixture of white and black. According to the offeror of the App, the Central Bank…

Buhari launches eNaira, says platform can increase Nigeria’s GDP by $29bn in 10 years

Buhari launches eNaira, says platform can increase Nigeria’s GDP by $29bn in 10 years

President Muhammadu Buhari, on Monday, launched the eNaira platform. The eNaira is a culmination of several years of research work by the Central Bank of Nigeria in advancing the boundaries of the payments system in order to make financial transactions easier and seamless for every stratum of society. The President, during the official launch of…

CBN releases N44bn to CTG sector, creates 620,000 jobs in two years

CBN releases N44bn to CTG sector, creates 620,000 jobs in two years

The Central Bank of Nigeria through its intervention in Cotton, Textile and Garment (CTG) sector has created over 620,000 direct and indirect jobs in two years. While speaking at a stakeholders’ engagement for the resuscitation of the Cotton, Textile and Garment sector, the CBN Governor Godwin Emefiele made this disclosure in Abuja on Tuesday. Emefiele…