All posts tagged "CBN"

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  NNPC dollar sales strengthen naira

  The naira firmed against the U.S. dollar on Monday, buoyed by the sales of around $400 million by Nigerian National Petroleum Corporation (NNPC) to selected banks on Friday. The naira closed at N151.80 to the dollar compared...

  • Posted July 12, 2011
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• CBN APPOINTS EXECUTIVE DIRECTORS FOR THREE BANKS

  The Central Bank of Nigeria wishes to announce the appointment of new Executive Directors for Bank PHB, Spring Bank Plc and Equitorial Trust Bank Limited respectively. This follows the removal of the CEO’s of the affected banks...

  • Posted May 27, 2011
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• MPC BOOSTS REAL SECTOR: Stresses Need To Unlock the Credit Market

  In tandem with the desire of the Central Bank of Nigeria at ensuring that the financial sector contributes to the real economy as enunciated under the four pillars of the banking reforms, the Monetary Policy Committee (MPC)...

  • Posted May 27, 2011
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  New uniform account number takes-off June

  The Central Bank of Nigeria (CBN) has released Uniform Bank account number (NUBAN) to Nigeria commercial banks for the purpose of full implementation to achieve uniform customer bank account in the country. In a memo to the...

  • Posted April 30, 2011
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• CBN contributed to bank collapse – Ex ED, Afribank

  For 43 years – 1965 to 2002 – Alhaji Ismaila Shuaibu traversed the banking corridor in Nigeria. Beginning as a clerk with former Barclays Bank of Nigeria now Union Bank in Kaduna, he retired as ED in...

  • Posted April 30, 2011
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  CBN to peg daily cash withdrawal at N150,000

    The Central Bank of Nigeria (CBN) has pegged daily cash withdrawal and lodgments by individuals at N150, 000 and N1 million by corporate organisations. The policy, which kicks off June 2012, is intended to curb the...

  • Posted April 29, 2011
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  CBN sets June deadline for Uniform Bank Account Number Scheme

  The Central Bank of Nigeria (CBN) has set June this year as deadline for banks to fully comply with the Nigeria Uniform Bank Account Number (NUBAN) scheme. This was communicated to banks via a release titled, “PROPOSALS...

  • Posted April 29, 2011
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• CBN moves against increasing cash dominance in economy

  The Central Bank of Nigeria in collaboration with the Bankers Committee has adopted policies to reduce the high usage of cash to moderate the cost of cash management and encourage the use of electronic payment channels. The...

  • Posted April 29, 2011
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  Demand for dollar drops after elections

  The amount of dollar sold at the Wholesale Dutch Auction System (WDAS) dropped by over 37 per cent on Wednesday, as pressure eased in the aftermath of the elections. Dollar demand, which peaked at $586.4 million at...

  • Posted April 29, 2011
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  Central Bank sets new cash withdrawal limits

  To discourage the use of raw cash in economic transactions in the country, the Central Bank of Nigeria (CBN) has taken steps to promote the use of electronic payment systems. The CBN yesterday in a circular to...

  • Posted April 29, 2011
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