CBN commences chinese Yuan forex intervention
The Central Bank of Nigeria (CBN) yesterday flagged off its intervention in the sale of foreign exchange in Chinese Yuan (CNY), signaling the consummation of the Bilateral Currency Swap Agreement (BCSA) signed with the People’s Bank of China (PBoC) on April 27.
CBN intensifies fight against currency abuse in Imo
Worried by the increasing menace of the currency abuse, including spraying, matching, and other forms of destruction of the nation’s Naira, the Central Bank of Nigeria (CBN), Governor, Godwin Emefiele, has warned everyone to be mindful of how they use the currency. Represented by the Acting Director, Corporate Communications of the CBN, Isaac Okorafor, during…
Beware of fraudsters parading as bankers, association warns
The Oyo State Chairman, National Association of Micro Finance Banks, Femi Jegede, has warned Nigerians seeking financial support to be wary of fraudsters, who parade themselves as operators of microfinance banks in Nigeria. He said many conmen were now moving around in uniforms seeking to defraud unsuspecting and innocent traders in the name of helping…
CBN auctions $210m at forex market
Central Bank of Nigeria (CBN) on Tuesday injected $210 million into the inter-bank foreign exchange (forex) market. It offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got $55 million. Another $55 million was allocated to invisibles such as tuition fees, medicals and…
At induction, businesses, organisations urged to adopt BPM
To provide technical and professional knowledge, as well as ensure value delivery to the public through effective management and practice, a Business Process Management Institute (BPMI) has birthed in Nigeria.
NNPC, others sign NLNG Train-7 contract
President Muhammadu Buhari has signed the Nigerian Financial Intelligence Unit (NFIU) Bill into law, which is expected to strengthen the Executive Order 6 and as well help to tackle terrorism financing. Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, who stated this yesterday while briefing State House Correspondents, said NFIU…
CBN and rapid inclusive growth
The 2018 Appropriation Act fixed the naira exchange rate (AAR) of N305/US$1 (the same as in 2017) and raised the benchmark oil price to $50.50/barrel from the initially proposed $45/barrel.
CBN renews mandate of Skye Bank board for another two years
The Central Bank of Nigeria (CBN) has renewed the mandate of the Board of Skye Bank for additional two years.The Board has Mr. M.K Ahmad and Tokunbo Abiru as its Chairman and Group Managing Director respectively.