Reviews

Breaking: Court directs CBN to pay N8bn to Benue communities over soldiers invasion

By Nwafor Sunday The Central bank of Nigeria, CBN, has been ordered by a Federal high court to pay the sum of eight billion naira (N8bn), to some Tiv communities in Ukum, Logo, Kwande and Katsina-Ala Local Government Areas of Benue State for the loss of lives and properties the communities suffered during the invasions […]

FOREX ban on food importation will not affect AfCFTA – Emefiele

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN). The Governor of the Central Bank of Nigeria (CBN), Mr. Gowdin Emefiele has dismissed reports that the planned FOREX restrictions on food items import in Nigeria will further dampen the country’s chances of benefitting from the recently signed African Continental Free Trade Agreement (AfCFTA). The […]

Nigerian insurers may lose $6.8 billion of Dangote Refinery’s underwriting business

Dangote Refinery Atmospheric tower Dangote Refinery, which has insured value estimated at $6.8 billion, is likely to be taken over by foreign insurers when it becomes operational. Local insurers may also lose an additional $8 billion energy insurance business from energy companies to foreign insurers. The reason: The projected loss is as a result of […]

Nigeria c.bank to defend reserves in wake of UK $9 bln court ruling

ABUJA (Reuters) – Nigeria’s central bank will strive to protect the country’s currency reserves after a British court ruling granted a small natural gas firm the right to try to seize $9 billion in assets from Nigeria’s government, the bank’s head said on Monday. Nigeria’s Central Bank Governor Godwin Emefiele speaks during the monthly Monetary […]

FG has vowed to deny more items from forex – CBN ▷ Nigeria news

– The federal government has said that more items will soon be denied foreign exchange from local institutions – Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), on Monday, August 18, said that the move will affect the Nigerian banking industry – Emefiele said that the federal government cannot waste foreign exchange […]

Nigerian dealers seek 1-year T-bills at 14% as naira weakens -traders – Similar News

Nigerian dealers seek 1-year T-bills at 14% as naira weakens -traders – Similar News | noovell Nigerian dealers seek 1-year T-bills at 14% as naira weakens -traders – Related articles from other sources More news

Nigerian banks lose assets worth N1.1 trillion in compliance to IFRS 9

THE banking industry lost N1.1 trillion in total assets as a result of compliance with the requirements of the International Financial Reporting Standard (IFRS) 9 on recognition of bad loans. Traders Support Facility, Bank, CBN, Fidelity Bank, Flex account Bank NAICOM boss calls for reform of insurance industry Among others, IFRS 9 mandates that banks […]

CBN Governor finally breaks silence on FOREX restrictions for food imports

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN). The Central Bank of Nigeria (CBN) governor, Mr. Godwin Emefiele, has finally responded to the President’s pronouncement on foreign exchange (FOREX) restriction for food importation, stating that more items will be banned to save FOREX. While speaking with State House correspondents at the retreat for […]

Inflation falls to 43-month low

Dr Yemi Kale, Statistician-General of the Federation and CEO of NBS According to the inflation report released by the National Bureau of Statistics (NBS),headline inflation extended its downtrend to the second consecutive month, as it declinedby 14bps to 11.08% y/y in July (June; 11.22%). July’s inflation is the lowest since January2016 when the Consumer Price […]

CBN keeps mum as Presidency breaks silence on restricting FOREX for food importation

Almost a week after the President’s directive to the Central Bank of Nigeria (CBN) on the restriction of foreign exchange (FOREX) on food importation, the federal government has shed more light into the policy. According to the statement credited to the Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, on Sunday, “food importation […]

5 things Buhari’s new Finance Minister must do within 100 days

Nigeria’s President Muhammadu Buhari will likely assign portfolios to ministers this week. Among the most anticipated appointments will be the office of the Minister of Finance. In Nigeria, the Minister of Finance oversees setting and implementing the economic policies of the government. Under Buharinomics, this portfolio has been characterized by controversies and (perhaps this sounds harsh) incompetence. Whomever President Buhari decides to […]

Banks’ borrowings from CBN to hit N23tr by year end ▷ Nigeria News Update

By Babajide Komolafe THERE are indications that banks borrowing from the Central Bank of Nigeria, CBN, may hit N23.7 trillion this year, with interest payment of N15 billion going by the current thrust and impacts of the CBN monetary measures. This represents 109 percent and 86 percent increases against the N11.33 trillion and N8.4 billion […]

You’re on your own, experts tell Buhari, warn against executive recklessness  – The Sun Nigeria

Uche Usim, Abuja “Don’t give a cent to anybody to import food into the country. Foreign reserve will be conserved and utilized strictly for diversification of the economy, and not for encouraging more dependence on foreign food imports bills”, this was the instruction of President Muhammadu Buhari to the Central Bank of Nigeria (CBN) Governor, […]

Banks’ borrowings from CBN to hit N23tr by year end

By Babajide Komolafe THERE are indications that banks borrowing from the Central Bank of Nigeria, CBN, may hit N23.7 trillion this year, with interest payment of N15 billion going by the current thrust and impacts of the CBN monetary measures. This represents 109 percent and 86 percent increases against the N11.33 trillion and N8.4 billion […]