The Governor, Central Bank of Nigeria, (CBN), Mr. Godwin Emefiele and Chief Executive Officer of Financial Institution Training Centre, (FITC), Mrs. Chizor Malize have been scheduled to deliver keynote and lead papers respectively at the third edition of The Industry Summit/Awards in Lagos. The Industry Summit, formerly The Industry Evening[Read More…]
Tag: central
CORPORATE STATEMENT ON THE NEW BOARD CONSTITUTION
We refer to the Central Bank of Nigeria Limited (CBN) pronouncement on the reconstitution of the Board of Directors of First Bank of Nigeria Limited. Further to the press conference held by the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele CON on Thursday, 29 April 2021, the[Read More…]
Inflation: A Ticking Bomb In Nigeria’s Rural Areas
It’s a known fact that, back in the days, there is always a big gap between the rural and urban inflation rate, but that is not the case in recent times. The rural areas have seen a very close gap in inflation rate between them and urban dwellers. This is[Read More…]
Consumers Will Boycott Luxury Items For The Next 12 Months – CBN
The Central Bank of Nigeria (CBN) has projected that most Nigerians will distance themselves from expensive and luxury items within the next 12 months. This is contained in the ‘Consumer Expectations Survey for Q4 2020’ report released by the CBN’s statistics department. It was reported that Nigerians’ overall confidence outlook[Read More…]
9PSBank To Deliver Digital Banking Experience To Customers
The management of 9PSB, has assured Nigerians in rural and urban areas of it’s readiness to deliver a quality banking experience to them as part of effort to support financial inclusion drive of the central bank of Nigeria. The assurance came during the launch of 9PSB recently in Lagos following[Read More…]
Banks Begin Charging Customers for Failed Transactions
Nigerian banks have started charging customers for failed transactions, a move that could further compound economic hardship already assailing the masses. The charges were imposed following a CBN directive earlier this year that directed banks to penalise customers who initiate direct debit transactions on their account but lack funds to[Read More…]
CBN Releases Framework for Financing of Mass Metering
Central Bank of Nigeria (CBN) has released its framework for National Mass Metering Programme (NMMP). The framework was released by the Development Financing department of the apex bank through its official website on Monday. It stated that introduction of the Service-Based Tariff (SBT) in the Nigeria Electricity Supply Industry (NESI)[Read More…]
Betting: CBN Probes Owners, Requests Account Statements
The Central Bank of Nigeria (CBN) has requested that all banks in the country submit the statements of domiciliary accounts of some high profile individuals, including owners of popular betting companies Nigeria. CBN issued the directive in a September 15, 2020 letter signed by Z. Markus for the director of[Read More…]
CBN may restrict forex for importation of hand sanitisers – Emefiele
Hand sanitisers and other anti-viral protective and hygiene products may soon be included in the list of items the Central Bank of Nigeria (CBN) has banned from accessing foreign exchange for their importation. The CBN governor, Godwin Emefiele, announced on Wednesday in Abuja that this was part of decisions being[Read More…]
CBN returns over N60 billion excess bank charges to customers
The Central Bank of Nigeria (CBN) on Thursday said it has so far recovered over N60 billion from erring banks as excessive charges imposed on customers. The bank also said it has equally returned same amount to the affected customers. This is just as the Apex Bank has announced that[Read More…]
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FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]