President Muhammadu Buhari has approved the appointment of new heads of federal institutions while extending the tenure of others.The announcement was made in a statement by Olusegun Adekunle, permanent secretary, general services office, office of the secretary to the government of the federation, in Abuja on Friday.Among the new appointees are four non-executive directors of the Central Bank of Nigeria [...]
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The Asset Management Corporation of Nigeria (AMCON) says it recovered bad loans worth N731bn, excluding clawbacks, from the start of its operations in 2010 up to December 2017.Assets in form of properties accounted for about 35 percent of the total amount recovered in the seven-year period.Ahmed Kuru, managing director, AMCON, made the disclosure while declaring open a two-day Asset Sales [...]
Visionscape Sanitation Solutions, an organisation providing solutions to waste management, has partnered with Central Bank of Nigeria (CBN) in a "bid to create solutions to plastic pollution".Speaking at an event to commemorate the World Environment Day, Motunrayo Elias, head corporate communications, Visionscape Group, said the group's collaboration with the CBN would support global climate change targets that would reduce waste generation [...]
The Central Bank of Nigeria (CBN) says it resisted strong pressures to float the naira in order to save the country during the period of economic recession.Isaac Okoroafor, spokesman of the apex bank, made the remark on Wednesday at an event organised by the Nigerian Institute of Public Relations (NIPR) in Abuja.He said the negative consequences that Egypt, Venezuela and [...]
BY NIK OGBULIEIt is on record that the Economic and Financial Crimes Commission (EFCC) has made more resounding successes in taming the growing rate of financial crimes in public institutions than have been recorded. This is because the regulations and guidelines on financial activities in the public sector are clearer. Moreover, the EFCC sees control and prosecution of public sector [...]
Laolu Akande, spokesman of Vice-President Yemi Osinbajo, says his principal is standing by the allegations of corruption he levelled against the government of ex-President Goodluck Jonathan.He said this on Monday, while reacting to a report attributed to “Jonathan’s media office” on previous allegations.Osinbajo had been accused of lying against the ex-president or his government by citing the looting of the nation’s [...]
The Central Bank of Nigeria (CBN) has captured no fewer than 31 million account customers in its bank verification number (BVN) project aimed at ensuring unique identifier in the Nigerian banking industry.Dipo Fatokun, CBN director, banking and payment system, disclosed this in a paper titled 'Nigeria’s progress towards the creation of a robust, trusted and inclusive financial services environment' delivered [...]
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the federation account allocation committee (FAAC) revenue shared among the three tiers of government should be reduced.Emefiele made the recommendation while addressing journalists after the first monetary policy committee (MPC) meeting in Abuja on Wednesday.He said the revenue can be used to protect the economy against future oil price shocks.Representatives [...]
Aishah Ahmad, Edward Adamu, and the three other newly confirmed members of the monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) have voted to retain the record-high benchmark interest rate at 14 percent.According to Godwin Emefiele, governor of CBN, who addressed a press conference in Abuja on Wednesday, the MPC unanimously voted to retain key rates.This is the [...]
The Central Bank of Nigeria (CBN) has announced April 3 and April 4 as dates for the first monetary policy committee (MPC) meeting in the year.According to THISDAY, Isaac Okoroafor, CBN spokesman, said the new dates were fixed after the senate resolved to confirm the presidential nominees needed for the committee to form quorum.“We are grateful that the senate reconsidered its stance on [...]
Muhammad Sanusi II, emir of Kano, says he earned his stars in every competitive environment.In an interview with Financial Times, the outspoken monarch recalled his days as a banker and how he was given central bank governor award four times.In June 2009, the late President Musa Yar'Adua appointed Sanusi for a five-year term but ex-President Goodluck Jonathan suspended him in February 2014 after the [...]
About 1,500 rice farmers in Daura, Katsina state, have received various farming implements under the phase 11 of the Central Bank of Nigeria (CBN) anchor borrowers scheme.Nura Baure, chairman, Daura chapter of the Rice Farmers Association of Nigeria (RIFAN), disclosed this during the distribution of farming implements to registered farmers on Thursday.Daura is the hometown of President Muhammadu Buhari.According to [...]
Kingsley Moghalu, ex-deputy governor of the Central Bank of Nigeria (CBN), has asked Nigerians to replace recycled “failed leaders” with competent and experienced youth.Moghalu said this at the Shehu Musa Yar’Adua Centre, Abuja, on Wednesday while making a formal declaration of his presidential bid.He stated his visions, as laid out in his recently launched book, ‘Build, Innovate and Grow: My [...]
Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria (CBN), says he is consulting widely to run for the presidency in 2019.Moghalu told political correspondents in Lagos that time had come for technocrats, intellectuals and experienced people to take power from career politicians.He said he would not be deterred from joining the race, in spite of speculations [...]
The sale process of 9mobile, formerly known as Etisalat, hit a new turn on Tuesday as Bharti Airtel and Helios Investment Partners LLP petitioned industry regulators over alleged "irregularities".According to Technology Times, both companies have asked regulators in the telecoms and banking sector to probe the ongoing sale process.Umar Danbatta, deputy vice-chairman, NCC, Godwin Emefiele, governor, Central Bank of Nigeria [...]
Investor sentiment towards the Nigerian economy was dealt a slight blow, after the MPC cancelled the January meeting due to their “inability to form a quorum”.Although the missed central bank meeting is likely to have little impact on the economy, it has the potential to reinforce market concerns over the nation’s poor policy management. An unwelcome return of political risk and uncertainty amid [...]
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