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Tag Archives: CBN

Heritage Bank On Mission To Economic Revival

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Heritage Bank Limited is leveraging on providing excellent services to its customers. It prioritises entrepreneurship, easy access to credit and support for non-oil export and innovative banking. Its N3 billion Youth Entrepreneurship Development Programme (YEDP), which it executes with the Central Bank of Nigeria (CBN), points to its commitment to the country’s economic transformation, writes COLLINS NWEZE. WHEN Heritage Bank ...

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Police Arrest Leader Of Gang That Kidnapped CBN Governor’s Wife

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The Inspector General of Police Intelligence Response Team (IRT) has arrested the tenth member of the gang responsible for the September kidnap of Mrs. Margaret Emefiele, wife of Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN). Umar Abubakar, suspected kidnapping gang leader This was disclosed in a press statement signed by Force Public Relations Officer, Deputy Commissioner of ...

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$29.9bn Loan: Presidency Replies Emir Sanusi

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The Presidency has said that the proposed external borrowing of 29.9 billion dollars by the government is meant for the execution of developmental projects across the country. Malam Garba Shehu, the Senior Special Assistant on Media and Publicity to the President, stated this in a statement issued in Abuja on Saturday night. The Presidential aide was reacting to the Emir ...

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Zamfara State: Assembly want impeachment of Governor Yari

Impeachment proceedings against Governor Abdulaziz Yari of Zamfara State has been launched. It was gathered that Zamfara House of Assembly has listed six impeachable offences committed by the governor, which prompted it to mull impeachment. According to the Chairman of the Assembly’s Committee on Information, Alhaji Mannir Gidan-Jaja, the governor misappropriate  billions of naira from the state coffers. It listed ...

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FG to train 250 youths on fashion designing

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The Federal Government in its bid to create work and improve the country’s economychas partnered with a fashion company, BZ to train not less than 250 youths on fashion designing. The programme to be organised in collaboration with the Central Bank of Nigeria (CBN), the Federal Ministry of Trade and Industry, Ministry of Youth and Sports through the Office of ...

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“Skye Bank for sale”

In its bid to protect Skye Bank from total collapse, the Nigerian apex bank, Central Bank of Nigeria, CBN, has taken over its management pending when a buyer is found. New Telegraph reports that CBN made the decision because the commercial bank has been deemed ‘unhealthy’ and it Board has been dossolved. The bank is thought to have an estimated ...

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Breaking: Skye Bank’s MD, other top officials resigns

Following entral Bank of Nigeria (CBN) discreet on removing directors of some commercial banks that have demonstrated a level of distress in the last few months, the Managing Director, Rotimi Oguntayo and some top management of Skye Bank of Nigeria has resigned. Rotimi’s resignation with others, was a pre-emptive action by the bank to avoid a total clampdown by the CBN as it plans ...

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PMB frown at naira devaluation

Despite the implementation of flexible exchange rate policy which has resulted to naira devaluation, President Muhammadu Buhari (PMB) has obviously frowned at the decision, saying is of no benefit to the country. According to the PMB, he was not comfortable with the reports from the Central Bank of Nigeria (CBN) for the devaluation of the naira. “What do we derive from ...

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Breaking News: Finally, CBN setting stage to devalue Naira

Nigeria’s central bank said it will allow the naira exchange rate to be market-driven, setting the stage for a devaluation of the currency when the new system comes into effect June 20. Vanguard newspaper reports that the Central Bank of Nigeria will select a group of around 10 primary dealers through which the naira will be traded, reports Bloomberg. ATM-Naira-and-Dollar ...

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CBN to introduce flexible exchange rate policy

To stave off recession in the economy, the Central Bank of Nigeria (CBN) is to adopt a flexible exchange rate policy. This, the Monetary Policy Committee (MPC) yesterday said, is to restore the automatic adjustments properties of the exchange rate. Addressing journalists at the end of the bi-monthly MPC meeting in Abuja,  CBN Governor Godwin Emefiele said: “The foreign exchange ...

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