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Borno REC Retrieves Election Materials, Deposits Same at CBN

BY REMILEKUN DARAMOLA in Maiduguri• The Independent National Electoral Commission (INEC) Resident Electoral Commissioner in Borno State, Malam Mohammed Ibrahim has...

CBN Confirms MTN Repatriated US$8,1bn Between 2007 and 2015

As previously communicated, the Central Bank of Nigeria has alleged improper repatriation by MTN Nigeria Communications Limited (“MTN Nigeria”) of US$8,1...

CBN Plans to Stabilise Naira as it Slides to N368/$1

As part of the efforts to address the rising demand for the dollar, the Central Bank of Nigeria (CBN) has announced special intervention of foreign exchange sales to...

Senate Concerned over New CBN Prescribed minimum capital for MFBs

The Senate Committee on Banking, Insurance and Other Financial Institutions says it is concerned over the new minimum capital requirement prescribed for various...

Banks Lose N12.06bn to Fraud in 6 Months, Says CBN

*Tension as 3 banks fail liquidity ratio requirement The Central Bank of Nigeria (CBN) has revealed that commercial banks in the country lost a total of N12.06 billion...

Ebonyi Govt Launches Probe into N2bn CBN Agric Loan

Ebonyi state government says it has commenced probe into the disbursement of N2billion Central Bank of Nigeria (CBN) commercial agricultural credit scheme for 2016 dry...

CBN sets N6bn Minimum Capital for Proposed Mortgage Guarantee f Firms

The country’s apex bank , the Central Bank of Nigeria (CBN), last week unveiled an exposure draft to regulate the operations of Mortgage Guarantee Companies...

CBN Pumps $334m into SMIS

Further to its commitment to ensure stability in the inter-bank foreign exchange market, the Central Bank of Nigeria (CBN) has intervened in the Retail Secondary Market...

CBN to Disburse N220bn to Enterprises Development Fund

To empower the small business sector of the economy, the Central Bank of Nigeria (CBN) said it had set aside N220 billion to be disbursed as loans to cooperative...

CBN Pegs Benchmark Interest Rate at 14%

BY BUKKY AKINDELE The Central Bank of Nigeria (CBN) has kept its main interest rate on hold at 14 percent to counter inflationary risk and introduced an initiative aimed...