A Professor of Political Economy and founder, Centre for Values in Leadership, Pat Utomi, shares with TUNDE AJAJA his thoughts on the current economic situation in the country, the planned redesign of the naira and what should inform people’s choices in 2023 One of the topical economic issues in the minds of many …
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The Central Bank of Nigeria (CBN) on Saturday said it followed due process in its decision to redesign some denominations of the naira, insisting that the exercise was twelve years overdue. CBN made this known via its Twitter account, urging Nigerians to back the measure as it was in the …
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Nigerians spent $609.5m on foreign education between January and August 2022. The figure is contained in the data obtained from the Central Bank of Nigeria, calculated based on the information provided on the amount spent on educational services under the sectoral utilisation for transactions valid for foreign exchange. In January …
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THE Central Bank of Nigeria (CBN) increased the Monetary Policy Rate (MPR), which is the benchmark interest rate, to 15.5 percent from 14 percent on Tuesday. Nigeria’s central bank also raise cash reserve ratio (CRR) from 27.5 percent to 32.5 percent. The increase in MPR and CRR followed soaring inflation …
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The Central Bank of Nigeria (CBN), on Friday, organised an enlightenment fair for business operators, commercial banks and other groups in Rivers State. Others groups that attended the enlightenment fair were farmers and cooperative societies as well as members of the National Youth Service Corps (NYSC) and workers from various …
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President Muhammadu Buhari has applauded the Central Bank of Nigeria (CBN) for effectively ensuring financial system stability in the country over the years. President Buhari made the commendation yesterday at the 15th Annual Banking & Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) Theme: Repositioning the Financial …
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The Central Bank of Nigeria (CBN) has approved a reward scheme for users of the eNaira, including merchants. This includes providing merchants with the required promotional materials, subsidising the current Merchant Service Charge by 50% and activation of a nationwide sensitization that early business adopters of eNaira can leverage on …
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The Central Bank of Nigeria (CBN) has stated that Nigeria cannot stop borrowing, especially when it is necessary as part of fiscal responsibility. Godwin Emefiele, the governor of the Central Bank of Nigeria, made this statement at a national dialogue on Nigeria’s mounting debt, titled: “The Rising Public Debt in Nigeria …
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A document on NNPC remittances to CBN seen in Abuja on Sunday has shown that the Nigerian National Petroleum Company Limited remitted a total of N2.7bn into its accounts with the Central Bank of Nigeria from January to June this year. Contradicting the claims of CBN that the weakening value of the …
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Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has stated that Nigerians now “‘shamefully” pay dollars to study in universities in neighbouring West African countries. This was stated on Tuesday by Emefiele while responding to questions from journalists after the monetary policy committee (MPC) briefing in Abuja. He …
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