Tag Archives: CBN

ECONOMY: Godwin Emefiele Won’t Resign Over Naira Poor Exchange Rate – CBN

  Nwanisobi who’s the Director of Corporate Communications, just like the CBN Governor, has refused to acknowledge the parallel FX market as a significant part of the currency market. PEGASUS REPORTERS, LAGOS |SEPTEMBER 21, 2021 The Central Bank of Nigeria (CBN) has rebuffed calls for the resignation of its Governor, Godwin Emefiele, amid naira exchange rate concerns. Information guide Nigeria ...

Read More »

CBN Deputy Governor Attributes Naira Depreciation On Covid-19 Pandemic

  “You go on to foreign portfolio inflows, you notice that investors also settled their affairs on the side of caution and so, once COVID-19 outbreak occurred, they moved out about $120 billion dollars from emerging markets to safe havens in America and Nigeria is one of those countries from where monies were withdrawn” OYAKHAMOH Y. CARL-ABU’BAKAR | AUGUST 19, ...

Read More »

NON-INTEREST BANKING: Lotus Bank Gets CBN Licence To Commence Operation

  “Our values are deeply rooted in partnership. A critical component of our mission is the provision of innovative solutions that drive ethical prosperity for all stakeholders. OYAKHAMOH Y. CARL-ABU’BAKAR Lotus Bank Limited has been granted a licence to operate the non-interest banking operation in Nigeria. Its the first of such concern from the Southwest to be registered by the ...

Read More »

Caught Up! CBN Governor Says Digital Currency Is A Must In Nigeria

  Under cryptocurrency and Bitcoin, Nigeria comes 2nd while in the global side of the economy, Nigeria comes 27th. We are still conducting our investigation and we will make our data available.” PEGASUS REPORTERS During the 279th MPR meeting held Wednesday 26th of May in Abuja, the CBN Governor, Godwin Emefiele assured Nigerians that digital currencies will have a place ...

Read More »

First Bank Crisis: CBN Sacks Oba Otudeko, Others, Reinstates Sacked MD

  “To us at the CBN, not only is it imperative to protect the minority shareholders, that have no voice to air their views, also important, is the protection of the over 31 million customers of the bank who see FBN as a safe haven for their hard-earned savings”. The Central Bank of Nigeria (CBN) has sacked key board members ...

Read More »

Nigeria Is Printing Money & The Road To Zimbabwe – Nick Agule

  “The plausible reason the government was ashamed to admit the use of QE is that while they are printing digital money which is the 1st half of QE, they are totally mismanaging the 2nd half because the government is neither buying back bonds nor bailing out ailing industries with QE”  By Nick Agule Within the last week, a war ...

Read More »

CBN Mandates Banks to Open Dollar Accounts For Customers

  “This development ensures that all international money transfers will be successfully processed even if senders enter Naira account details for transactions. The Central Bank of Nigeria (CBN) has mandated commercial banks to open new dollar account with offshore lenders for receiving international money transfers according to a report by the Nation. The directive was disclosed by WorldRemit- an International ...

Read More »

What CBN’s Ban on Crypto Means for Nigerian Users and the Local Industry

  Most crypto exchanges partner with NBFIs and OFIs like Flutterwave, Paystack, and Monify to transact with bank customers in Nigeria. The partnerships enable them to process debit cards and direct transfer transactions. Based on the instructions in the circular, those companies cannot continue to provide those services. BENJAMIN DADA | Impressive Reporting on Tech in SSA The Central Bank ...

Read More »

MONEY TRANSFER FRAUD: Collusion Among CBN, Commercial Banks, Western Union, Moneygram, etc To Kill The Naira Installmentally

Although this is an old story having been published earlier in October 8th, 2019, we have felt duty-bound to Nigeria and Nigerians, as a media, to republish the article, in case, those for whose attention it was meant didn’t read it. … Editor By Chief Anthony Ani, FCA, Former Minister Of Finance. “A MATTER OF NATIONAL EMERGENCY DEMANDING OUR DEAR ...

Read More »