Banking System Remains Resilient – CBN
The Central Bank of Nigeria (CBN) has disclosed in its statements on monetary policies that as at the end of 2022 the banking system has continued to be resilient with major financial soundness. The CBN Governor, Godwin Emefiele noted that there was noticeable growth caused by the substantial overshoot of
CBN raises lending rate to 16.5 per cent to end inflation
The Central Bank of Nigeria, CBN has raised its lending rate to 16.5 per cent in a bullish move to stymie rising inflation and pressure on the naira, the country’s currency. The governor of the Central Bank of Nigeria CBN, Godwin Emefiele made this disclosure on Tuesday at the end
CBN agric guarantee hits N131b
The Central Bank of Nigeria (CBN) has guaranteed the sum of N130. 90 billion loan to farmers under the Agricultural Credit Guarantee Scheme Fund (ACGSF) between its inception in 1977 and May, this year. The Chairman of the Board of the ACGSF, Mr. Stephen Okon, gave the update at the
SAN challenges CBN over dollar trading in Nigeria
A Senior Advocate of Nigeria, Femi Falana, has challenged the Central Bank of Nigeria on why people in the country were still trading in foreign currencies in the country despite the fact that the apex bank has declared it illegal. Falana in a letter to the CBN demanded information
Why CBN can’t float exchange rate –Emefiele
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that despite calls and recommendations by the International Monetary Fund, the World Bank and other global financial institutions, Nigeria cannot afford to operate a floated exchange rate system. Emefiele made this known at the IMF/World Bank Spring Meetings
Fire guts Central Bank of Nigeria branch in Benue
The Makurdi branch of the Central Bank of Nigeria (CBN) in Benue State has been gutted by fire. The branch is situated in the Old GRA area of the Benue State capital. The fire, which reportedly started from the fuel dome of the bank, quickly became ferocious thus drawing
CBN warns Nigerians against unlicensed investors
By Dooshima Fidelis The Central Bank of Nigeria (CBN) has advised Nigerians to shun unlicensed financial operators offering mouthwatering returns on investments. On Monday, the CBN, through its Financial Services Regulation Coordinating Committee (FSRCC), advised Nigerians to stop dealing with such firms. It noted that many Nigerians have fallen victims
Food Security: CBN releases N756 billion to 3 million Farmers
The Central Bank of Nigeria (CBN), says it has released the sum of N756.51 billion to 3,734,938 small holder farmers, cultivating 4.6 million hectares of land, to boost the Federal Government’s food security initiative. Mr Godwin Emefiele, the CBN Governor, made this known while presenting a communiqué from the bank’s