The Central Bank of Nigeria (CBN) says it sold $543.5 million to authorised dealer banks between September 6 and 30.…
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The Central Bank of Nigeria (CBN), says it is partnering with Microfinance Banks (MFBs), to enhance financial inclusion to stimulate growth of Micro, Small and Medium Enterprises (MSMEs) in the country.
He clarified that Sanusi was not sacked but suspended due to infractions in the CBN’s financial reporting:
“He was suspended because the Financial Reporting Council queried the expenditure of the CBN. There were serious infractions that needed to be looked at. That was the reason, but somehow, the time was short. So before we finished, his tenure elapsed. Probably, he would have been called back.”
The Central Bank of Nigeria (CBN) says the lifting of petroleum products from Lagos-based Dangote Refinery will moderate the cost of transportation and ease food inflation.
According to sources, Cardoso procured two additional SUVs for use in Lagos and Abuja, despite the availability of armored vehicles in the existing convoy. Furthermore, about 20 new Toyota Camry cars were allegedly purchased for CBN management and board members at a rate of N85 million each. Reports also indicate that the governor and his deputies have significantly increased their annual housing allowances to nearly N1 billion, despite residing in official residences in Abuja’s Maitama district.
The Central Bank of Nigeria (CBN) reported a significant increase in remittance inflows, reaching $553 million in July 2024—a 130% increase from the same period in 2023.
“The merger is contingent upon the financial support from the CBN. The fund will be instrumental in addressing Unity Bank’s total obligations to the Central Bank and other stakeholders.
“In any case, if the Dangote refinery is unable to meet local demand, the gap can be filled by imports, these people in NNPC do not want to end their lucrative subsidy scam, and I don’t think they will end it.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday raised the country’s baseline interest rate by another 50 basis points to 26.75 per cent.
The Monetary Policy Committee (MPC), on Tuesday announced another increase in the country’s Monetary Policy Rate (MPR), known as the baseline interest rate, to 26.75 per cent from 26.25 per cent.