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Again, CBN boosts forex market with $210m

June 19, 2019 Editor 0

The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market. Figures obtained from the CBN on Tuesday, indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100 million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million.  The sum of $55 million was allocated to customers Read More

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Imo: CBN sensitises stakeholders on stability of financial system

June 15, 2019 Editor 0

The Central Bank of Nigeria (CBN) has concluded a one-day interactive session with stakeholders on measures being put in place to ensure stability in the financial system and economy. Addressing stakeholders at a forum in Owerri, Imo state capita, the general secretary, Textile workers union and Vice President, industrial global union, comrade Isa Aremu, commended CBN for seeing Nigerian workers Read More

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CBN Injects $210m into FX market

June 12, 2019 Editor 0

The interbank segment of the Foreign Exchange Market has received a boost of $210 million from the Central Bank of Nigeria (CBN) following the conclusion of sales on Tuesday.  Figures obtained from the CBN indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100 million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million.  Read More

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God wins despite the smoking gun

May 24, 2019 Editorial III 0

Last week was very eventful with a screaming headline in one of the newspapers calling for the probe of Central Bank of Nigeria (CBN) over alleged N500 billion fraud. This was a fallout of the leaked audio clip to the socio-media in the previous week, which happened to be the week the news of Godwin Emefiele’s reappointment as the CBN Read More

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A jinx broken: Emefiele proved his mettle

May 16, 2019 Editorial III 0

When the news broke on Thursday, May 9, 2019, that President Muhammadu Buhari had re-nominated Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), for a fresh term of five years, both local and international financial space heaved a sigh of relief. The news unexpectedly came when speculations were rife in some section of the media that the Read More

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Breaking: Senate confirms another 5-year term for Emefiele as CBN gov

May 16, 2019 Editor 0

The Senate Thursday, confirmed renewal of appointment of Dr Godwin Ifeanyi Emefiele as Governor of the Central Bank of Nigeria ( CBN) for another five-year tenure in office. Senate’s confirmation of Emefiele’s reappointment as CBN governor was sequel to recommendation made to that effect by its committee on Banking, Insurance and other Financial Institutions. President Muhammadu Buhari had in a letter Read More

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Breaking: Buhari nominates Emefele for another term

May 9, 2019 Editorial II 0

President Muhammdu Buhari may have nominated the Central Bank Governor, Mr. Godwin Emefiele, for a second term. It was gathered Thursday morning that the President has sent a letter nominating the CBN governor for another term to the Senate President in line with the CBN Act, according to Thisday report. Details loading…

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$6bn Q1 FDIs in Nigeria

April 18, 2019 Blueprint 0

The recent revelation by the Central Bank of Nigeria (CBN) that the country attracted $6 billion foreign investments in the first three months of the year is a welcome development. The trend is an apparent endorsement by the international community of the Buhari administration’s tripartite policy on the war against corruption, insecurity and revitalising the economy. Speaking with journalists at Read More

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FX intervention: CBN injects 247.8m, CNY 34.8m into Retail SMIS

April 5, 2019 Editor 0

The Central Bank of Nigeria (CBN) on Friday, made an intervention of $247.8 million in the retail Secondary Market Intervention Sales (SMIS) and CNY 34.8million in the spot and short tenored forwards segment of the inter-bank foreign market. This was disclosed by the CBN Director, Corporate Communications Department, Isaac Okorafor, who said the intervention was for requests in the agricultural Read More

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Controversy rocks Emefele’s fate as CBN governor

March 4, 2019 Editorial II 0

The expected re-appointment of Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has caused confusion among Nigerians. While reports in some quarters claimed that the CBN Governor has been sacked, sources in the CBN reportedly refuted the claim. Details loading…

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Army explains troops’ deployment to Port Harcourt CBN, warns ‘desperate’ Politicians

February 16, 2019 Editor 0

The Nigerian Army has said that it deployed troops to various locations and the Central Bank of Nigeria (CBN), Port Harcourt branch in Rivers state to ensure security and safeguard INEC sensitive materials deposited in the bank. It said the measure was part of its constitutional responsibility of aiding civil authorities in safeguarding key and vulnerable points. Spokesperson of 6 Read More

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Breaking: Nigeria’s inflation figures fall 0.07% in January

February 15, 2019 Editor 0

The consumer price index, (CPI) which measures inflation increased by 11.37 percent (year-on-year) in January 2019. This is 0.07 percent points lower than the rate recorded in December 2018 (11.44) percent. On month-on-month basis, the Headline index increased by 0.74 percent in January 2019, same rate as was recorded in December 2018 (0.74) percent.  The percentage change in the average Read More

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FX market: CBN labels ‘faceless agents’ report as ‘unfounded, untrue’

February 4, 2019 Editor 0

The Central Bank of Nigeria (CBN) has described the headline story in the BusinessDay newspaper of Monday, February 4, 2019 titled: “Exposed: The Sleazy Face of N306/$, inside Nigeria’s racket where faceless agents pocket over N32bn annually” as unfounded and untrue. BusinessDay newspaper in its report Monday, allegd that faceless agents in the country with the backing of regulators were Read More

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Breaking: CBN retains Monetary Policy Rate at 14%

January 22, 2019 Editor 0

The monetary policy copy of the Central Bank of Nigeria (CBN), has retained the Monetary Policy Rate (MPR) at 14 per cenr.  According to the CBN Governor, Godwin Enefiele, the committee also retained all other monetary policy parameters.  The MPC has for consecutive months retained the MPR and all other MPR parameters.  Latest pronouncement by CBN on MPR was still Read More

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Currency in circulation rises to N2.1 trn in Nov

January 6, 2019 Editorial III 0

The Central Bank of Nigeria has said that currency in circulation rose to N2.1 trillion at the end of November last year.  The data which represents a surge of N144 billion compared with N1.956 trillioNgbn reported in the proceeding month of October, confirms people’s fear that spending for political campaign ahead of general election will increase cash in the financial Read More

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CBN decries rising naira abuse

July 30, 2018 Blueprint 0

The Central Bank of Nigeria has decried the growing abuse of the naira through squeezing, selling, spraying and marching on foot while dancing at public functions as well as hoarding by some citizens. The CBN Governor, Mr. Godwin Emefiele, warned that henceforth culprits caught in any of the acts would be liable to sixmonth imprisonment or a fine of N50,000 Read More

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Buhari okays new appointments for CBN, others

June 23, 2018 Blueprint 0

  President Muhammadu Buhari has approved the renewal of tenure of three chief executive officers, four new non-executive directors of the Central Bank of Nigeria (CBN) and two new others for some federal agencies. The appointments were announced yesterday via a statement by the Permanent Secretary (General Services Office) in the Office of the Secretary to the Government of the Read More

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Capital market operators want representation in MPC board

March 31, 2018 Blueprint 0

There are increasing calls for the government to appoint a representative from the capital market into the Monetary Policy Committee (MPC) of the Central Bank of Nigeria. Operators of the market, who made the call opined that the capital market was not considered whenever MPC members met to take decisions. They insisted that appointing a capital market representatives as a Read More

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Nigeria raked in N7.3trn oil revenue in 2017– CBN

February 10, 2018 Blueprint 0

By Benjamin Umuteme Abuja Central Bank of Nigeria (CBN) has staed that Nigeria’s total revenue from crude oil rose by 29 percent to N7.3 trillion in 2017, reflecting impact of increases production and in crude oil price. The revenue from oil represented 69 percent of the total federation revenue, which rose by 22 percent to N10.6 trillion in 2017. However, Read More

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CBN Anchor Borrower Commences Rice Milling, Target’s 11,000 Metric Tonnes in Borno

February 5, 2018 Blueprint 0

The Central Bank of Nigeria, CBN, which cultivated  3,176 hectares of land for rice production in Borno State through the anchor borrower’s programme has commenced the milling and processing of the commodity. Chairman of the  Kalef Investment Limited company, Alhaji Abba Kale, disclosed this in a statement issued in Maiduguri. He said that the initial target of the company was Read More

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NCC explains how false speculations reduce 9Mobile’s subscribers

February 2, 2018 Blueprint 0

The Nigerian Communications Commission (NCC) has said that false speculations surrounding the sale of 9Mobile has reduced the telecommunications company’s subscriber base from 21 million to 17 million. The Executive Commissioner, Stakeholders Management, NCC, Mr Sunday Dare said this during an interview with newsmen on Thursday in Lagos. The News Agency of Nigeria (NAN) reports that the telecommunications operator’s customers, Read More

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Buhari nominates Edward Adamu as CBN Deputy Governor

February 1, 2018 Blueprint 0

President Muhammadu Buhari has nominated Mr Edward Lametek Adamu to the Senate for confirmation as Deputy Governor of the Central Bank of Nigeria (CBN). Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, made this known in a statement in Abuja on Thursday. Adesina stated that the nomination was in accordance with the provisions of Section Read More

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Buhari appoints new CBN Deputy Governor, MPC members

October 5, 2017 Blueprint 0

  President Muhammadu Buhari has presented Mrs Aisha Ahmad to the Senate for confirmation as Deputy Governor of the Central Bank of Nigeria (CBN). She is to replace a former Deputy Governor, who retired early this year. In accordance with the provisions of Section 8(1) (2) of the Central Bank of Nigeria (Establishment) Act 2007, the President urged the Senate Read More