Fresh facts emerged over the weekend that cash-trapped Deposit Money Banks and Discount Houses went into aggressive borrowing from the Central Bank of Nigeria (CBN), accessing a whooping N3 trillion through the Standing Lending Facility. This is in contrast to ₦493.6 billion deposited by a few lenders through the CBN’s Standing Deposit Facilit...
The Central Bank of Nigeria (CBN) has directed payment service providers to begin the tracking of all Point of Sale (PoS) transactions. In a circular to all Payment Service Providers (PSPs) on connectivity to payment terminal service aggregators, the apex bank handed a 30-day deadline to PSPs to regularise with Payment Terminal Service Aggrega...
A high-level tripartite committee of the three major regulators of the financial services sector has been formed to scrutinise new funds being raised by banks under the ongoing recapitalisation in the banking sector. Members of the committee are drawn from Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC) and Nigeria Depo...
•CBN Governor Olayemi Cardoso A report from the Central Bank of Nigeria has warned of more financial strain for Nigerians. The report noted that more Nigerians may rely on borrowing to cover increasing expenses over the next six months, reports The PUNCH. The report indicated that household expenditures will continue to rise through the remain...
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN) has lifted its suspension on banks borrowing from its window, known as the Standing Lending Facility (SLF). The apex bank also pegged the lending rate at 31.75 percent sequel to to decisions made at the 296th meeting of the Monetary Policy Committee (MPC) of the […]
The Central Bank of Nigeria (CBN) has given a node for the merger arrangement between Unity Bank Bank and Providus Bank. The bank’s spokeswoman, Mr. Hakama Sidi Ali gave the indication in Abuja, last night. A statement by Mrs. Sidi Ali reads in full, “The Central Bank of Nigeria (CBN) has granted approval for a […]
•CBN Governor, Olayemi Cardoso The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark lending rate to 27.65 per cent. The hike in the Monetary Policy Rate was disclosed by the Governor of the CBN, Olayemi Cardoso, at the end of the 296th MPC meeting in Abuja today, reports The PUNCH. […]
The federal government through the Office of the Accountant General of the Federation has mandated all FG-owned Ministries, Departments, and Agencies to remit five percent retention fees deducted from contractors’ payments at the Central Bank of Nigeria. A memo signed by the Accountant General of the Federation, OluwaToyin Madein, tagged OAGF/...
The Central Bank of Nigeria has commenced sales of forex to Bureau De Change operators after a four-month hiatus. This was after the apex bank confirmed forex sales of $122.67m to 46 authorised dealers today, reports The PUNCH. A statement signed by the Bank’s Director in charge of Financial Markets, Dr Omolara Duke, said the […]
•Emefiele goes to court An Assistant Manager with Zenith Bank Plc, Mrs Ifeoma Ogbonnaya, has revealed that the embattled Central Bank of Nigeria (CBN), Governor Godwin Emefiele, and his wife Margaret, were not signatories to the account alleged to have been owned by them. Emefiele is standing trial over abuse of office and alleged $4.5 [&helli...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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