President Bola Ahmed Tinubu has officially closed Jim Obazee’s investigation into operations of the Central Bank of Nigeria, CBN. Tinubu appointed Obazee as a special investigator to probe the CBN and other related entities. His appointment was contained in a…
Credit ratings agency, Agusto and Co. have backed the Central Bank of Nigeria (CBN) on its move to recapitalise Banks in the country. Agusto and Co. stated that the depreciation in the value of the naira coupled with the increase…
The naira is poised to maintain its upward trajectory against the US dollar, propelled by the recent decision of the Central Bank of Nigeria (CBN) to increase interest rates. However, the banking sector may resist a new regulation that excludes…
By Sodiq Adelakun A race for funding has commen-ced among commercial and merchant banks as the Central Bank of Nigeria (CBN) mandates a capitalisation surge, leaving twelve banks grappling with the challenge of utilising approximately N4.8 trillion in retained earnings…
…Says inflationary challenges drive endorsement of bank recapitalisation … Non-Performing loans remain below threshold, reflecting positive bank performance — CBN …Expresses concern over high interest rate spreads in Nigerian banking system By Sodiq Adelakun The Centre for the Promotion of…
The founder of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has said the upward adjustment of capital requirements for banks will improve their ability to manage risks and withstand economic shocks. Yusuf said this in…
The Central Bank of Nigeria (CBN) is focused on achieving the ambitious goal of Nigeria’s economy attaining Gross Domestic Product (GDP) of $1 trillion by 2030 as set by President Bola Ahmed Tinubu in his Policy Advisory Council report on…
…Nigeria implements key reforms to stabilise FX marke By Sodiq Adelakun Naira has continued in its upward trajectory, appreciating against the US dollar as it is currently selling at N1,280 on the parallel market, buoyed by recent foreign exchange (FX)…
The Central Bank of Nigeria has issued a new directive on the recapitalisation of the capital base of banks in the country raising the minimum capital base eightfold from the previous N25 billion. The move had been in the pipeline…
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has raised apprehensions regarding the Central Bank of Nigeria’s decision to increase the Monetary Policy Rate (MPR) to 24.75 percent. The association, represented by its president, Dele Oye,…
