The Central Bank of Nigeria, CBN, and banks, under the aegis of the Bankers Committee have decided to bar bad debtors from purchasing foreign exchange in the inter bank foreign exchange market. Committee which comprises of the top management of CBN, Nigeria Deposit Insurance Corporation, NDIC, and chief executives of banks took the decision on…
FG To Privatize Railways, Inland Waterways, Others in 2015
The Federal Government has announced plans to privatize eight sectors of the economy by 2015. The sectors to be privatized include the railway, road authority, inland waterways, Ports & harbor, national transport commission, federal competition, consumer protection and postal bill. Benjamin Dikki, the Director General of the Bureau of Public Enterprises, BPE, disclosed this during…
Economy: Nigeria Skirting The Circle
How I wished Tayo Akpata, Sam G. Ikoku, Bola Ige, Erhunse Bankole Akpata, Tunji Otegbeye and other departed Nigerian thinkers were alive today to see how the cooks of neo-colonial politics have spoilt the broth. I do not envy Allison, Ayida, Phillip Asiodu, Olufemi Okunnu, Mohammed Dikko Yusufu, Mohammed Ayagi, Balarabe Musa and others who…
APC Condemns Devaluation Of the Naira
The All Progressives Congress, APC, has criticized the Central Bank Of Nigeria, CBN, for the devaluation of the Naira, describing the development as not healthy for Nigeria’s economy. Speaking to newsmen in Abuja on Wednesday, Lai Mohammed, National Publicity Secretary of the APC said that the devaluation of the currency has its implications on the…
Jonathan Unveils N100 Commemorative Notes
President Goodluck Jonathan on Wednesday, November 12, formally unveiled the new N100 commemorative notes at the Presidential Villa, Abuja. The short ceremony, initially scheduled for last week Wednesday did not hold then because of the President’s journey to Burkina Faso. Namadi Sambo, Vice President and Godwin Emefiele, Governor of the Central Bank of Nigeria, joined…
SERAP Sues CBN Over Non-Disclosure of Boko Haram Sponsors
The Socio Economic Rights and Accountability Project, SERAP, has dragged the Central Bank of Nigeria, CBN, before a Federal High Court sittingin Lagos over its failure to expose those involved in alleged money launderingused to fund theBoko Haram terrorist group. In a suit filed by SERAP with number FHC/L/CS/1547/2014, the group is asking for a declaration that…
INEC, CBN to Collaborate on 2015 Electoral Materials
Professor Attahiru Jega, Chairman of the Independent National Electoral Commission INEC, on Wednesday, September 3, said the commission would consider ways to collaborate with the Central Bank of Nigeria, CBN on the printing of electoral materials for upcoming elections. Professor Jega said this in Abuja, while receiving the governor of the CBN, Godwin Emefiele, who…
CBN Issues New Operational Guidelines for Banks
As part of its efforts to sanitise the banking sector, the Central Bank of Nigeria, CBN, has issued a new set of corporate governance guidelines for every bank in the country. As contained in the new guideline, investors are now prohibited from owning more than five per cent stakes in any bank without prior…
Court Orders FG, SSS, Police To Pay Sanusi N50m
A federal High Court in Lagos has ordered the Federal Government, the Nigerian Police and the State Security Service, SSS, to release the passport of Lamido Sanusi, the suspended CBN Governor, and pay him N50m as exemplary damages for unlawfully seizing his passport and detaining him illegally. The presiding judge, Justice Ibrahim Buba, also ordered…
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