Manufacturing companies have said they cannot access loans at the Central Bank of Nigeria’s five per cent lending rate under its intervention scheme for manufacturing and other critical sectors. According to them, the loans have structural framework problems and are…
The Central Bank of Nigeria (CBN) has called for a collective action to live in harmony with nature. The apex bank, which said this in a statement on Monday, on the occasion of World Environment Day (WED), called for global…
President, the Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe has urged the Central Bank of Nigeria (CBN) to use Bureaux De Change (BDCs) as tool in ending multiple rate practices, and ushering in stability in…
The Central Bank of Nigeria, CBN, has ordered banks to collect indemnities from their customers for highly secured online funds transfer amounting to N1million and above for individual customers and N10 million for corporate customers. However, the apex bank placed…
The management of Eko Distribution Company, EKEDC, said it is judiciously expending funds meant for asset upgrade especially in the areas of infrastructure such as 11kv and 33kv feeders, and switchgear, to assist the DisCo in delivering adequate and reliable…
The Central Bank of Nigeria (CBN) has urged Nigerian banks to support indigenous companies in order to increase foreign exchange inflows and boost economic growth. A CBN team on inspection of projects funded through Deposit Money Banks in Lagos, gave…
The Central Bank of Nigeria (CBN) has assured Ikeja Electricity Distribution Company (IKEDC) that it would provide funds for the Phase One of its metering project. The Director of Development Finance, CBN, Yila Yusuf, who gave the assurance during a…
The Central Bank of Nigeria injected $3.36bn into the foreign exchange market in two months as part of efforts to ensure the stability of the naira. Figures obtained from the CBN’s January monthly report on ‘Foreign Exchange Market Developments’ showed…
The Central Bank of Nigeria (CBN) has urged Nigerian banks to support indigenous companies in order to increase foreign exchange inflows and boost economic growth. A CBN team on inspection of projects funded through Deposit Money Banks in Lagos, gave…
The Central Bank of Nigeria’s (CBN) Treasury Bills for a 1-year tenor worth N143.88 billion, which was auctioned on Wednesday, 25th of May 2022, accumulated a total subscription of N210.82 billion, representing 147 per cent of the intended capital raise.…
