The Central Bank of Nigeria (CBN) says it has no be plans to redenominate Nigeria’s legal tender, the Naira.
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A Federal High Court (FHC), Abuja, on Monday, ordered the Economic and Financial Crimes Commission (EFCC) and Central Bank of Nigeria (CBN) to immediately transfer the sums of $9.8 million and £74,000 recovered from Mr Andrew Yakubu, former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) to an account under the control of the chief registrar of the court.
Some stakeholders have urged the Central Bank of Nigeria (CBN) to exercise caution in its reversal of certain monetary policy decisions.
The House of Representatives has resolved to invite the Governor of the Central Bank of Nigeria (CBN) over the bank’s decision to lift the restriction on forex supply on 43 imported items.
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.
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.