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All posts tagged "CBN"

  • Rescued Banks Intensify Debt Recovery Drive

    Rescued banks in the country have intensified their debt recovery drive ahead of the June, 2011 recapitalisation deadline that has been fixed by the regulator. Despite the activities of the Assets Management Corporation of Nigeria (AMCON), THISDAY...

    • Posted April 7, 2011
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  • Nigeria targets 5% bad loan ratio for banks

    THE Central Bank of Nigeria (CBN) has said that it would target a non-performing loan ratio of 5 per cent across the banking sector after Asset Management Corporation of Nigeria (AMCON) absorbed lenders’ existing bad loans. AMCON...

    • Posted April 7, 2011
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  • We won’t interfere in banks’ mergers, acquisitions – CBN

    BY Emma Ujah, Abuja Bureau Chief & Regina Otokpa ABUJA — The Central Bank of Nigeria, CBN, said yesterday, that final decisions on Mergers and Acquisition, M&A, of banks rested with shareholders and that it would not...

    • Posted April 6, 2011
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  • Recapitalisation: Afribank signs MoU with private equity group

    The Board of Directors of Afribank Nigeria Plc has signed a Memorandum of Understanding with Vine Capital Partners Limited and Phoenix Acquisition Company Limited in a bid to recapitalise the bank. According to a statement by the...

    • Posted April 6, 2011
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  • AMCON has bought all non-performing loans —CBN

    The Central Bank of Nigeria on Tuesday said that the Asset Management Corporation of Nigeria had bought all non-performing loans in the banking sector. The Director, Banking Supervision, CBN, Mr. Sam Oni, said that the corporation had...

    • Posted April 6, 2011
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  • Bank executives’pay not regulated, says CBN

    The Central Bank of Nigeria (CBN) has said it will not interfere with banks’mechanisms for determining executive compensations despite global demand that financial institutions match directors ’paywith performance. CBN Deputy Governor, Financial Systems Stability, Kingsley Moghalu, who...

    • Posted April 4, 2011
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  • MPR review: Contraction in real sector lending likely – Afrinvest

    The recent upward review on the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN) will have an effect on lending rates with further restrictions to net private sector credit flows, in addition to the...

    • Posted March 30, 2011
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  • Central Bank yet to approve investors for rescued banks

    The Central Bank of Nigeria (CBN) has said that so far, it is has not granted any approval for any bank to sign Memorandum of Understanding (MoU). The regulator, in a statement by its spokesperson, Mohammed Abdullahi,...

    • Posted March 29, 2011
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  • CBN yet to approve MoUs of rescued banks

    LAGOS – TWO years after the Central Bank of Nigeria, CBN, intervened in eight banks, sacked their former managements and installed new ones, Vanguard can authoritatively reveal. This came just as the Central Bank said it has...

    • Posted March 29, 2011
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  • Interest Rate: Increase’ll Cause Manufacturers Intense Pain – OPS

    The Organised Private Sector (OPS) have  said   the  increase in interest rate from 6.5 percent to 7.5 percent by the Central Bank of Nigeria (CBN) would cause manufacturers and industrialists intense pain. Responding to the development, the...

    • Posted March 29, 2011
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