The Central Bank of Nigeria (CBN) says it has released 500 million dollars to various sectors in its determination to address the backlog of verified foreign exchange transactions.
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Nigeria is a country of one week, one issue; but insecurity, spreading over the nation like a cancer in a diseased body, remains constant. However, in some ways, a nation’s behaviour tends to reflect that of its leader’s character.
In 2001, during my postgraduate program in Montpellier, South France, one of the most observable features of banks in France was the sparse population in banking halls. You can hardly see ten people in the banking halls, comprising bank workers and customers. The only reason for a customer to be in the banking hall is to open a new account or negotiate a loan, not to withdraw cash or make a deposit. ATMs perfectly serve these functions. Even when you need a bank statement, a printing machine is poised at the gate for the customer’s self-service. Then, banking operations in France were about 70% digital. I am happy today in Nigeria; we are almost reaching where developed countries like France were over twenty years ago in banking operations. The advent of ICT has globalized all developmental sectors and made banking services effective, efficient, and timely. Nigeria has the potential and wherewithal to be on par with any nation in ICT and innovative technologies for the nation’s development. However, we still face poor infrastructure, human resistance against change, sabotage by the beneficiaries of the old order, and other mundane and archaic reasons to slow down progress. The plan to relocate the Central Bank of Nigeria from Abuja to Lagos can be viewed within this context.
The Senate Committee Chairman on the Army, Ali Ndume has warned President Bola Tinubu that relocating some departments of the Central Bank of Nigeria (CBN) and the Federal Airports Authority of Nigeria (FAAN) headquarters to Lagos, will have political implication.
The destabilizization agenda of the North can be traced back to the failed coup attempts of the First Republic. Lieutenant Colonel Bukar Suka Dimka, a northerner from Plateau state, initiated the northern chapter of the plot by assassinating the then Head of State, General Murtala Mohammed. Another northern military officer, Gideon Okar from Benue, further revealed the agenda by announcing the purported excision of Northern Nigeria from the rest of the country.
The Central Bank of Nigeria (CBN) says it has paid approximately two billion dollars in its bid to clear the backlog of outstanding foreign exchange liabilities across various sectors.
ASHENEWS reports that a Nigerian activist, Deji Adeyanju, has alleged that the Nigerian National Petroleum Company Limited (NNPCL), and the Central Bank of Nigeria (CBN) are guilty of transferring money into private accounts.
The Central Bank of Nigeria (CBN) has concluded plans to fully relocate major departments from Abuja to the former Lagos headquarters.
The Central Bank of Nigeria (CBN), has appointed new executives for Keystone, Polaris and Union Banks, following dissolution of the board and management of the banks on Wednesday.
The Central Bank of Nigeria (CBN) has sacked the boards of directors of Union Bank, Polaris Bank, Keystone Bank, and Titan Trust Bank, a statement by the acting Director of Corporate Communications, Sidi Ali has said.