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All posts tagged "CBN"

  • We Cannot Force Banks To Engage In Lending – CBN

    The Central Bank of Nigeria (CBN) may have admitted its lack of regulatory prowess in the area of banking supervision when it said that it could not force banks to engage in lending. Director, Corporate Communications, CBN,...

    • Posted January 8, 2013
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  • Apex Bank Orders Cessation Of Transactions In Liquidated Banks Cheques

    The Central Bank of Nigeria (CBN) has called for the halt of the issuance or acceptance of financial instruments from liquidated banks. The banks affected under the new regulation which came into effect yesterday are Afribank Plc, Bank...

    • Posted January 3, 2013
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  • CBN Responsible For Over 70% of Total Remittances to Govt

    In the wake of corruption in the country, monies called “operational surpluses”meant to be returned to the treasury are used for personal enrichment through fraudulent means. Recently remittances by Ministries, Departments, and Agencies (MDAs) to the government...

    • Posted December 14, 2012
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  • Micro, Small and Medium Businesses to Receive a Boost of N220 billion – CBN

    The CBN has set aside N220 billion for Micro, Small, and Medium Enterprises (MSMEs) and the money is to be released by the first quarter of 2013. A CBN official who spoke in confidence said the money...

    • Posted December 3, 2012
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  • CBN Cautions National Assembly on Oil Benchmark Increase, Retains Interest Rate At 12%

    The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday advised the National Assembly not to increase the 2013 budget oil benchmark from $75 to $80 per barrel. The CBN Governor, Mr. Lamido Sanusi said,...

    • Posted November 21, 2012
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  • CBN Commences Implementation of ‘guide to bank charges’

      The Central Bank of Nigerian (CBN) has started a phased execution of ‘Guide to Bank Charges’. Generally, the guideline is meant to protect bank customers’ interest in their dealing with lenders. CBN’s move through the Bankers’...

    • Posted November 19, 2012
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  • CBN Blames Rising Inflation on Governor’s Ostentatious Spending

    The Central Bank of Nigeria (CBN) has called on State governors to watch their spending habits, as their extravagant spending habits is responsible for inflation in the country. This warning was issued by the deputy governor, financial...

    • Posted November 13, 2012
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  • Labour, Opposition Condemn Sanusi’s N5,000 Note Project

    Knocks for Sanusi’s intent to introduce the N5,000 note have come from several different corners including the National Labour Congress, Trade Union Congress and Action Congress of Nigeria amongst other parties. In a statement released by the...

    • Posted August 27, 2012
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  • CBN calls on Banks to boost Private Sector Credit

    Unhappy with the decline of credit being extended to the private sector by banks in the country, the CBN has called on the banks to increase lending to private sector in order to boost the economy. Governor...

    • Posted May 24, 2012
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  • CBN Faults Fuel Subsidy Report

    The Central Bank of Nigeria has denied making payments of N 844.9 billion to the Nigerian National Petroleum Corporation (NNPC) for fuel subsidy, as alleged in the Fuel Subsidy Report. In a letter to Speaker Aminu Tambuwal...

    • Posted May 3, 2012
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