Tag Archives: CBN

AFRICAN leaders have appointed former deputy governor of Central Bank of Nigeria, CBN, Prof. Kingsley Moghalu inaugural president of African School of Governance, ASG, based in Kigali, Rwanda. His appointment took effect on October 1, 2024. after a global competitive search. Recall that the leaders weekend announced the establishment of …

  FOUR major Nigerian banks are grappling with the implications of the Central Bank of Nigeria’s (CBN) stringent recapitalisation policy, potentially leading to the loss of their brand identities. An investigation showed that these banks are deeply concerned following the CBN’s recent approval of the acquisition of Unity Bank. This …

THE Central Bank of Nigeria (CBN) says it has no plan to revoke the licences of more Deposit Money Banks (DMBs). The Acting Director, Corporate Communications, of the apex bank, Mrs Hakama Sidi-Ali, said this in a statement on Tuesday in Abuja. Sidi-Ali’s statement was a response to allegations in …

CBN Governor, Yemi Cardoso THE student loans program is ready to launch following the inaugural meeting of the special committee overseeing the Nigerian Education Loan Fund (NELFUND). Newsextra24 understands that the rollout of the scheme is scheduled for next Monday, February 26, 2024. The Governor of the Central Bank of Nigeria …

GOVERNOR of the Central Bank of Nigeria, CBN, Olayemi Cardoso, says for the first time in a long while, the country’s volume of transactions in the foreign exchange market rose to $800 million. He disclosed this on Tuesday while addressing members of the House of Representatives at the sectoral debate …

THE Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has refuted claims that the federal government is still owing foreign exchange amounting to $2.4 billion. In an interview with Arise Television, Cardoso said the bank had settled verified forex requests, which amounted to $2.3 billion out of the …

THE Central Bank of Nigeria, CBN, has postponed the meeting of its Monetary Policy Committee, MPC, for the second time since September 2023. Isa Abdulmumin, the director of corporate communications of the apex bank, confirmed that the MPC meeting will not be held. Since the appointment of Olayemi Cardoso, the …

THE Department of State Services, DSS has arrested and detained the Deputy Governor of the Central Bank of Nigeria in charge of Financial System Stability, Aisha Ahmad, over the alleged fraudulent acquisition of shares in Polaris Bank, Titan Bank/Union Bank. The CBN Deputy Governor is currently being interrogated on how …

The House of Representatives Ad Hoc Committee investigating the non-remittance of money to the National Housing Fund and the utilisation of funds from 2011 to date, on Thursday, warned that the chief executive officers who failed to honour its invitation risk being subpoenaed. The committee consequently gave the defaulting banks …

NIGERIA’s external reserves dropped by $915 million after the Central Bank of Nigeria officially floated the Naira and liberalised the foreign exchange market. CBN data obtained on Sunday showed that the reserves, which stood at $34.66bn as of June 14, 2023, when the Naira was floated, fell to $33.74bn as …