The Central Bank of Nigeria (CBN), has released a new framework to check cybersecurity in Other Finical Institutions (OFIs). This is contained in a statement issued by the Director, OFIs, CBN, Nkiru Asiegbu. Asiegbu said that the framework was informed by the recent increase in the number and sophistication of cybersecurity threats against financial institutions, […]
The Association of Ex-staff of Non-Consolidated Banks of Nigeria has appealed to the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to obey court ruling and settle them of their entitlements without delay. Mr Magnus Maduka, Chairman of the association, made the appeal at a news conference on Friday in Lagos. […]
The Central Bank of Nigeria (CBN) has urged Nigerians to embrace its intervention programmes to promote financial stability and economic development. The CBN Director of Corporate Communications, Mr Osita Nwanisiobi, said this at the opening session of a two- day fair organised on Wednesday in Owerri by the apex bank. Nwanisiobi, represented by the Deputy […]
The Central Bank of Nigeria (CBN) has disclosed that the federal government recorded a N2.23 trillion fiscal deficit in the fourth quarter (Q4) of 2021. This was contained in the apex bank’s economic report for the fourth quarter of 2021. A fiscal deficit is a shortfall in a government’s income compared with its spending. By […]
The Central Bank of Nigeria (CBN), has warned Deposit Money Banks (DMBs) to stop bringing “composed banknotes ” as part of their deposits with the apex bank. The warning is contained in a circular issued in Abuja by Ahmed Umar, the Director, Currency Operations Department of CBN, which he said took effect from April 1. […]
A support group of the Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele has raised the sum of N67 million to obtain the Expression of Interest and Presidential Nomination Form of the ruling All Progressives Congress, APC, for him. The group, operating under the aegis of Emefiele Support Group, ESG, which said […]
The Central Bank of Nigeria (CBN) says it has disbursed N948 billion to 4,478,381 smallholder farmers, to upscale food production in the country. The CBN Governor, Mr. Godwin Emefiele disclosed this in Ado-Ekiti while delivering the 25th and 26th combined convocation lecture of the Ekiti State University (EKSU), on Monday in Ado-Ekiti, Ekiti State. He […]
The Senate at the Wednesday plenary confirmed the nomination of seven members of the Monetary Policy Committee of the Central Bank of Nigeria (CBN). The confirmation of the nominees followed the consideration of a report of the Committee on Banking, Insurance and Other Financial Institutions. The report was presented by the Chairman of the committee, […]
The House of Representatives has urged the Central Bank of Nigeria (CBN) to reinforce the use of coins as legal tender in the country.The resolution followed the adoption of a motion by Rep. Muda Umar (APC-Bauchi) at the plenary on Tuesday.Umar in his motion said that the former CBN Governor, Sanusi Lamido Sanusi, had on […]
Intervention Loans The Central Bank of Nigeria (CBN) has cut interest rates on all intervention loans from nine to five percent per annum. The Nation reports that this would allow banks to restructure loans given to sectors severely affected by the Covid-19 pandemic and strengthen the Loan to Deposit Ratio (LDR) policy, which has resulted […]
