By Sodiq Adelakun The Nigerian Senate has increased the borrowing limit for the Federal Government from the Central Bank of Nigeria (CBN). The implementation year for the 2022 Supplementary Appropriation Act was extended. The Senate held an emergency session ahead…
Senate has passed a bill seeking to amend the Central Bank of Nigeria (CBN) Act to increase its advances to the Federal Government from five per cent to maximum of 15 per cent. The passage of the bill, followed its…
Omolola Dede Adeyanju The Monetary Policy Committee of the Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR) to 18.5 per cent in May 2023 from 18 per cent that was fixed at the 290th meeting of the…
…Nigeria’s GDP growth slows to 2.31% in Q1 2023, NBS blames Naira scarcity By Seun Ibiyemi The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 18.5 per cent from…
The Central Bank of Nigeria (CBN) has revoked the operating licenses of 132 microfinance banks in the country, alongside those of four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government,…
By Sodiq Adelakun The Central Bank of Nigeria has approved four local firms to print cheques in the country, according to a new circular. The circular, which was signed by the Director of the Banking Services Department, Sam Okojere, showed…
In the spare of hike in borrowed costs, personal loans declined to N1.75trillion in the fourth quarter of 2022 from N1.85trillion in the previous quarter, according to the Central Bank of Nigeria (CBN). The CBN, in its economic report for…
The Central Bank of Nigeria (CBN) has partnered with Benson Idahosa University, Benin, Edo State, to deepen adoption of eNaira as a payment system and medium of exchange. Branch Controller, CBN, Benin, Michael Mbeze, stated this during a three-day training…
By Seun Ibiyemi The Senate, on Wednesday, urged the Central Bank of Nigeria (CBN) to release $717,478,606 airlines funds trapped in the country. The upper chamber also called on the CBN to allocate $25million to airlines operating in Nigeria at…
Recently, the Central Bank of Nigeria (CBN) gave banks and other financial institutions a 30-day timeline to close accounts without Bank Verification (BVN) which is a good omen to end the incessant diversion of funds by public Officers and government…
