Tag: CBN
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MAN welcomes CBN’s unification of exchange rates
The Manufacturers Association of Nigeria (MAN) says the unification of the country’s exchange rate is a welcome development that will engender increased investment inflow in the real sector of the economy. Mr Mansur Ahmed, MAN President, made this remark in a report made available to newsmen on Friday in Lagos. Ahmed said that the association…
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CSOs Clear CBN of Corruption Allegations
… Threatens to Sue US Based Organisation A coalition of civil society groups, Conference of Harmonised Civil Society Organisations has said the allegations of corruption levelled against the Central Bank of Nigeria (CBN) and her officials by a US based group, Young Professionals Forum are mere fabrications and an attempt to demarket the Federal Republic…
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CBN Tops in International Polls on Transparency, Accountability
The Central Bank of Nigeria (CBN) has been rated top on transparency, accountability and due process in her operations according to a 2020 poll conducted by the Mahatma Ghandi Peace Foundation in collaboration with The Winston Churchill Centre For Investigative Journalism. About 453 federal government departments, agencies and parastatals were part of the poll,…
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SMEs urges CBN to ease access to COVID-19 fund
The Nigerian Association of Small and Medium Enterprises (SMEs) on Tuesday urged the Federal Government to set up mechanism to ensure SMEs had easy access to the N50 billion COVID-19 intervention fund. Mr Auwal Bununu, Zonal Vice President (North Central) of the association made the call in a telephone interview with our correspondent Our correspondent…
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CBN to suspend interest payment on state debts
The President, Muhammadu Buhari, has approved the suspension of the payment of interest on debts owed by state governments. Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, who disclosed this at a press briefing in Abuja on Monday, said this was part of measures to reduce the debt burden on state governments. The…
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CBN, RIFAN task rice farmers in C’ River on loan repayment
The Central Bank of Nigeria (CBN) and the Rice Farmers Association of Nigeria (RIFAN) on Tuesday charged rice farmers in Cross River on loan repayment. The President of RIFAN, Mr Aminu Mohammed said that the loan repayment was collected for rice cultivation in the state. He said this during a RIFAN delegate congress in Calabar.…
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CBN pumps $210m to Forex Market
By Joseph INOKOTONG The Central Bank of Nigeria (CBN) has injected $210 million to boost the inter-bank Foreign Exchange Market. With the sum, customers’ requests would be met in various segments of the market. Maintaining the momentum, and in its quest to meet the customers’ needs in the sundry segments of the market, the CBN…
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CBN pumps $210m to Forex Market
By Joseph INOKOTONG The Central Bank of Nigeria (CBN) has injected $210 million to boost the inter-bank Foreign Exchange Market. With the sum, customers’ requests would be met in various segments of the market. Maintaining the momentum, and in its quest to meet the customers’ needs in the sundry segments of the market, the CBN…
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CBN Governor allays fears over MPC meeting
…Says Economy remains strong By Joseph INOKOTONG The Central Bank of Nigeria (CBN), would continue to maintain the key monetary variables as decided in the last Monetary Policy Committee (MPC) meeting of November 2017, which held Monetary Policy Rate (MPR) at 14 percent, CRR at 22.5 percent, Liquidity Ratio at 30 percent and the Asymmetric…
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CBN disowns fake Emefiele Twitter handles
By Joseph INOKOTONG The Central Bank of Nigeria (CBN) has disclosed that the Governor, Mr. Godwin Emefiele has no twitter handle account. The CBN pointed out that the twitter handles bearing the name and photographs of Mr. Emefiele are fake and targeted at misleading unsuspecting members of the public. A statement issued Tuesday in Abuja…