Tag - CBN

  LEADERSHIP Reserves Rise As Oil Hit $40pb Nigeria’s external reserves continued a steady appreciation, rising by 0.2 per cent within seven days in March as global oil price rose to $40 per barrel on Wednesday.[Read More…] Nigeria’s Oil Reserve Hits 36.2bn – DPR The director of the Department of Petroleum Resources (DPR), M.B Ladan, has …

PUNCH CBN stops forex sale to BDCs, naira sinks to 285/dollar The Central Bank of Nigeria on Monday stopped the sale of foreign exchange to all the 2,786 licensed Bureau De Change Operators across the country.​[Read More…] Govt to enforce agreements with power firms The Federal Government on Monday commenced moves to enforce all contractual agreements …

  PUNCH IMF to help Nigeria trace looted funds The Managing Director of the International Monetary Fund, Christine Lagarde, said on Tuesday in Abuja that the organisation was willing to assist the Federal Government of Nigeria in plugging revenue leakages, tracing stolen funds and restructuring the tax system.[Read More…] Naira falls to 267.5 as dollar demand …

PUNCH Oil slump: Buhari meets IMF boss, Lagarde today The Managing Director, International Monetary Fund, Ms Christine Lagarde, on Monday arrived Abuja on a four-day working visit and has been scheduled to meet President Muhammadu Buhari to discuss some of the challenges facing the Nigerian economy.[Read More…] Labour ministry alerts Nigerians to recruitment scam The Federal …

PUNCH Sterling Bank gets ISO 20000-1 certification Sterling Bank Plc says it has received the TCIC ISO 20000-1 certification in recognition of its attainment of global best practices in service management.[Read More…] DAILY SUN CBN releases N250m agric loan to Lagos cooperative members Central Bank of Nigeria (CBN) has released N250 million to Lagos State Agro-allied …

PUNCH Marketers confirm subsidy payment, explain petrol scarcity Oil marketers have confirmed that the Federal Government has paid them over N400bn petrol subsidy claims and also explained why the country is still experiencing fuel scarcity.[Read More…] Govt records N103bn shortfall in revenue allocation Statutory allocation to the three tiers of government witnessed a decline of N103.95bn …

THISDAY CBN Reviews N220bn MSME Fund Guidelines to Encourage Start-ups As part of efforts to encourage entrepreneurial ventures and new businesses in the country, the Central Bank of Nigeria (CBN) has reviewed the guidelines for its N220 billion micro, small, and medium scale enterprises development fund (MSMEDF).[Read More…] Report: Banks Struggling for Forex Liquidity The declining …

PUNCH Idle refineries slow N22bn chemicals market growth The growth of the nation’s oilfield chemicals markets is being hampered by the state of government-owned refineries, among other challenges, the Chief Executive Officer, Matrix Petro-Chem Limited, Dr. John Erinne, has said.[Read More…] Dollar scarcity: Banks cut customers’ spending abroad by 80% Nigerian bank customers who are planning …

THISDAY Withdrawal of Fuel Subsidy Begins in 2016 Pleading acute shortage of funds, the federal government Monday said it would begin a gradual withdrawal of fuel subsidy next year.[Read More…] FG’s Agencies Unable to Trace Solid Minerals Revenues, Says NEITI The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that the relevant government agencies responsible for …

PUNCH CBN plans soft loans for one million graduates The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, on Thursday announced that a low-interest loan scheme for one million young graduates would commence next year.[Read More…] Naira slides to 257 against dollar The naira fell to 257 against the dollar at the parallel market on Thursday. …