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All posts tagged "CBN"

  • AMCON extends repayment period for N1.5trillion debt

    The Asset Management Corporation of Nigeria has restructured a total of N1.5tn loans as part of efforts to recover debts owed it by corporate organisations, our correspondent has gathered. The amount represents an increase of N500bn and...

    • Posted February 20, 2013
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  • Banks, customers disagree on CBN’s bank account categorisation policy

    Bank customers have questioned the rationale behind the new policy of the Central Bank of Nigeria (CBN) on categorisation of bank accounts, saying it is counter-productive with respect to its cashless initiative. The CBN policy categorised bank...

    • Posted February 11, 2013
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  • CBN to resolve grey areas with Micro Finance Banks

    The Central Bank of Nigeria and the National Association of Micro Finance Banks have agreed to set up a technical committee to resolve “Grey Areas’’ in the recapitalisation of micro finance banks. The national president of National...

    • Posted February 8, 2013
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  • CBN Disburses N181bn Power, Airline Intervention Fund

    The Central Bank of Nigeria (CBN) said it has disbursed a total of N181.42 billion under its Power and Airline Intervention Fund (PAIF), as at December 31, 2012. The banking sector regulator disclosed this in a chart...

    • Posted February 7, 2013
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  • Faulty credit system is killing SMEs, local manufacturers – Okeke

    Over the years, investigation had revealed that apart from the epileptic power supply that has affected business operations at every level in this country, poor credit facility has been a major challenge of local manufacturers. In this...

    • Posted February 2, 2013
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  • Capital Requirement: MFBs Call For Deadline Extension

    The South West Zone of the National Association of Microfinance Banks has urged the Central Bank of Nigeria to extend the December 31, 2012 deadline given to them to comply with the Revised Microfinance Policy Framework, which...

    • Posted January 28, 2013
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  • CBN introduces KYC Requirements for banks, sets new deposit limit for account holders

    The Central Bank of Nigeria (CBN) has introduced new deposit limits for account holders, which affects all categories of accounts and has also introduced three-tier Know Your Customer (KYC) requirements for banks. The new policy sets N20,...

    • Posted January 24, 2013
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  • SGBN Set To Resume Operations

    The Nigerian banking industry is set to witness the re-entrance of Societe Generale Bank, a company whose license was revoked in in 2006 but restored by court judgement in 2009. SGBN will return as Heritage Bank of...

    • Posted January 21, 2013
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  • 238 Forex Dealers Licenses’ Withdrawn By CBN To Checkmate Corruption

    The Central Bank has thumped its regulatory hammer down on 238 Bureau de Change (BDC) operators operating in the country. According to a circular released Tuesday by the Trade and Exchange Department, of the Central Bank of...

    • Posted January 17, 2013
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  • CBN Worried About Capital Flight

    The Central Bank of Nigeria (CBN) has raised alarm concerning the heightened potential for capital reversal in the country. According to the External Sector Development Report issued by the CBN, foreign inflows of capital increased 77% from...

    • Posted January 10, 2013
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