Deeply concerned about recent developments in the foreign exchange market, President Bola Tinubu has approved measures to stabilise and enhance liquidity in the market, including the parallel market. The Acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashodun…
The Central Bank of Nigeria says undocumented diaspora remittance is the reason for the continued fall in Naira in the foreign exchange market. The Acting Governor of the CBN, Folashodun Shonubi, disclosed this recently while delivering a lecture titled “Diaspora…
In view of the rise in illegal sales of forex, the Central Bank of Nigeria (CBN) has threatened to punish erring commercial banks involved in the illegality. The Acting Governor of the Apex Bank, Folashodun Shonubi disclosed this during a…
A financial economist, Prof. Uche Uwaleke, has commended the Central Bank of Nigeria (CBN) for publishing the financial reports of the bank after seven years. Uwaleke, who is a professor of Capital Market at the Nasarawa State University Keffi, gave…
The Central Bank of Nigeria has said the country’s inflation rate is better compared to most African nations. The Acting Governor of the CBN, Folashodun Shonubi, stated this on Tuesday at the 2023 Zenith Bank International Trade Seminar. Shonubi, who…
Some financial experts have urged the federal government to engage a consortium of audit firms to investigate the Central Bank of Nigeria (CBN). They spoke against the backdrop of the appointment of a private investigator, Osayande Obaze, the former Chief…
President Bola Tinubu says his administration has embarked on a comprehensive forensic audit of the Central Bank of Nigeria (CBN) and a thorough overhaul of the Civil Service payroll system. The President disclosed this while speaking with the World Bank…
By Seun Ibiyemi The Nigeria Deposit Insurance Commission (NDIC) has begun the process of payment of depositors in 179 microfinance banks and four primary mortgage banks across the country. This was contained in a statement on the commission’s website where…
Some financial experts have advised the Federal Government to engage a consortium of audit firms to investigate the Central Bank of Nigeria (CBN). The experts spoke with the News Agency of Nigeria (NAN) on Sunday in Abuja. They spoke against…
The Central Bank of Nigeria has exempted Primary Mortgage Banks and Microfinance Banks that provide banking services to the poor from its cash withdrawal limit. It gave this directive in a circular tagged, ‘PSM/DIR/PUB/CIR/001/049,’ released on Monday to banks and…
