A Federal High Court sitting in Abuja has ordered the Central Bank of Nigeria (CBN) to provide the Human and Environmental Development Agenda (HEDA) Resource Centre access to information relating to the country’s exchange rate subsidy. HEDA obtained the ruling when the court decided on a suit it instituted in 2020 against the apex bank after denying it access to …

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emiefele has read the riot act to shipping companies exporting undocumented cargoes from the shores of the country. Emiefele sent out this note of warning at the RT200 Non-Oil Export Summit 2023 on Tuesday in Abuja. While speaking on the theme “Challenges and Prospects to Success”, he detailed the …

The Central Bank of Nigeria has said that it would sanction banks assisting the operations of unlicensed foreign firms. In its ‘Guidelines for the Regulation of Representative Offices of Foreign Banks in Nigeria’, signed by its Director of Financial Policy and Regulation, Muhammad Musa and released on Monday, the regulatory bank stated: “Any CBN regulated entity found to be assisting, …

The House of Representatives on Thursday approved an additional N1 trillion in Ways and Means advances for the implementation of the 2022 Supplementary Appropriation Act as passed by the Nation Assembly. The Ways and Means provision allows the government to take loans from the Central Bank of Nigeria (CBN). This followed the consideration of the report of the House Committees …

The Central Bank of Nigeria (CBN) has said that there are no plans to phase out the redesigned Naira notes from circulation, according to a statement on Sunday by its Acting Director of Corporate Communications, Isa AbdulMumin. The statement was a reaction to a viral news on social media that the apex bank was contemplating the withdrawal of the recently redesigned …

Amid the growing debt burden, the Central Bank of Nigeria’s Net Domestic Credit rose to N70.6 trillion in March from N70.2 in February. The figure represented 0.56 per cent on a monthly comparison. Data from the Central Bank of Nigeria’s Money and Credit statistics released on Friday showed that the credit to the government and private sector resulted in a …

The Central Bank of Nigeria (CBN) has approved the appointment of Akinola George-Taylor as the new Managing Director and Chief Executive Officer of Heritage Bank. The regulatory authority’s approval came six months after the bank appointed George-Taylor as acting managing director following the retirement of Ifie Sekibo. In a statement made on Sunday, the Group Head of Corporate Communications at …

Nigerians seeking employment in the Central Bank of Nigeria (CBN) have been warned against falling prey to online scammers advertising job applications. The Punch reports that the apex bank disassociated itself from a fake recruitment portal purportedly hiring employees for the bankers’ bank. In a statement issued on Thursday, April 13, by the acting director of Corporate Communications, Isa AbdulMumin, the …

The International Monetary Fund (IMF) has urged the Central Bank Nigeria (CBN) to continue to tighten monetary policy rates to rein in inflation. The IMF Director of Research Department, Pierre-Oliver Gourinchas said this while releasing the World Economic Outlook report at the ongoing IMF/World Bank Spring meetings in Washington DC. The fund in its World Economic Outlook (WEO) ‘A Rocky …

Governors of the 36 states of the federation are to meet on Tuesday with the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related offences Commission (ICPC) on how to manage their states’ security votes. Attempts to get governors to react to the implication of the meeting for their states last night proved abortive, as …