YouNewsng Discover. Succeed. Enjoy
A former Deputy Governor of the Central Bank of Nigeria, Dr Obadiah Mailafia, and a professor of Political Economy, Pat Utomi, have faulted the CBN Governor, Godwin Emefiele’s justification of printing money to support government. Reacting to Emefiele’s explanations, Mailafia, in an interview insisted that there was no basis for comparing Nigeria’s printing more money to other countries’ He said ...
April, 2021
July, 2017
-
10 July
CBN Gov excited over inflation trending downwards..Promises 1 digit soon
Buoyed by the rate of the economy’s recovery, the Central Bank of Nigeria (CBN) is confident that the country will return to single digit inflation rate. CBN Governor Godwin Emefiele, in an interview with Arise Television yesterday, said with the improvement seen in growth from the negative 1.7 per cent in the last quarter of last year to the negative ...
June, 2016
-
16 June
CBN Says naira will settle at 250 per dollar
The Central Bank of Nigeria (CBN) is “reasonably optimistic” the naira will settle at around 250 to the U.S. dollar after an initial period of weakness following a flotation on Monday, the bank’s governor has said in a letter to President Muhammadu Buhari. Nigeria’s central bank said on Wednesday it would begin market-driven foreign currency trading next week, abandoning the peg ...
May, 2016
-
14 May
Buhari, CBN Oppose Devaluation, Osibajo Disagrees
The Central Bank of Nigeria (CBN) said yesterday that those campaigning for further devaluation of the naira, or speculating it has already devalued the local currency should have rethink. There were speculations that the CBN would devalue the naira, as a last resort to ongoing economic crisis and will come immediately after raising fuel prices. But CBN’s Acting Director, Corporate Communications, ...
February, 2016
-
18 February
Buhari To Sack CBN Gov, Godwin Emefiele
There are more than one indications pointing toBuhari’s axe dangling on CBN gov .He may be sacked any moment from now…and he is having the inkling,.an insider confided in younews – Emefiele has been in the eye of the storm, following revelations that the nation’s treasury was practically emptied to fund the failed re-election bid of Jonathan in 2015 – The ...
November, 2015
-
25 November
4 Reasons Why The CBN Cut CRR & MPR
The Central Bank Monetary Policy Committee cut MPR from 13% to 11% in a move that surprised analysts. They also cut the cash reserve requirement for banks from 25% to 20%. The committee voted 8 to 10 to reduce the MPR and 7 to 10 to reduce CRR. The CBN is hoping that these twin cuts will stimulate the economy ...
-
23 November
“39.5 Million Nigerians Are Excluded From Financial Services” – CBN
The Central Bank of Nigeria, CBN, has maintained that about 39.5 million Nigerians were excluded from the financial services system including insurance services, pension and banking services. The apex bank said greater numbers of persons were excluded from insurance and pension services. A representative of CBN at the micro insurance fair recently held in Lagos, Olayinka Peters from the Financial Inclusion ...
-
23 November
CBN Gives Three Commercial Banks June 2016 Deadline to Recapitalize
The Central Bank of Nigeria, CBN, has given three commercial banks until June 2016 to recapitalize after they failed to meet the minimum Capital Adequacy Ratio (CAR) of 10 per cent. The Apex bank explained over weekend, that 14 banks have licenses to operate as regional and national lenders with respective capital bases of N10 billion ($50 million) and N25 ...
August, 2015
-
11 August
Expert Warns Against The Dangers Of CBN’s Policies
The Chief Economist, Standard Chartered Bank, Africa, Razia Khan, has cautioned that the recent foreign exchange policies introduced by the Central Bank of Nigeria (CBN) – the imposition of forex restrictions on imports and the requirement that clients’ demand for forex be pre-funded 48 hours ahead – were already fueling inflation, thereby making it difficult for the Federal Government to ...
-
3 August
NAME & SHAME: Fidelity, Union, Other Banks List Debtors
Banks are exposing the businesses and people behind the mountain of debts threatening to kill the sector – courtesy of a Central Bank of Nigeria (CBN) directive that expired at the weekend. Barring unforeseen developments, some of the banks will begin the publication of their debtors’ list today. The publications are coming on the heels of the July 31, 2015 ...
