(Published in the Nigerian Tribune on Monday, 9 May, 2022) Today is the 35th anniversary of the transition of the sage, Chief Obafemi Awolowo. A sage is “a profoundly wise person; a person famed for wisdom.” A sage is also he that is “venerated for the possession of wisdom, possession of judgment and of experience.”…
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…
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.…
Why CBN Revoked Skye Bank License
The Central Bank of Nigeria, CBN says it revoked the license of Skye Bank after examinations and forensic audit that revealed that the bank requires urgent recapitalisation. Godwin Emefiele, Governor of the CBN also disclosed that Skye Bank can no longer continue to live on borrowed times with indefinite liquidity support from the CBN. According…
Power: CBN Pays Another N7bn for Gas
The Central Bank of Nigeria, CBN, on Friday, disbursed additional N6.9bn to five gas suppliers, one power generation company and one power distribution company. The money, which is the third in the series of disbursements made under the N213 billion Nigerian Electricity Market Stabilisation Facility, brings the total amount given by the CBN, under the…
Jonathan Unveils N100 Commemorative Notes
President Goodluck Jonathan on Wednesday, November 12, formally unveiled the new N100 commemorative notes at the Presidential Villa, Abuja. The short ceremony, initially scheduled for last week Wednesday did not hold then because of the President’s journey to Burkina Faso. Namadi Sambo, Vice President and Godwin Emefiele, Governor of the Central Bank of Nigeria, joined…
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