The Retail Secondary Market Intervention Sales (SMIS) received a boost of 280.04 million dollars and 28.3 million Chinese Yuan from the Central Bank of Nigeria (CBN) reports Guardian.ng The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor, made this known in a statement in Abuja on Friday. “CBN also injected CNY 28.3 million in the…
The Deputy Governor Central Bank Of Nigeria Mr Lametek Adamu has called on the attention of the public regarding issues arising from fake email addresses sending out mail and requesting deals in the name of the Deputy Governor. According to the report issued by the nation’s bank through Mr Isaac Okorafor, Director Corporate Affairs. The…
In a statement issued by the Head, Communication and Public Affairs of the NDIC, Mr Mohammed Ibrahim, on Friday in Abuja. The Minister of Finance, Mrs Zainab Ahmed, urged the Central Bank Of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to apply due diligence and legal procedures in investigation and prosecution of directors that…
Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., said; the retention of the Monetary Policy Rate (MPR), the Cash Reserve Ratio (CRR) and the liquidity ratio were expected as a result of the rise in inflation rate. Kurfi said that the many factors not excluding the planned minimum wage elevation and election…
The Central Bank Of Nigeria has warned the nation’s banks against recirculation of unfit bank notes, saying that it would impose stringent penalties on any bank that goes against the stipulated standards. The CBN made this public in the Banknotes guidelines issued yesterday alongside Clean Notes Policy. The documents were signed by Deputy Governor Operations,…
Emefiele’s warning is coming on the heels of increasing transactions in cryptocurrencies in Nigeria. Data from LocalBitcoins, a Bitcoin start-up company, showed that Nigeria came second in the world’s peer-to-peer (P2P) Bitcoin transactions last year outpacing major European countries, the United Kingdom and the United States of America. Emefiele however warned that: “Cryptocurrency or bitcoin…
