Financial analyst; Wole Oluwo, has decried the retention of the nation's Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN), at 12 percent saying that a trade off might soon occur from the failure of the regulatory authorities to balance the achievement in other economic indicators such as the exchange rate and foreign reserve with a high interest rate. Mr Oluwo on Channels Television's Busines ...

The Central Bank of Nigeria (CBN) is teaming up with the International Finance Corporation to boost the compliance rate of Nigerian lenders on sustainable banking. The special adviser to the CBN governor, Dr. Aisha Mohammed who disclosed this in Abuja, said the Bankers’ Committee in collaboration with the apex bank has already adopted the sustainable banking principle given in July, last year. She adds that ...

The International Monetary Fund (IMF) says it foresees the Central Bank of Nigeria (CBN) building the nation’s reserves to a high of at least $80 billion in the next four years. IMF senior resident representative; Scott Rogers, says the forecast is based on the fact that federal government remains committed to its stated intentions in the medium term expenditure framework as well as IMF’s assumption of sing ...

The Governor of the Central Bank of Nigeria (CBN) Sanusi Lamido Sanusi on Wednesday said huge spending on security and use of guns by security forces would not guarantee security of lives and property of Nigerians. The governor said this in a lecture paper he delivered at the Abia Youth Empowerment Summit in Umuahia. He called for a more proactive measure to curb insurgency in the country, stressing that go ...

Years after spending millions of Naira on campaigns and migration of the nation’s currency from paper prints to polymer notes, the Central Bank of Nigeria (CBN) has announced that it is ready to stop the printing of small denomination naira in polymer notes. The deputy governor, banking supervision, Tunde Lemo, in a statement on Sunday said the apex bank decided to scrap the polymer notes because they fade ...

Governor of the Central Bank of Nigeria (CBN), Mr Lamido Sanusi has asked the federal government to come up with sound policies in the education sector which he says is a prerequisite to address the spate of insecurity in the country. Mr Sanusi who spoke at a meeting in Abuja said that over three per cent of girls in northern Nigeria who start school fail to complete their education. And as a way of empower ...

The continued existence of the Asset Management Corporation of Nigeria (AMCON) does not constitute a “moral hazard” or fiscal risk to the financial system, because the Central Bank of Nigeria (CBN) ensures that banks lend in a prudential manner. This is according to the managing director of AMCON, Mr. Mustafa Chike-Obi, in an exclusive interview today with Channels Television. Mr. Chike-obi who was respondi ...

The International Monetary Fund (IMF) has recommended the winding down of the operation of the Asset Management Company of Nigeria (AMCON) as soon as possible. This recommendation is contained in the just released summary of the IMF’s Article 4 consultation report. The fund commended the Central Bank of Nigeria’s (CBN) success in restoring financial stability after the 2009 banking crisis but says the windi ...

The governor of the Central Bank of Nigeria (CBN), Mallam Lamido Sanusi Lamido has said that he will not renew his contract when it expires. According to a report by CNBC.com, Sanusi said he was never interested in staying longer than a term. After an audit found evidence of mismanagement of funds by some banks, Sanusi fired the MD's of eight banks, in recent times he has been able to push stability in the ...

Nigeria’s foreign exchange reserves rose to its highest in four years and grew by 3.8 per cent month on month to $47.02 billion as at February 21. The latest data from the Central Bank of Nigeria (CBN) revealed that the country’s forex reserves were $45.26 billion a month earlier while they rose by 34 .99% from a year ago when $34.83 billion were recorded. Currency dealers say the apex bank has been spendin ...