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…
…Says It’s Height of Impunity The Peoples Democratic Party (PDP) demands the immediate resignation and investigation of the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, following his appearance in All Progressives Congress (APC) campaign posters which confirms his partisan affiliation and entanglement with the APC. The PDP asserts that the appearance of…
Following speculations on the possibility that the governor of central Bank of Nigeria Godwin Emefiele wants to run for the presidency come 2023, the Human & Environmental Development Agenda (HEDA Resource Centre) has given the CBN governor a 14 day ultimatum to resign from his position and pursue his Political ambition (if he is interested)…
The Central Bank of Nigeria has said that the banking sector will increase access to loans for Nigerian households and businesses in 2022. This was disclosed by Governor of the Central Bank of Nigeria, Godwin Emefiele, in a statement. He stressed the need for all stakeholders to work to build a more resilient economy that…
Deposit money banks have witnessed an increase in foreign exchange demand due to the central bank’s ban of forex sale to Bureaux De Change (BDCs). This was disclosed by CBN deputy governor, Adamu Edward Lametek in his statement at the last Monetary Policy meeting. He stated that the naira exchange rate has remained stable since…
