The Manufacturers Association of Nigeria (MAN) has raised the alarm that the Central Bank of Nigeria’s (CBN) decision to remove the ban on 43 items on foreign exchange restriction, will lead to a looming job crisis, insecurity, and outright collapse of the nation’s economy.
Browsing: CBN
ASHENEWS reports that the Central Bank of Nigeria (CBN) says that the restriction placed on the importers of 43 items to purchase foreign exchange in the Nigerian FX market in 2015 has been lifted.
Nigeria’s leading commercial banks suffered loan losses estimated at a combined $1 billion in the first half of 2023.
The former governor of the Central Bank of Nigeria (CBN), and 14th Emir of Kano, Muhammadu Sanusi, has said that the administration of the former President Muhammadu Buhari led false life, and borrowing from every jook and cranny.
The House of Representatives ad-hoc committee probing the alleged non-remittance and utilization of National Housing Fund from 2011 till date, has summoned the Accountant-General of the Federation (AGF), Oluwatoyin Madein.
The Department of State Services (DSS) has arrested the Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, (NIRSAL), Abbas Umar Masanawa.
The big issue, Prof. Ekekwe lamented, was the borrowing of “$billions from US banks, and securing/collateralizing the loans with the national foreign reserves or other asset classes, without informing the Nigerian people and the National Assembly.”
A financial economist, Prof. Uche Uwaleke, has commended the Central Bank of Nigeria (CBN) for publishing the financial reports of the bank after seven years.
The 2022 annual report of the Central Bank of Nigeria (CBN) has revealed that the apex bank spent N155.5 billion on the RT 200 and Naira4Dollar schemes in a bid to drive foreign exchange inflows.
Nigerian President Bola Tinubu has appointed the Chief Executive Officer, Financial Reporting Council of Nigeria (FRCN), Jim Osayande Obazee, as a Special Investigator to probe the Central Bank of Nigeria (CBN) and related entities.