CBN

The Ways and Means had been a recurring loan the CBN issued to the federal government to finance shortfalls in the government budget. The post CBN announces measures to check inflation, stops Ways and Means to FG appeared first on Premium Times Nigeria. The Ways and Means had been a recurring loan the CBN issued to the federal government to finance shortfalls in the government budget. The post CBN announces measures to check inflation, stops Ways and Means to FG appeared first on Premium Times Nigeria. FOLLOW US…

The House of Representatives has resolved to investigate the alleged hoarding of dollars by some commercial banks. This resolution was a sequel to a motion moved by Babajimi Benson (APC, Lagos) on Wednesday during plenary. Mr Benson, in his motion, said some banks are sabotaging the efforts of the Central Bank of Nigeria to halt the slide of the naira against major currencies. He stated that the banks have not been complying with the new FX risk management circular released by the CBN. Last week, the CBN released…

Nigeria’s Central Bank Governor, Olayemi Cardoso, will appear before the House of Representatives to speak on the state of the economy, the Clerk of the House, Yahaya Danzaria, announced on Monday. Mr Cardoso is scheduled to speak to the lawmakers during plenary to brief them on the free fall of the naira and other issues affecting the monetary side of the economy. According to the statement issued by Mr Danzaria, the CBN governor will appear before the lawmakers for a sectorial debate focusing on the financial…

Ahead of the Monetary Policy Committee (MPC) meeting, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, has disclosed the bank is revamping its communication strategy. The bank had on 19 January announced its first MPC meeting, six months after its last one. The meeting is scheduled to be held between 26 and 27 February. Speaking Monday in an exclusive interview with Arise Television, Mr Cardoso said he recognised the pivotal role of communication in conveying complex monetary policy decisions.…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will impact the growth of the Nigerian economy, central bank governor Olayemi Cardoso said on Monday. Expressing concerns about the impact of previous MPC meetings on the economy, he said the MPC will complement the fiscal side and ensure that it moves the economy in the right direction. The CBN in January announced the scheduling of the MPC meeting under the leadership of Mr Cardoso for 26 and 27 February. The announcement came six months…

The Central Bank of Nigeria (CBN) uncovered invalid foreign overdue claims totalling $2.4 billion, which have pressured the naira for long and spooked the currency market, Central Bank Governor Olayemi Cardoso said on Monday. Mr Cardoso said the discovery was made after an audit by the consultant that the Central Bank engaged brought several shady deals to light. After seven years of being concealed from public knowledge, the audited accounts of the CBN became public last year during which auditors revealed a $7…

The Central Bank of Nigeria (CBN) uncovered invalid foreign overdue claims totalling $2.4 billion, which have pressured the naira for long and spooked the currency market, central bank governor Yemi Cardoso said on Monday. Mr Cardoso said the discovery was made after an audit by the consultant that the central bank engaged brought several shady deals to light. After seven years of being concealed from public knowledge, the audited accounts of the CBN became public last year during which auditors revealed a $7…

The Central Bank of Nigeria (CBN) uncovered invalid foreign overdue claims totalling $2.4 billion, which have pressured the naira for long and spooked the currency market, central bank governor Yemi Cardoso said on Monday. Mr Cardoso said the discovery was made after an audit by the consultant that the central bank engaged brought several shady deals to light. After seven years of being concealed from public knowledge, the audited accounts of the CBN became public last year during which auditors revealed a $7…

The Central Bank of Nigeria on Saturday refuted claims alleging that the Nigerian government is contemplating the conversion of $30 billion in domiciliary deposits to naira. According to a statement by the Acting Director of Corporate Communications, Hakama Ali, the claim has been circulating in a national newspaper. “The attention of the Central Bank of Nigeria (CBN) has been drawn to a story published by a national newspaper alleging that the Federal Government is considering converting $30bn domiciliary…

Net profit at Stanbic IBTC Holdings, the local unit of Africa’s biggest bank, Standard Bank, shot 74 per cent to its peak since inception three decades and a half ago, its unaudited accounts issued Wednesday showed. The jump was recorded on the back of higher interest income. Unstoppable inflation continues to create a boom for Nigerian lenders, prompting the CBN to raise the reference rate by 18.6 per cent last year to slow galloping price levels, enabling banks to charge more for loans. It earned Stanbic IBTC…