A coalition of civil society organisations in the South-south has threatened to sue the Federal Government over its refusal to pay commission to one John Okupurhe who allegedly exposed over $1bn (N420bn) hidden in Unity Bank Plc. The civil society organisations under the aegis of South-South Anti-Corruption Watchdog (SACW) on Monday in Benin City, Edo…
Over N30 billion Disbursed by CBN to Boost Palm Oil Production – Emefiele
Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has bemoaned the current situation in the country’s oil palm industry and expressed the determination of the bank to change the narrative. Underscoring the importance of oil palm as a tree crop with immense economic value, Emefiele noted that its products are important sources of…
CBN Calls for Revival of Moribund Industries to Create Jobs
Retains MPR at 13.5 % The Central Bank of Nigeria, CBN, says there is need to resuscitate moribund industries in Nigeria and improve key infrastructure in order to strengthen the productive base of the economy, create job opportunities as well as boost exports. This was contained in a communique issued at the end of its…
MPC Cuts Monetary Policy Rate to 13.5%
The Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, has reduced the Monetary Policy Rate, MPR, by 50 basis points to 13.50 per cent from 14 per cent. CBN Governor, Godwin Emefiele, disclosed this on Tuesday at a press conference to mark the end of a two-day MPC meeting held in Abuja.…
CBN to Raise N1.006tn From Debt Market
The Central Bank of Nigeria, CBN, is to raise a total of N1.006 trillion from the debt market in the second quarter of 2019. This was contained in a data on the Nigerian treasury bills issue programme for the second quarter of 2019 published on its website on Tuesday. The CBN sells treasury bills twice…
Nigeria: Still Investors’ Haven
Despite the lull in economic activities due to lack of clear policy direction and the delisting of Nigerian bonds by JP Morgan, the Central Bank and financial experts insist that the economy remains attractive to foreign investors To many Nigerians, the nation’s economy is in dire straits owing to lack of clear economic policies and…
Emir of Kano Asks Residents To Fight Boko Haram
The Emir of Kano, Sanusi Lamido has challenged residents of the Boko Haram troubled areas to rise to the task by defending themselves against the Islamic extremists ravaging the North-Eastern parts of Nigeria. The Emir made the call in a prayer meeting in Kano noting that residents should not expect soldiers to protect them from…
Federal Government Appoints Emefiele As CBN Governor
Godwin Emefiele, the chief executive officer, Zenith Bank Plc, has been appointed as substantive Governor of the Central Bank of Nigeria, CBN. He replaces Sahusi Lamido Sanusi, who was suspended this morning by President Goodluck Jonathan. Bayo Adelabu, executive director, First Bank Plc has also been named deputy governor, replacing Tunde Lemo. The names of the…
President Jonathan Suspends CBN Governor Sanusi
In what appears to be a tale of the hunter being the hunted, Lamido Sanusi, governor, Central Bank of Nigeria, CBN, has been suspended by President Goodluck Jonathan. Sanusi who has been having a running battle with the petroleum ministry and the Nigerian National Petroleum Corporation, NNPC, over his allegations of $20 billion missing…
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