The Senate has resolved to debit the accounts of commercial banks that guaranteed loans to beneficiaries of the Anchor Borrowers Programme of the Central Bank of Nigeria. The Senate vowed to carry out the process through the Central Bank of Nigeria. The Senate
The naira depreciated yesterday to N1,205 per dollar in the parallel market from N1,185 per dollar last Friday. However, the naira appreciated to N864.29 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM
Barely one year after his sack as the Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdulhameed, has been arrested, Daily Trust reports. NIRSAL, a $500m non-bank financial institution, is a creation of the Central Bank of
The naira sustained its slide against the United States dollar yesterday, as it weakened to an all-time low on the parallel market where it sold at N1100/$1 for weaker than the N1,060/$1 it traded the previous day. But the nation’s currency traded lower
The Central Bank of Nigeria on Thursday began the disbursement of old naira notes to Deposit Money Banks as government authorities stepped up efforts to end the biting currency scarcity that has inflicted pain on millions of bank customers nationwide. The central bank
Kaduna residents flooded commercial banks on Tuesday following the Central Bank of Nigeria’s directive that old N500, and N1,000 notes should remain valid legal tender until December 31. Many commercial banks’ gates were full before 8:00 am, with customers optimistic that their sufferings
On Monday, both the Presidency and the Central Bank of Nigeria, CBN, finally bowed to pressure to end the two months Naira crisis in the country. The apex bank, a few hours after the presidency absolved itself of blame, directed commercial banks to
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has debunked allegations of a fresh plot against the president-elect, Bola Tinubu. There have been rumours that a N500 million budget was mobilised through top CBN agents in Lagos State. The money was
The Central Bank of Nigeria (CBN) has ordered commercial banks to collect old N500 and N1,000 notes from customer
Nigeria’s forex exchange reserve will fall in 2022 as the Central Bank of Nigeria plans to clear about $1.7bn in FX backlog to foreigners and FX forward contracts, the World Bank has said. The global bank stated that the nation’s reserves rose to
London’s Metropolitan Police has revealed the identity of the teenage boy killed in Tuesday’s horrific
Abia State Governor, Dr. Alex Otti, OFR, says the welfare of Abia workers will continue
Delta State Governor, Rt. Hon. Sheriff Oborevwori, assured that his administration would set up a
Serious jubilation has reportedly rocked the Imo state chapter of the Peoples Democratic Party, PDP