The Board of Directors of First City Monument Bank Limited (the Bank) has announced the appointment of Mrs. Oluwatoyin Olaiya as Executive Director, Risk & Compliance. This follows the approval of the Central Bank of Nigeria (CBN). Mrs. Olaiya is…
By Kayode Tokede The Central Bank of Nigeria (CBN), under the Anchor Borrowers’ Programme (ABP), has approved the release of 50,000 metric tonnes of maize to 12 major producers, from the strategic maize reserve (SMR). The apex bank said that…
…borrowing increased by 183% in six months By Kayode Tokede Banks and merchant banks have intensified borrowing from Central Bank of Nigeria (CBN) amid liquidity challenging facing the nation’s economy, Nigerian NewsDirect can report. Our correspondent also gathered that the…
The manufacturing sector recorded marginal growth as the Purchasing Managers’ Index (CPI) rose to 49.0 index points in April from 48.8 index points in March. The Central Bank of Nigeria (CBN) disclosed this in a report by the Monetary Policy…
The Central Bank of Nigeria (CBN) said the country’s foreign reserves sustained its decline, dipping $215.62 million in its week-on-week (w/w) performance to $33.55 billion as at June 24, 2021 Analysts attributed the decline in foreign reserves to CBN intervention…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that currency in circulation dropped by 0.2 per cent to N2.79trillion in May from N2.79 trillion reported in April 2021. Analysts stated that CBN currency mop-up contributed to dwindling…
To reduce the hike in the prices of rice in the country, the Central Bank of Nigeria (CBN) and the Rice Farmers Association of Nigeria (RIFAN) planned to distribute 27,000 metric tonnes of rice paddies directly to millers nationwide. With…
By Kayode Tokede The Central Bank of Nigeria (CBN) said it will sell N722 billion worth of Treasury Bills (TBs) in the third quarter of 2021 (Q3’21). The apex bank disclosed this in its Nigeria Treasury Bills Issue Programme for…
By Kayode Tokede The Central Bank of Nigeria (CBN) has granted a non-interest banking licence to Lotus Bank Limited. This follows Lotus Bank’s plan to deliver an alternative option to interest-based banking and cater to the needs of the banked,…
By Kayode Tokede The Central Bank of Nigeria (CBN) has said the nation’s foreign reserves dropped by $424.8million in 10 days to $33.79 billion as at June 17, 2021 from $34.22billion it commenced in June. Nigeria’s foreign exchange buffer $33.79…
