Tag Archives: Central Bank of Nigeria

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President Buhari Launched Economic Recovery And Growth Plan

President Buhari Launched Economic Recovery And Growth Plan

The ceremony took place inside the Council Chambers of the Presidential Villa, Abuja before the commencement of the weekly Federal Executive Council meeting. In attendance were Vice-President Yemi Osinbajo; Senate President, Bukola Saraki; Speaker, House of Representatives, Yakubu Dogara; Chairman, Nigerian Governors Forum, Abdulaziz Yari; National Chairman of the All Progressives Congress, John Odigie-Oyegun; Governor, Central Bank of Nigeria, Godwin Emefiele and members of the Federal Executive Council. While President Buhari was on medical vacation

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Emefiele Under the Gun

Much uncertainty grips the Central Bank of Nigeria as the Presidency probes alleged irregularities in the audited financial statement of the bank for the 2015 financial year, ­— even in the midst of the institution’s curious foreign exchange transactions The love of money, the good book says, is the root of all evil. And so has it been at the Central Bank of Nigeria, CBN, in the last couple of years. In 2014, for instance,

National Assembly Mace

Senate Opposes Sale Of National Assets

The Senate this morning votes against the controversial sale of national assets when it rejected an item on the report of a committee on the issue. A post on the Senate Twitter handle quotes Ali Ndume, the Senate leader of saying “The Senate oppose the sale of National Assets to shore up Foreign Reserves.” Since the issue was thrown open by cabinet members and supported by some prominent people in the private sector and Bukola


CBN Grants Loan To SKYE Bank

The Central Bank of Nigeria, CBN, has provided a short term loan facility to Skye Bank Plc as a way to boost its liquidity. The move is aimed at assuring the bank’s depositors and creditors that the bank is safe. Isaac Okoroafor, the CBN acing director, corporate communications said the loan will ensure that the withdrawals the bank suffered “in the wake of the undue panic of last week(caused by a change in management in

Kemi Adeosun

Nigeria’s investor roadshow kicks off in London

Finance Minister, Kemi Adeosun’s meeting with London-based investors last Tuesday 7th June 2016, has provided an update on the Federal Government’s plans for economic reform, investment, and growth. A statement issued by Festus Akanbi, Special Assistant to the Minister of Media, indicates that the day-long event organised by Standard Chartered Bank was aimed at updating holders of the Federal Government’s existing international bonds on recent developments in the country and the near-term economic outlook, as

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Nigeria: Still Investors’ Haven

Despite the lull in economic activities due to lack of clear policy direction and the delisting of Nigerian bonds by JP Morgan, the Central Bank and financial experts insist that the economy remains attractive to foreign investors To many Nigerians, the nation’s economy is in dire straits owing to lack of clear economic policies and direction four months into the administration of President Muhammadu Buhari. The fact that the President is yet to appoint his


Emir of Kano Asks Residents To Fight Boko Haram

The Emir of Kano, Sanusi Lamido has challenged residents of the Boko Haram troubled areas to rise to the task by defending themselves against the Islamic extremists ravaging the North-Eastern parts of Nigeria. The Emir made the call in a prayer meeting in Kano noting that residents should not expect soldiers to protect them from terrorists. The immediate past Governor of the Central Bank of Nigeria told the people never to be afraid of the


Federal Government Appoints Emefiele As CBN Governor

Godwin Emefiele, the  chief executive officer, Zenith Bank Plc, has been appointed as substantive Governor of the Central Bank of Nigeria, CBN. He replaces Sahusi Lamido Sanusi, who was suspended this morning by President Goodluck Jonathan. Bayo Adelabu, executive director, First Bank Plc has also been named deputy governor, replacing Tunde Lemo. The names of the new appointees have been sent to the senate for confirmation. Sanusi’s suspension was announced in a statement signed by the

Sanusi-Lamido-Sanusi-(CBN-Governor) - photo-by-Sunday-Adedeji

President Jonathan Suspends CBN Governor Sanusi

  In what appears to be a tale of the hunter being the hunted, Lamido Sanusi, governor, Central Bank of Nigeria, CBN, has been suspended by President Goodluck Jonathan. Sanusi who has been having a running battle with the petroleum ministry and the Nigerian National Petroleum Corporation, NNPC, over his allegations of $20 billion missing oil money, was suspended for allegedly engaging in financial recklessness and misconduct.   “Having taken special notice of reports of