• Tinubu urges CBN to lower interest rate over COVID-19

    Tinubu urges CBN to lower interest rate over COVID-190

    The National Leader of the ruling All Progressives Congress (APC), Bola Ahmed Tinubu, has called on the Federa l Government and the Central Bank of Nigeria (CBN) to take advantage of the economic dislocations created by the COVID-19 pandemic to lower interest rate. In a statement entitled: “The Case Against High Interest Rates in Time

    READ MORE
  • CORONAVIRUS: CBN, BANKERS’ COMMITTEE STOPS MASS SACK IN BANKS

    CORONAVIRUS: CBN, BANKERS’ COMMITTEE STOPS MASS SACK IN BANKS0

    THE anticipated mass sack in the banking sector has been halted by the Central Bank of Nigeria (CBN) and Bankers’ Committee. The suspension of the lay-offs in banks followed a resolution reached by the apex bank and the committee that no bank should sack, whether on temporary or permanent position. The Bankers’ Committee was convened

    READ MORE
  • CBN forex intervention hits $43.5bn in 15 months

    CBN forex intervention hits $43.5bn in 15 months0

    Within a 15-month period covering October 2018 and December last year, the Central Bank of Nigeria injected over $43.52bn to defend the nation’s currency in the foreign exchange market. The amount was arrived at by our correspondent based on computation of amount released by the apex bank to boost liquidity in the foreign exchange market.

    READ MORE
  • Inter-Bank Forex Market: CBN Intervenes With $210m

    Inter-Bank Forex Market: CBN Intervenes With $210m0

    The Central Bank of Nigeria (CBN) has injected the sum of 210 million dollars into Nigerian Inter-Bank Foreign Exchange market following conclusion of Tuesday’s transactions. The bank’s Director, Corporate Communications Department, Isaac Okorafor, made this known in a statement in Abuja on Tuesday. Okorafor explained that the figure released by CBN on Tuesday indicated that

    READ MORE
  • Naira Closes at 359.3 to Dollar at Parallel Market

    Naira Closes at 359.3 to Dollar at Parallel Market0

    The naira on Monday traded at N359.3 to the dollar at the parallel market in Lagos. The pound sterling and the euro closed at N463 and N407 respectively. At the Bureau De Change (BDC) segment, the naira exchanged at N360 to the dollar, while the pound sterling and the euro closed at N463 and N407

    READ MORE
  • CBN Sets September Deadline for Mutilated Notes

    CBN Sets September Deadline for Mutilated Notes0

    Organised labour lauds Emefiele Nume Ekeghe and Solomon Elusoji. The Central Bank of Nigeria (CBN) has said banks now have between June 3 and September 2, to collect and sort all mutilated notes in their possession for reissuing The central bank’s Director of Corporate Communications, Mr Isaac Okorafor, made the disclosure while engaging with leaders

    READ MORE