Tag Archives: CBN

Economics 101 to the Rescue: Unraveling the Mystery of the Appreciating FX rate – By Femi Onakanren

  “To start off, the CBN deployed a simple law of economics; if demand increases, price will increase. It offered to test the market by selling FX to BDCs at a rate lower than the prevailing parallel market price. This is called market making and is an extension of the obligations of the central bank to provide market stability.” PEGASUS ...

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NGN FX Rate: What’s that Sweet Spot? The 3-Pronged Tactical Roadmap Approach – Femi Onakanren

  “Ultimately, the FX sweet spot is more than just a figure. It is a destination determined by the progression of critical macroeconomic indicators. The suggested approaches above will result in significant appreciation of GDP and ensure a better distribution of wealth in the country. Thus, the FX sweet spot, just as with previous submissions regarding the subject, is not ...

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Conditional Cash Transfer: CBN begins direct payment to beneficiaries as fed govt identifies those not eligible

  Olanrewaju said, “They may not be ghosts, but we have put in place many controls to make the process credible and clean. First, we looked for the NIN and BVN to match with in-person verification and biometrics. The process is from the CBN to the beneficiaries; there are no middlemen.” PEGASUS REPORTERS, LAGOS | OCTOBER 21, 2023 The Federal ...

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Milestone: Congratulations as Hajia Izzatu Musa Yashi retires from the CBN with honour & dignity

  Congratulations to Another Yashi with Honour & Dignity PEGASUS REPORTERS, LAGOS | SEPTEMBER 30, 2023 Following in the footsteps of her husband – an honouree of the Federal Government (as the Humanitarian Award Winner for the Year 2022), Hajia Izzatu Musa Yashi (Izzatu Ibrahim Dimis) today, 1st October 2023 is retiring as a Director of the Central Bank of ...

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Breaking News: Olayemi Michael Cardoso assumes duty as acting CBN governor

  “This change in leadership at the CBN is coming on the heels of the resignation of Godwin Emefiele, the former governor who is in detention for multi-dimensional criminal offenses.” PEGASUS REPORTERS, LAGOS | SEPTEMBER 23, 2023 Olayemi Michael Cardoso has officially assumed the role of acting governor of the Central Bank of Nigeria (CBN). It will be recalled that ...

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Emefiasco: Preliminary Report Indicts Acting CBN Gov. Shonubi, Emefiele, Others

  “Preliminary investigations, it was gathered, indicated that the CBN management did not only lie to ex-President Buhari on the status the account. It was gathered that the account was being manipulated, tampered with at will while the funds left are being surreptitiously moved to two other accounts without the knowledge of past government.” PEGASUS REPORTERS, LAGOS | SEPTEMBER 16, ...

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Emefiasco: DSS Nabbed Benjamin Adeoye Fakunle, CBN Finance Director In Abuja

  *Arrested director’s grilling by Special Investigator ongoing *Official alleged to have aided Emefiele, Shonubi, deputies to loot CBN *Fakunle said to operate 65 local, foreign personal bank accounts, own 28 choice properties in Abuja alone PEGASUS REPORTERS, LAGOS | SEPTEMBER 16, 2023 A major breakthrough may have been recorded in the ongoing probe of the Central Bank Nigeria (CBN) ...

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President Bola Tinubu Tips Yemi Cardoso as Governor of the Central Bank of Nigeria (CBN).

“In line with President Bola Tinubu’s Renewed Hope Agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.” PEGASUS REPORTERS, LAGOS | SEPTEMBER 16, 2023 Presidential spokesman, ...

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SPECIAL REPORT: Interests Working Against Special Investigator, Obazee’s Bid To Unearth Rots In CBN

  “Nigerians will be very shocked at what Obazee and his team have discovered and uncovered at the CBN. Nigerians will be stunned by the various humongous recoveries and revelations that will come out from the ongoing probe of the CBN by the Special Investigator. This is why they have been fighting tooth and nail against Obazee” PEGASUS REPORTERS, LAGOS ...

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President Tinubu receives petition against Dangote over $3.4 Billion Forex ‘Siphoned’ through CBN

  “The barefaced audacity of these financial transgressions is further displayed by several implicated banks, which have audaciously sanctioned millions of dollars at the CBN rate to the Dangote Group, in direct violation of CBN’s instructions to source funds from the parallel or interbank market.” PEGASUS REPORTERS, LAGOS | AUGUST 21, 2023 The President, Bola Ahmed Tinubu has been petitioned ...

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