NIRSAL Microfinance Bank (NIRSAL MFB), has disbursed over N503 billion to over 1million Nigerians and businesses largely through the Federal Government’s COVID-19 intervention fund to cushion the impact of the COVID-19 pandemic on households and small businesses. Figures from the NIRSAL MFB showed that the bank disbursed N503,273,000,000 as loans to 1,053,215,837 beneficiaries, including individuals […]
The Central Bank of Nigeria (CBN) on Thursday disclosed that as a result of the Federal Government’s commitment to agricultural sector’s growth and its sundry interventions in the sector, the nation’s food import bill dropped by $2.84 billion over the past few years. Giving this hint at a One-day Stakeholders’ Sensitisation Workshop on the National […]
The much awaited Nigeria’s central bank digital currency (CBDC), the eNaira, on Monday formally becomes a legal tender of transaction following its formal launch by President Muhammadu Buhari at the State House in Abuja. In his opening remarks at the event, the President commended the apex bank’s board and management for their efforts towards ensuring […]
The Central Bank of Nigeria (CBN) on Friday disclosed that it had earmarked N200 billion to support the healthcare sector in view of its critical roles in the current drive to sustain the nation’s economic recovery. The apex bank governor, Mr, Godwin Emefiele, made this disclosure at the inauguration of Duchess International Hospital, a newly […]
The Chairman of Nigeria’s body of bank chief executive officers, Dr. Herbert Wigwe has been awarded Juris Law award for his contributions to corporate governance and rule of law in the nation’s banking industry. The prestigious award was presented by the Juris Law Office in collaboration with the National Judicial Institute to Wigwe, who is […]
The Central Bank of Nigeria (CBN) on Wednesday disclosed the country’s payment system attracted about $500 million worth of investments between 2015 and 2020. The apex bank Governor, Godwin Emefiele, gave this hint in his address on the theme, ‘Trends in Nigeria payments system: Regulating the Fintech Digital Playing Field’, at the ongoing CBN’s 31st […]
The Central Bank of Nigeria (CBN) on Monday launched a website to facilitate the use of Nigeria’s electronic currency –eNaira- as a means of financial transactions globally. The launching of the website was part of the apex bank’s preparations for the use of the electronic currency in Nigeria as a means of financial transaction. The […]
Barely a week after the Central Bank of Nigeria (CBN) projected that Nigeria’s economy would record between 2.5% and 3% GDP growth by year end, JP Morgan, a global banking giant, has predicted that the economy may not record more than half of the apex bank’s projection, estimating that it may record a mere 1.5% […]
The Central Bank of Nigeria (CBN) has described calls for the resignation of the Governor, Mr Godwin Emefiele, over issues relating to the exchange rate of the Naira as nothing but frustration cries by those who have and are still benefitting from rent-seeking practices in the parallel forex market. Specifically, the apex bank linked the […]
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, on Tuesday predicted that Nigeria’s economy would record between 2.5% and 3.0% growth this year despite the lingering impact of COVID-19 pandemic across all the broad sectors of the nation’s economy. Specifically, the top banker said that the apex bank was targeting a 15 percent inflation […]