The Central Bank of Nigeria’s Monetary Policy Committee will leave interest rates unchanged for the 17th time in a row on Tuesday as it tries to balance controlling inflation and supporting the naira with fostering growth, Reuters reported quoting its pol
The Monetary Policy Committee (MPC) will be meeting on the 21st and 22nd July, 2014 (the first meeting to be chaired by the new CBN Governor, Godwin Emefiele) to discuss developments in the global and domestic economy and deliberate on appropriate monetar
Further to our Circular ref: FPRD/DIR/GEN/CIR/01/009 of June 23, 2014 on “New Requirements for the Operation of Bureau De Change in Nigeria”, the Central Bank of Nigeria, based on representations from stakeholders
In continuation/support of its recovery based on a strong emphasis on solid growths in key areas of its banking operations, Wema Bank Plc announced over the weekend the anticipated new credit lines/development finance for its customers.
Nigeria's central bank has intensified work to address the current state where it has inadvertently created a huge arbitrage in the FX market and consequentially, aided the dollarization of the economy.
The Central Bank of Nigeria, in a bid to correct observed deficiencies in the operation of Bureaux de Change (BDCs) in Nigeria which have led to gross inefficiencies and sharp practices in the foreign exchange market, has taken steps to check the growing
The past five years have been a time of change for Nigeria’s banks but not all of it for the good. In a recent report on the sector, analysts at Ecobank Research, part of the pan-African banking group, say strategies being pursued by Nigerian banks are no
The 2009 financial crisis, which coincided with the global asset bubble, was one which weakened the solvency and liquidity of Nigerian banks, and significantly undermined investor-confidence. The crisis affected approximately 40% of the total banking sys-
The IMF Article IV is an annual country surveillance report which provides recommendations on a broad range of issues including fiscal, monetary and exchange rate policy; health care, pension, and labor market policy (including wages, unemployment compens
Following the exit of the former Governor of the Central Bank of Nigeria (CBN) Mallam Sanusi Lamido Sanusi (Mallam Sanusi), the interim management, headed by Dr. (Mrs.) Sarah Alade the Deputy Governor in charge of monetary policy, has been steering the af
A large number of adults in developing countries lack access to formal financial services but there are many things that are required to reduce the number across nations. This study investigates through the use of questionnaire, the extent to which adults
The Monetary Policy Committee (MPC) met on March 24 and 25, 2014 against the backdrop of challenging monetary policy environment; particularly, in the emerging markets and developing economies; coupled with the unfolding risks to stability in the domestic
The first post-Sanusi MPC meeting will hold next week on the 24-25th of March and the markets await the outcome of the meeting with fingers crossed. The major concern for the committee remains exchange rate stability and the depleting external reserves le
Speaking at a Chatham House conference on Monday, Jon Cunliffe, Deputy Governor, Financial Stability, surveys the progress that has been made by international standard setters since 2008 in making the financial system safer, sets out the further steps tha
The Central Bank of Nigeria (CBN) may adopt a mixed bag of depreciation of the naira and further tightening of the Cash Reserve Requirement (CRR) on public deposits at its March 17 meeting to stabilise the monetary system, Managing Director, Financial Der
The Asset Management Company of Nigeria was established in 2011 as a macroeconomic stabilizing institution. This was at a time of a global economic and financial crisis, the worst since the Great Depression. In Nigeria, it was a time of a multidimensional
The Central Bank of Nigeria (CBN) has approved the liquidation of 83 micro-finance banks, Alhaji Umaru Ibrahim, the Managing Director, Nigeria Deposit Insurance Corporation (NDIC), said on Tuesday in Abuja.
The Federal Government of Nigeria (FG), through the Special Adviser to the President on media and publicity, Dr. Reuben Abati, has announced the suspension of Mallam Sanusi Lamido Sanusi, the Governor of the Central of Nigeria (CBN). Dr. Sarah Alade, bein
Gabon to issue new Eurobond. The Gabonese Republic announced earlier this week that it would issue a new 10-y Eurobond at a minimum yield of 6.125% and partially exchange 2017 bonds for the new 2024 notes. The minimum specified amount of the new Eurobond
When the Monetary Policy Committee met on July 22nd and 23rd 2013 to review the economic conditions and challenges that confronted the Domestic Economy in the first half of the year, particularly since the last MPC meeting in May 2013 and to determine whe
At its final meeting of the year, the Monetary Policy Committee (MPC) of the CBN left key policy tools unchanged in line with our expectations. In particular, with the news of the choice given to banks on the means of AMCON bonds repayment we tilted in fa
FIRSTBANK LTD (First Bank Commercial Banking Group or the Bank), a subsidiary of FBN Holdings Plc announces today that it has completed the acquisition of a 100% equity interest in ICB GHANA, ICB SIERRA LEONE, ICB GUINEA and ICB GAMBIA from INTERNATIO
The Monetary Policy Committee of the CBN was reconstituted following passage of the new Central Bank of Nigeria Act 2007 into law by the National Assembly. The committee is currently composed of 12 members with the CBN Governor serving as its Chairman.
Union Bank of Nigeria today reported to the Nigerian Stock Exchange that it has received from the Central Bank of Nigeria (CBN) the approval to go ahead with its plans for complying with CBN’s Regulation 3 on the Scope of Banking Activities and Ancillary
Financial Institutions such as banks form the core of a country’s financial system and as such healthy and profitable institutions help to build the economy, and strongly contribute to the stability and resilience of the entire financial system.