The Central Bank of Nigeria, CBN, said it returned up to N65 billion wrongly imposed excess charges on bank customers’ account s over the past seven years. The apex bank governor, Mr Godwin Emefiele, gave this hint at the Bank Customers Association of Nigeria’s (BCAN’s) 3rd Biennial Bank Customers Summit with the theme ‘Rights and […]
Tag: CBN Governor – Godwin Emefiele
CBN Bars Trading, Loan Refinancing Under New Credit Guidelines
The Central Bank of Nigeria (CBN) on Thursday unveiled new guidelines for accessing the Real Sector Support Facility (RSSF) through Cash Reserve Requirements (CRR) and Corporate Bonds (CBs) in furtherance of its policy drives targeted at enhancing the efficiency of the nation’s financial system and its stability. The objectives of the facility include to improve […]
CBN Reports N7.7Trn Growth In Assets Value In 2017
The Central Bank of Nigeria (CBN) has reported that its total assets appreciated to N29.6 trillion in 2017 from N21.9 trillion reported in 2016, representing about 35 percent growth in the 12-month period. A major contributor to the apex bank’s impressive performance as contained in its audited financial statements for the year ended December 31, […]
Anchor Borrowers’ Programme: CBN Starts Input Distribution In Cross River
The Central Bank of Nigeria (CBN), in collaboration with Cross River State Government, has commenced the input distribution for 2018 wet season farming in Cross River State and environs. The initiative is part of the apex bank’s commitment to repositioning agriculture as a business venture rather than mere subsistence engagement. The CBN Governor, Mr Godwin […]
CBN Retains Monetary Rates, Mulls Commercial Paper Investment
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) rose from its two-day meeting in Abuja yesterday, retaining all the monetary policy rates for the 12th consecutive time. Specifically, the committee decided that the Monetary Policy Rate (MPR) should still remain at 14 per cent, cash reserves ratio should be sustained at 22.5 […]
CBN Commences Yuan Forex Intervention With SMIS’ Segment
The Central Bank of Nigeria (CBN) on Friday commenced its Chinese Yuan (CNY), intervention in the nation’s foreign exchange market’s Special Secondary Market Intervention Sales (SMIS) retail segment, signaling the consummation of the Bilateral Currency Swap Agreement (BCSA) signed with the People’s Bank of China (PBoC) on April 27 this year. A statement issued by […]
CBN Supplies $331.41m Into SMIS Segment Of Forex Market
The Central Bank of Nigeria (CBN) on Friday supplied $331.41million to the retail Secondary Market Intervention Sales’ (SMIS’) segment of the foreign exchange (Forex) market as part of its sustained efforts to ensure adequate liquidity in the market The Friday’s intervention came barely 48 hours after the apex bank sold $210 million in the Inter-Bank […]
CBN Names Standard Chartered, Stanbic IBTC For Nigeria-China Currency Deal
The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has announced Standard Chartered Bank and Stanbic IBTC Bank as settlement banks in currency swap agreement between it and Peoples Bank of China (PBoC). This is even as the apex bank also announced plans to release framework for the currency swap deal between the two […]
CBN Retains MPR at 14%, Leaves Other Rates Unchanged
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) today retained the Monetary Policy Rate (MPR) at 14 percent. The Committee members at the end of their two-day meeting in Abuja also voted in favour of the retention of the Cash Reserve Ratio (CRR) at 22.5 percent, the Liquidity Ratio at 30 […]
China Signs $2.5Bn Currency Swap Pact With Nigeria
The Central Bank of Nigeria (CBN) has confirmed the execution of a $2.5 billion bilateral currency swap agreement with the Peoples Bank of China (PBoC). The deal, which was sequel to the conclusion of negotiations on Friday, April 27, between the countries’ monetary authorities, is expected to boost local currency liquidity in the economies. While […]