By Joshua Elekwachi, Abuja The Central Bank of Nigeria (CBN) has said country’s foreign reserves gained $929.2million in January to $36.3 billion from $35.37billion it opened 2021. The gain of foreign reserves in January, according to analysts was due to…
The Governor of Central Bank Governor, Mr Godwin Emefiele, says that the bank will partner government and relevant private sector organisations to provide modern facilities in the heath sector and sponsor research on Coronavirus Disease (COVID-19) in the country. Emefiele…
The Central Bank of Nigeria (CBN) has warned commercial banks and other financial institutions to desist from dealing in crypto currencies as it is illegal. The apex bank stated this on Friday in a statement on its official website by…
By Kayode Tokede Partner and Lead, Digital Transformation, KPMG, Mr Boye Ademola on Wednesday called on the Central Bank of Nigeria (CBN) to initiate a policy on open banking in Nigeria to transform the sector. Ademola made the call during…
By Kayode Tokede The Central Bank of Nigeria (CBN) auctioned N413.41billion worth of Open Market Operation (OMO) in January 2021 compared to N1.54 trillion auctioned in January of 2020. Further findings by Nigerian NewsDirect revealed that, amid weak business activities…
By Kayode Tokede The Central Bank of Nigeria (CBN) on Tuesday disclosed that Non-Performing Loan (NPL) in the banking sector rose to 6.1 per cent in 2020 from 5.88 per cent at end-November 2020. This is above the prudential maximum…
The Central Bank of Nigeria (CBN) on Tuesday announced the appointment of three Pre-shipment Inspection Agents (PIAs) and two Monitoring and Evaluation Agents (MEAs), for the Nigerian non-oil sector. A statement by Dr Ozomena Nnaji, Director, Trade and Exchange Department…
By Kayode Tokede The Central Bank of Nigeria (CBN) has said banks’ Chief Executive Officers (CEOs) are to face not less than three years imprisonment or a fine of not less than N5million or both for personal involvement in any…
The Central Bank of Nigeria (CBN) has advised all Deposit Money Banks (DMBs) accredited Cheque Printers/Personalisers, and the Nigeria Interbank Settlement System (NIBSS), to enlighten their customers on the revised cheque book, introduced across all banks. Director, Banking Services Department,…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that the foreign reserves gained $1.13 billion in 13 days. Our correspondent gathered that the foreign exchange buffer between December 31,2020 to January 21, 2021 moved from $35.37billion to…
