The Governor of the Central Bank of Nigeria, Olayemi Cardoso during a recent meeting with maritime journalist highlighted the gains of the Nigeria-China Currency Swap Deal. represented by his Special Adviser; Mr. Anthony Ogufere, the CBN Governor reeled out challenges that have inhibited the deal. TOLA ADENUBI reports. Can you explain the importance of today’s…
●Questions whereabout of much, non-existing Reinstatement Order ● As commercial Banks Rebuff Attempts to Freeze LG Accounts Attempts by the court-sacked Yes/No Chairmen to hoodwink the Central Bank of Nigeria to open council accounts and get the apex bank to lodge council funds has failed. Further push by the impostors across the council secretariats to…
The Nigerian electricity sector slowed in the fourth quarter of 2024, with the electricity production index declining by 1.64% year-on-year. Data from the Central Bank of Nigeria says this marks a reversal from the 5.55% growth recorded in the third quarter of 2024 (Q3 2024). Average estimated electricity generation, according to a Channels TV report…
The Senate on Tuesday officially confirmed the appointment of Professor Melvin D. Ayogu as a member of the Central Bank of Nigeria Board of Directors. Ayogu, an indigene of Enugu State, is a Professor of Economics at the University of Cape Town, South Africa. The appointment was approved following the presentation and subsequent review by…
The Abuja Chamber of Commerce and Industry (ACCI) has commended the Central Bank of Nigeria’s (CBN) forex policy to unify the foreign exchange saying it is a welcomed development and a big step towards improving the ease of doing business in Nigeria. Speaking on the new policy, the President of ACCI, Dr Al-Mujtaba Abubakar stated…
Abuja Chamber of Commerce and Industry (ACCI) has reacted cautiously to the recent new policy on cash withdrawal limits announced by the Central Bank of Nigeria, raising posers on impact on cost of doing business and ease of doing business.“We have perused the policy guidelines and we first commend the CBN for constantly innovating to…
Following the recent announcement by the Central bank of Nigeria (CBN) on the redesigning of the country’s currency, there have been various reactions from experts on the policy. While some experts agree with the Central Bank’s strategic objectives for the exercise, others differ. The President of Abuja Chamber of Commerce and Industry (ACCI), Dr Al-Mujtaba…
The Central Bank of Nigeria (CBN), in line with its mandate to promote stability, inclusion and growth in the financial and payment system, has announced the introduction of a National Domestic Card Scheme effective January 16, 2023. The statement from the apex bank reads as follows: “Nigeria is Africa’s largest and most vibrant economy and…
The Nigerian Economic Zones Association (NEZ Association) has denied news reports credited to Hon Oluwole Oke over purported recovery of N17billion from companies operating in the Nigerian economic zones, describing the reports as ” falsehood mixed with ignorance”. The Chairman of the House of Representatives Public Accounts Committee, Hon Oluwole Oke was quoted by some…
THE Kano Electricity Distribution Company (KEDCO) Managing Director ,Dr. Jamilu Isyaku Gwamna has commended the Central Bank of Nigeria ( C B N)for its intervention equipment worth over N9 billion provided to the company, saying the equipment will boost power supply ,as well enhancing efficiency and effectiveness of the corporation. He noted that with these gigantic…
