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Forensic Audit of CBN underway as we win back investor confidence, President Tinubu tells World Bank Chief

By Editor August 5, 2023 101

  President Bola Tinubu says a comprehensive forensic audit of the Central Bank is underway, while a thorough overhaul of the Civil Service payroll is imminent. The President disclosed this during an audience with the President of the World Bank, Mr. Ajay Banga on Friday at the Presidential Villa, Abuja. ”A comprehensive forensic audit is […]Continue Reading

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‘Withdraw regulations on customers’ social media handles or face legal action’, SERAP tells CBN

By Editor June 27, 2023 83

  Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Folashodun Shonubi, Acting Governor, Central Bank of Nigeria (CBN) to “immediately delete the patently unlawful provisions in the Central Bank of Nigeria (Customer Due Diligence) Regulations directing banks to obtain information on customers’ social media handles for the purpose of Continue Reading

Banking Blogs Business Media Top Stories Zenith Bank, Cross Rivers, Nigeria, Banking, Economy

CBN confirms evacuation of banknotes to DMBs

By Editor March 24, 2023 136 0

…Directs Banks to open their branches on Saturday and Sunday …CBN Gov to monitor compliance personally The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations. The CBN has […]Continue Reading

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No economic development without vibrant and successful small and medium enterprise sector—President Buhari

By Editor March 16, 2023 99 0

President Muhammadu Buhari Thursday declared that for any economy to grow and create jobs, an equally vibrant and successful small and medium enterprise sector was also needed, adding that it was for this reason that he recently signed the Business Facilitation Bill into law. President Buhari spoke at State House, Abuja as he received the […]Continue Reading

Banking Blogs Business Media Top Stories Zenith Bank, Cross Rivers, Nigeria, Banking, Economy

Kogi sensitises residents, fuel stations on old naira notes acceptance

By Editor March 14, 2023 107 0

The officials of Kogi Government and Stakeholders in the financial sectors, have sensitised Kogi residents on the need to accept the old naira notes in line with the Supreme Court judgment. The News Agency of Nigeria (NAN) recalls that the Supreme Court on March 3, ruled that the new and old naira notes should co-exist […]Continue Reading

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FactCheck: No, Nigeria hasn’t introduced N5,000 and N2,000 banknotes

By Editor October 28, 2022 166 0

By David Ajikobi A video posted on Facebook in July 2021 shows piles of what seem to be Nigerian naira banknotes. A hand lifts bundles of the notes to the camera, revealing that they have the insignia and name of the central bank and are in denominations of N5,000 and N2,000. A woman’s voice can […]Continue Reading

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National Economic Council Commends Nigeria Sovereign Investment Authority’s performance

By Editor August 20, 2022 117 Post a comment

Receives briefing on crude oil production & security Council sub-committee to consider Governors’ concerns over ownership of new NNPC Ltd By Daniel Adaji The National Economic Council (NEC) has endorsed a report on the 2021 financial performance of the Nigeria Sovereign Investment Authority (NSIA), commending the board and management for a credible performance despite Continue Reading

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‘What Buhari told outgoing ministers’

By Ele Ifah Sunday May 13, 2022 149 Post a comment

President Muhammadu Buhari on Friday in Abuja bade farewell to outgoing members of the Federal Executive Council (FEC), affirming that a significant number of them have been sufficiently equipped to aspire to higher elective offices, including the Office of the President. Speaking at a valedictory session for appointees leaving the cabinet to pursue political ambitions, Continue Reading

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‘What IMF says about eNaira’

By Ele Ifah Sunday November 16, 2021 155 0

By Jack Ree, IMF African Department The Central Bank of Nigeria (CBN) officially launched the “ eNaira”—a central bank digital currency (CBDC)—on October 25, 2021. This is the second CBDC fully open to the public after the Bahamas. Other countries and regions, such as China and the Eastern Caribbean Currency Union, have been conducting CBDC […]Continue Reading

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‘Nigeria is Printing Money’ – The Road to Zimbabwe

By Ele Ifah Sunday April 21, 2021 197 0

By Nick Agule Within the last week, a war of words has ensued over the management of the Nigerian economy with Gov Obaseki of Edo State firing the first salvo by accusing the FG of the catastrophic management of the economy alleging that the FG is printing money to fund federal allocations. Nigeria’s Finance Minister […]Continue Reading

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How forex rates adjustments affect Nigeria’s economy

By Ele Ifah Sunday April 9, 2021 219 0

On Friday, the Central Bank of Nigeria (CBN) ended all multiple foreign exchange (forex) rates in Nigeria and introduced a somewhat single exchange rate regime, apparently in a move to protect the naira from exchange rate depreciation as the COVID-19 continues to take huge toll on Nigeria’s crude oil earnings and foreign reserves. Some market […]Continue Reading

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Zenith Bank’s Gross Earnings Rises By 4% In H1 2020, With Interim Dividend Of 30k

By Ele Ifah Sunday September 4, 2020 176 2

Zenith Bank Plc has announced its audited results for the half-year ended June 30, 2020, as gross earnings rose by 4% from N332 billion in June 2019 to N346 billion, with an interim dividend of 30k per share to be paid to its shareholders for the half-year 2020 amid the ravaging impact of the coronavirus […]Continue Reading