Dr Aniefiok Umoren, Zonal Coordinator, South-South and South-East, Development Finance Activities, Central Bank of Nigeria (CBN), says Small and Medium Scale Enterprises (SMEs) have the potential to reduce unemployment in the country. Umoren who disclosed this in a meeting organised…
By Kayode Tokede Analysts at CSL Research said the Central Bank of Nigeria (CBN) court order that freezes accounts of six online investment firms represents counter-productive economy. A federal high court in Abuja on Tuesday ordered the freezing of the…
By Kayode Tokede The Central Bank of Nigeria (CBN) on Tuesday released a framework to protect Other Financial Institutions (OFIs) against cyber attack. This was contained in a memo by Nkiru Asiegbu, CBN’s Director, Other Financial Institutions Supervision Department, addressed…
The Federal High Court, Abuja has granted the request of the Central Bank of Nigeria to freeze the accounts of some companies allegedly involved in fraudulent financial activities. The request, granted by Justice Ahmed Mohammed, was filed by former Attorney-General…
By Kayode Tokede The Central Bank of Nigeria (CBN) has said it is collaborating with the Nigeria Police and other law enforcement agencies to arrest and prosecute anyone found abusing the Naira. Ag. Director, Corporate Communications, CBN, Osita Nwanisobi, who…
Kayode Tokede with News agency The Deputy Governor, Corporate Services Department of the Central Bank of Nigeria (CBN), Mr Edward Adamu, has attributed the depreciation in the value of the Naira to the effects of the COVID-19 pandemic on the…
A former Governor of the Central Bank of Nigeria (CBN) Sanusi Lamido has again defended calls for the removal of subsidy on petroleum products. He spoke at a colloquium to mark his 60th birthday in Kaduna on Saturday. Sanusi, who…
By Kayode Tokede Amid ease in economy, commercial banks in Nigeria borrowed N9.97trillion from the Central Bank of Nigeria (CBN) between January and July, Nigerian NewsDirect gathered from the apex bank. Nigerian NewsDirect gathered that the ease of COVID-19 lockdown…
By Kayode Tokede The Central Bank of Nigeria (CBN) said the nation’s foreign reserves dropped to $33.58billion as at August 12, 2021. The foreign exchange buffer in August gained $99.9million to $33.58billion from $33.48billion it was early in the month.…
The Central Bank of Nigeria has said it sees the country’s inflation rate dropping to single digit next year, with the full implementation of its recent policies designed to boost different sectors of the economy. The Director of Monetary Policy…
