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PRESIDENTIAL ORDER ON STOPPING THE ABUSE OF THE NAIRA

Every country in the world has its own legal tender or currency. Here in Nigeria the legal tender or currency is the naira and kobo, which are used to exchange for goods and services. The Central Bank of Nigeria is the apex bank in the country that controls and regulates the printing and circulation of […]

Weekly Economic Index: Oil prices crash to seven-month low

Below is the Ventures Africa Weekly Economic Index, for the week ending 9th of November, 2018. This economic index gives you a glimpse into other recent activities in Nigeria’s economy as well as changes and prices that could affect the economy: Nigerian Stock Exchange Data released by the Nigerian Stock Exchange (NSE), as of 9th […]

Top 7 Social Media Moments of 2018 (Nigeria) – Local

Social media platforms; Twitter, Facebook, Instagram, and Snapchat have been deemed the wildest spots for young Nigerians. Since we sleep on social media, we must have had some wild moments. Here is a list of the wildest moments on Nigerian social media across 2018; ALSO READ: Here is why you should stay off Instagram, Snapchat, […]

CBN Governor Godwin Emefiele rebukes critics at CFA conference

CBN Governor, Godwin Emefiele, fired shots at critics of the apex bank’s policies at the second Nigeria Investment Conference organised by the CFA Nigeria charter. The event which held at the Eko Hotel in Lagos got attendees shocked to the bones as the CBN Governor went on the offensive at critics who have for years criticised his economic […]

Access Bank set to acquire Diamond Bank

Indications emerged that Access Bank is set to add Diamond Bank’s portfolio to its assets in the next  few months. Talks on the acquisition are on, according to sources,  who  said the fusion is set for  the first quarter of next year. According to a report by The Nation, both financial institutions have reached an […]

Making Nonsense of the Monetary Transmission Mechanism, By Uddin Ifeanyi – Premium Times Opinion

…despite the “neutral” tone of the communique from its last meeting, the CBN has tightened domestic monetary conditions since its policy committee since then… While the CBN may, thus, placate sections of the Nigerian public who describe these processes in nationalist terms, it is doing grave damage to the monetary policy transmission mechanism. Ahead of […]

RED ALERT: Technically insolvent Unity Bank has a N242 billion hole 

Tier two lender, Unity Bank Plc recently released a backlog of financial statements dating to the full year ended December 2017. The move took place, the very day trading in the bank’s shares was suspended by the Nigerian Stock Exchange for failing to release them on time. The bank’s latest results contained a lot of […]

Naira Abuse: Offenders to get six months imprisonment- CBN

CBN Governor,Emefiele From Ngozi Onyeakusi, Lagos The Central Bank of Nigeria (CBN) said it has plans to deal with anyone found guilty of abusing the Naira.The Governor of the Central Bank of Nigeria ( CBN) Mr Godwin while speaking at the apex banks special day at the International trade fair in Lagos, said apex bank […]

CBN Reads Riot Act On Currency Mutilation, Records First Arrest — Leadership Newspaper

Currency peddlers as well as those who spray the naira at parties now face certain jail time as the Central Bank of Nigeria (CBN) in collaboration with the Nigerian police and the judiciary have commenced the arrest and trial of offenders. The CBN at the last Bankers’ Committee meeting in Lagos announced that it would […]

I&E Forex Inflow Drops To Year Low At $2.08 In October — Leadership Newspaper

Foreign exchange inflow through the Nigerian Autonomous Foreign Exchange market (NAFEX) also known as the Investors’ and Exporters’ window declined to the lowest since the beginning of this year last month as investors remained cautious ahead of the 2019 elections. Compared to $3.58 billion which flowed in through the window in September, forex inflow through […]

From induced recession to rapid growth — Opinion — The Guardian Nigeria Newspaper – Nigeria and World News

IMF According to the NBS, Nigeria’s GDP grew at 1.95 per cent in the first quarter of 2018 and 1.50 per cent in the second quarter. The low and falling growth rates led the Central Bank of Nigeria (CBN) to chorus the IMF/World Bank’s long held disinformation about the country’s economic vulnerabilities and fragilities posing […]

Heritage Bank complements CBN in agric finance

By Babajide Komolafe AFTER 18 months of steady decline, Nigeria’s inflation rate resumed upward trajectory in August, which persisted in September. The reversal was driven by higher food prices, triggered by shortage of food supply across the country owing to the farmers/herdsmen crisis and recent flooding in some food producing areas. While the authorities are […]

Report Cases of Illegal Charges by Banks, CBN Tells Customers

By Nume Ekeghe The Central Bank of Nigeria (CBN) has advised bank customers to always report cases of exorbitant charges by their financial institutions. The central bank also disclosed that in collaboration with law enforcement agencies, it recently arrested a group of currency mutilation offenders in Ibadan, Oyo State, for abusing the naira. The Director, […]

STABILISING THE NIGERIAN ECONOMY – THISDAYLIVE

Bilikis Abubakar argues that the government deserves a pat for stabilising the foreign exchange market Given what time it is in the nation’s political calendar, it is understood, though unhealthy for the holistic development of the country, when commentators chose to spin narratives negatively for the purpose of politics and not for altruistic or developmental […]