In the absence of an approved budget for 2019, the Central Bank of Nigeria (CBN), will today, lead the way with a policy decision that revolves around interest rate and sustenance of interventions for frailties of fiscal authorities. The Monetary Policy Committee of the apex bank would come up with a decision in its first…

With the near completion of Dangote’s Fertilizer plant scheduled to become operational by May 2019, and the refinery, a year after, the Federal Government has stated that importation of such commodities will cease while the nation’s import bill will reduce significantly. Besides, the Central Bank of Nigeria (CBN) has stated that it would increase the…

National Financial inclusion stakeholders, led by the Central Bank of Nigeria (CBN), will converge on Thursday and Friday, this week, in Abuja, for the launch of key policy documents aimed at facilitating the attainment of 80 per cent inclusion rate by 2020. The Policy documents to be unveiled at the conference expected to attract over…

Attempts to remove, by administrative procedures, the autonomy and independence, which the Central Bank of Nigeria (CBN) enjoys by virtue of Section 1(3) of its Act of 2007 may have surfaced, after all. And this is curious at this time when the economy is facing some stress and global attention. The other day, the Director…

Commentary on the Foreign Exchange (FX) market with data for the week-ended January 4, 2019. ▪ The Central Bank of Nigeria (CBN) intervened through its periodic injection of United States (US) Dollars in the FX market, offering a total of $210.00 million to the FX market via the Secondary Market Intervention Sales (SMIS) held on…

On the 5th of October 2018, the Central Bank of Nigeria (CBN) released for comments an exposure draft of their newly proposed guidelines for the licensing...

Apparently in response to my earlier widely publicized write-up, When a regulator aids and abets illegalities, the spokesman of Central Bank of Nigeria (CBN) and his colleague, the Director of Banking Supervision were on Channels Television programme “Sunrise” the other day, in what turned out to be defending the indefensible. What the CBN big wigs…

Standard Chartered Bank appointed Mrs. Bola Adesola the Senior Vice-Chairman, Africa, with immediate effect, following Statutory and Regulatory approvals.   In this new capacity, she will be responsible for supporting the execution of the bank’s strategic intent within the Africa region, including representing Standard Chartered Bank on various boards in Africa. She will also lead…

Agusto & Co, Nigeria’s foremost rating company has assigned a B+ rating to Crownrise Finance Plc. The rating, according to the rating company, is supported by adequate capitalisation of Crownrise Finance Plc and the expected improvement in the funding profile, increased earnings and profitability. “This also represents a positive outlook for investors in our medium…

Family of the late law graduate student of Stamford University, Nabil Hanga, has approached a Lagos High Court in Igbosere, alleging negligence in his death. The 26-year-old graduate student died aboard a flight arranged by De Flight Medics, commonly known as Flying Doctors. The witness, Mrs. Fatima Abdurrahman, told the court presided over by Justice…

The Central Bank of Nigeria (CBN) has signaled readiness to battle uncertainties in 2019, following reversals in global growth projections for 2018 and 2019 to 3.7 per cent from the 3.9 per cent earlier projected. In emerging market, where Nigeria plays alongside the big factors like Argentina, Brazil, Iran, Turkey, and South Africa, among others,…

Unlike some months and even years ago, insurgents in the northeast appear to be shifting their attacks from soft targets- civilians, Internally Displaced Persons (IDPs) camp and hapless communities- to hard targets, including military bases and formations across the region. In the last few weeks, different groups of insurgents have attacked military bases in Borno…