The Central Bank of Nigeria yesterday stepped up its fight to boost foreign exchange liquidity in the economy with a new circular mandating Deposit Money Banks to stop the use of foreign currencies as collateral for naira loans within 90 days. The development happened as the naira rose against the greenback at both the official […]
The Central Bank of Nigeria has written to all banks in Nigeria to stop the use of foreign currencies as collateral for naira loans. It disclosed this in a circular titled, “The use of foreign-currency-denominated collaterals for naira loans” with ref number: BSD/DIR/PUB/LAB/017/004. The circular was signed by the apex bank’s acting Director, ...
•Shettima The governments of Nigeria’s 36 states and the Federal Capital Territory owe the federal government an outstanding liability of N1.72tn in budget support facilities. The figures were revealed in a presentation on state budget support facility by Office of the Accountant General of the Federation, at the 140th meeting of the National ...
The House of Representatives has mandated its committees on Power, Banking Regulations, Rural Electrification Agency, Housing and Habitat, to investigate the disbursement and use of funds under the National Mass Metering Program (NMMP) by the Central Bank of Nigeria (CBN) to the Licensed Electricity Distribution Companies (DISCOs). This follow...
•National Assembly complex, Abuja The Rivers State Tax Justice and Governance Platform (TJGP), in collaboration with Christian Aid (CA) and the Civil Society Legislative Advocacy Centre (CISLAC), has called on the National Assembly to urgently investigate all International Monetary Fund (IMF) loans received by the country. The call is necessit...
•Governor Francis Nwifuru Ebonyi State Governor, Francis Nwifuru, has approved the payment of an additional one hundred and fifty thousand naira monthly allowance to all state-employed medical doctors. The governor gave the approval and immediate payment on Monday in his office, new government house, Abakaliki, when he received in audience the...