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…
The Central Bank of Nigeria (CBN) has vowed to sanction international money transfer operators (IMTOs) that are still, despite its directive, paying remittances in the local currency, naira. The bank had in December 2020 directed that IMTOs and commercial banks…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disbursed N14.35 billion to electricity distribution companies (DisCos) to procure 263,860 meters for electricity consumers in the country. This was disclosed on Thursday, via the official twitter handle of the…
By Kayode Tokede Naira traded flat at N379 against the dollar at the interbank market of the Central Bank of Nigeria (CBN) on Tuesday. However, the local currency at the Investors & Exporters Foreign Exchange (I & EFX) window, the…
By Kayode Tokede About 300,000 metric tonnes of maize are soon to be released into the Nigerian market from strategic anchors under the Anchor Borrowers’ Programme (ABP) of the Central Bank of Nigeria (CBN), which watchers believe will reduce the…
