Tag Archives: Central Bank of Nigeria (CBN)

The Central Bank of Nigeria (CBN) has pleaded with a Federal High Court in Owerri not to make absolute the temporary garnishee order it granted six chiefs representing the Ogoni community, compelling it to pay the sum of N122.53 billion on behalf of First Bank of Nigeria Limited (First Bank). CBN’s lead counsel, Fabian Ajogwu (SAN), while responding to a ...

The Central Bank of Nigeria (CBN) on Friday supplied about $355.43 million to the Retail Secondary Market Intervention Sales (SMIS) of the foreign exchange market in its resolve to guarantee liquidity. Figures obtained from the CBN by PREMIUM TIMES revealed that the provision was to help meet requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors ...

The nation’s external reserves hit $43.2bn on March 6, 2018, data obtained from the Central Bank of Nigeria showed on Wednesday. The foreign exchange reserves had recorded a four-year high at $42.76bn on March 2, after commencing this year at $38.77bn. The foreign reserves have gained about $3.99bn or 10.3 per cent this year. The reserves had moved from $38.77bn ...

The International Monetary Fund, on Wednesday, called on the Central Bank of Nigeria to contain rising banking risks, while also commending the regulator for its recent decision to stop weak banks from paying dividends to shareholders. Against the backdrop of huge non-performing loans, which have weakened the capital base and asset quality of the country’s Deposit Money Banks, it also ...

Nigeria’s manufacturing activity measured by the Purchasing Managers’ Index (PMI) is relatively flat at 54.7 in February, from 54.6 reading in January. The latest report released on Thursday by FBNQuest shows all five sub-indices in positive territory. FBNQuest believes this stability would continue, although January through to March, are relatively slow months in terms of naira liquidity, resulting in subdued ...

The Edo Government says it has reached an agreement with the Central Bank of Nigeria (CBN) to secure N36.7million loan for 150 farmers in Auchi in Etsako West Local Government Area. Joe Okojie, the Special Adviser to Governor Godwin Obaseki, on Agriculture and Food Security Programme, who said this at a meeting with farmers of the neighbourhood, in Auchi, on ...

The SBG Securities (Pty) Limited of South Africa, a wholly owned subsidiary of the Standard Bank Group, has projected that about nine commercial banks in Nigeria would be able to pay dividends this year, despite the adjustment to the dividend payout policy issued by the Central Bank of Nigeria (CBN) recently. The banks, according to a report by the research ...

The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to settle customers’ complaints on issues of overcharge, unauthorised deductions and other matters within two weeks. Tajudeen Ahmed, the CBN Head of Complaints Management Division, said this in an interview with the News Agency of Nigeria, on Thursday, in Abuja. He said that the CBN would ensure ...

Nigeria’s foreign exchange reserves have climbed beyond $40billion as of last week, according to the Head of Communications, Central Bank of Nigeria (CBN), Isaac Okoroafor. Data from the apex bank shows the reserves rose to $42.8 billion, growing by $3.5 billion since the beginning of the year. The reserves opened the New Year at $39.3 billion. The steady increases have ...

The Enugu House of Assembly has urged the Central Bank of Nigeria (CBN), and other financial regulatory authorities to look into the activities of commercial banks, especially in Enugu State, with regards to charges on customers’ transactions, and stop the multiplicity of charges which they impose on customers’ accounts. This was sequel to a motion moved at plenary by the ...