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By Babajide Komolafe IN obvious bid to deal with the rising incidence of mutilated notes across the nation, the Central Bank of Nigeria, CBN, has decreased the sum of money it expenses banks for sorting mutilated naira notes from clear ones to N1,000 per field from N12,000 per box. The discount is, nevertheless, restricted to lower […]

Mutilated notes: CBN reduces currency sorting charges to N1,000/box

By Babajide Komolafe IN apparent bid to address the rising incidence of mutilated notes across the country, the Central Bank of Nigeria, CBN, has reduced the amount of money it charges banks for sorting mutilated naira notes from clean ones to N1,000 per box from N12,000 per box. The reduction is, however, limited to lower denomination […]

Eurobond: Nigeria external reserves to hit 54 months high of $45bn

Statutory allocation funds to lower cost of funds By Babajide Komolafe NIGERIA’s external reserves will  rise to 54 months high of $45 billion this month following the conclusion of federal government’s $2.5 billion Eurobond this week. The Eurobond, which commenced last week with the announcement of its pricing on Thursday, will be concluded on Friday. According […]

CBN bars banks with huge bad loans from paying dividends |

The Central Bank of Nigeria has stopped the payment of dividends to shareholders by Deposit Money Banks and discount houses with huge bad loans and low capital base. This is due to the rising non-performing loans and the need to stop further erosion of the capital base of the banks and discount houses. The directive […]

Food Inflationary Pressure Eases | THISDAYLIVE

MARKET INDICATOR  By Obinna Chima The National Bureau of statistics’ (NBS) inflation figures released last week revealed that the Consumer Price Index (CPI) was up 15.13 per cent year-on-year in January 2018, 0.24 per cent lower than the rate recorded inDecember 2017 of 15.37 per cent.  As of January 2017, inflation figure was 18.7 per cent. To analysts at Lagos-based CSL Securities Limited, inflation will decline over the course of 2018 but only […]

Only Five Big Banks’ CAR May Withstand Naira Depreciation – Report

Lagos – In the event that the Naira depreciates to $/N450 in the foreign exchange market, it has been observed that the bigger banks in the country may withstand the scenario without impairment on their capital adequacy requirements. Big banks like Access Bank, FBN Holdings, Guaranty Trust Bank, United Bank for Africa and Zenith Bank would […]

Alternative Payment Channels To End Naira’s Mutilation – Stakeholders

Stakeholders in the financial sector have canvassed, among others, the use of alternative payment channels as a way out of getting rid of cases of mutilated Naira notes in the country. Bamidele Ogunwusi, reports on what are needed to eradicate the menace. There is no doubt that the Naira, the nation’s legal tender, is gradually […]

Nigeria: Why Nigerians Are Reluctant to Pay for Electricity

By Obinna Chima Nigerians are not willing to pay estimated electricity bills by the power distributing companies (discos) because they do not trust the estimates. This formed part of the findings by Renaissance Capital, in a report on their visit to Nigeria’s policy makers and development finance institutions in Abuja earlier this month. According to […]

New forex policy in nigeria

New forex policy in nigeria GO TO PAGE Вернем Ваши средства из Брокера! – Помощь Специалистов! The Central Bank of Nigeria (CBN) had, during its last Monetary Policy Committee (MPC) meeting held on the 23rd and 24th of May 2016, announced an imminent departure GO TO PAGE Expert lauds new Forex policy – News Agency […]

Why we ‘re focusing on external borrowing — Oniha, DMO boss

By Emma Ujah, Abuja Bureau Chief Some critics of the Buhari administration have expressed concerns over the growing debt of the Federal Government, especially the part incurred through foreign loans. However, in this interview, the Director-General of the Debt Management Office, Patience Oniha, explains that strategies have been put in place to avoid a repeat […]

Nigeria: With Foreign Reserves Rising 86 Percent in 17 Months, Analysts Credit CBN’s Fx Policy, Oil Prices

By Kunle Aderinokun and Bamidele Famoofo In 17 months, Nigeria’s foreign reserves have recorded $19.8billion increase from $23billion in October 2016 to $42.8billion on February 13, 2018, representing some 86 per cent growth. The Central Bank of Nigeria (CBN) had announced on January 5, 2018 that the nation’s external reserves recorded its highest growth in […]

With Foreign Reserves Rising 86% in 17 Months, Analysts Credit CBN’s FX Policy, Oil Prices

Kunle Aderinokun and Bamidele Famoofo In 17 months, Nigeria’s foreign reserves have recorded $19.8billion increase from $23billion in October 2016 to $42.8billion on February 13, 2018, representing some 86 per cent growth. The Central Bank of Nigeria (CBN) had announced on January 5, 2018 that the nation’s external reserves recorded its highest growth in four […]

CBN Launches Uniform Mortgage Underwriting Standards for Informal Sector

The CBN governor, Mr. Godwin Emefiele By Bennett Oghifo T he Central Bank of Nigeria, during the week, launched a uniform system for use by all accredited Primary Mortgage Banks to provide loans for people in the informal sector of the economy.The system, known as Uniform Mortgage Underwriting Standards, was launched during a two-day meeting […]

Dollar to Naira black market rate today Thursday, 16th February 2018

Dollar to Naira black market rate today Thursday, 16th February 2018  Naira ends week on stable note Dollar to Naira black market rate today Thursday, 16th February 2018 is N360/N363.  The Exchange rate of dollar to naira has seen the NGN Naira have mixed fortunes against the USD Dollars during the course of last year. At a point last […]