Thursday, May 23, 2019

Tag "cbn"

    Reps ask CBN to sanction 16 banks for ‘withholding N1.6bn stamp duty revenue’

Reps ask CBN to sanction 16 banks for ‘withholding N1.6bn stamp duty revenue’

Some members of the house of representatives has asked the Central Bank of Nigeria (CBN) to sanction 16 commercial banks for underemitting stamp duty revenue to the tune of N1.6 billion.They also asked the CBN to ensure the banks pay the outstanding revenue together with interests.They made the call on Thursday after adopting the report of the ad hoc committee [...]

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    CBN, NIBSS, NIPOST account for N35.2bn stamp duty revenue, deny withholding N20trn

CBN, NIBSS, NIPOST account for N35.2bn stamp duty revenue, deny withholding N20trn

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    Senate panel endorses Emefiele for second term, dismisses ‘stolen’ N500bn allegation

Senate panel endorses Emefiele for second term, dismisses ‘stolen’ N500bn allegation

The senate committee on banking, insurance and other financial institutions has approved of a second term for Godwin Emefiele, governor of the Central Bank of Nigeria (CBN).While screening Emefiele on Wednesday, members of the committee dismissed the allegations of stolen N500 billion at the apex bank.Rafiu Ibrahim, its chairman, said the allegations were targeted at "bringing you (Emefiele) down because  [...]

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    HEDA demands ‘high-level probe’ of CBN’s leaked audio

HEDA demands ‘high-level probe’ of CBN’s leaked audio

The Human and Environmental Development Agenda (HEDA), a civil society group, has asked President Muhammadu Buhari to order an investigation into the allegation stolen N500 billion in the Central Bank of Nigeria (CBN).An audiotape of an intercom telephone conversation between Godwin Emefiele, CBN governor; Adamu Lamatek, the deputy governor of the apex bank, and other top officials CBN, was leaked [...]

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    FLASHBACK: Was this the video that got Sanusi into trouble with Ganduje?

FLASHBACK: Was this the video that got Sanusi into trouble with Ganduje?

Muhammad Sanusi II, the emir of Kano and former governor of Central Bank of Nigeria (CBN), has been at the heart of a post-election controversy with Abdullahi Ganduje, governor of Kano, over his criticism of the governor's actions and inactions in the state.The former CBN governor's problem with Ganduje is usually traced to his critical comments in 2017 on the [...]

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    Cecilia Ibru: Sanusi persecuted me thinking I wanted his job at CBN

Cecilia Ibru: Sanusi persecuted me thinking I wanted his job at CBN

Cecilia Ibru, former chief executive officer of the defunct Oceanic Bank, says she was persecuted by Lamido Sanusi, former governor of the Central Bank of Nigeria (CBN), because he thought she wanted his job.In an interview with Saturday Punch, Ibru said Sanusi, the emir of Kano, also ordered for the withdrawal of her personal driver and security personnel.In 2010, a [...]

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    Senate reads Buhari’s letter seeking confirmation of Emefiele for second term

Senate reads Buhari’s letter seeking confirmation of Emefiele for second term

President Muhammadu Buhari has sought the approval of the senate in the appointment of Godwin Emefiele for a second term as governor of the Central Bank of Nigeria (CBN.Buhari's letter seeking the lawmakers' confirmation was read during plenary on Thursday.TheCable had reported that the president nominated Emefiele to remain in office for another five years.The CBN governor was first appointed [...]

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    Reps panel summons CBN, AGF over N33bn pension fund

Reps panel summons CBN, AGF over N33bn pension fund

The house of representatives ad hoc committee investigating alleged irregularities in National Pension Commission (PenCom) has summoned the Central Bank of Nigeria (CBN) and accountant general of the federation (AGF) over the whereabouts of N33 billion pension fund.The money, which was released by the CBN, is reportedly not listed in the schedule of funds due for release to the pension [...]

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    IMF supports VAT hike, asks FG to recapitalise weak banks

IMF supports VAT hike, asks FG to recapitalise weak banks

The International Monetary Fund (IMF) says the federal government should end fuel subsidies and create a credible timeline to recapitalise weak banks in the country.At the conclusion of the IMF Executive Board 19 Article IV Consultation with Nigeria, the financial institution expressed its support for the government's plans to reform and raise value-added tax (VAT).In its report seen by TheCable, [...]

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    Otunuga: Why CBN may cut key interest rates again

Otunuga: Why CBN may cut key interest rates again

Lukman Otunuga, research analyst at FXTM, says the Central Bank of Nigeria (CBN) would likely cut interest rates further if macro economic conditions in the country improve.Otunuga was reacting to an announcement by Godwin Emefiele, CBN governor, which detailed a reduction in benchmark interest rate, on Tuesday.Pegged at 14% for almost three years, the monetary policy rate (MPR), otherwise known as [...]

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    ANALYSIS: Will Buhari give Emefiele a second term as CBN governor?

ANALYSIS: Will Buhari give Emefiele a second term as CBN governor?

Joseph Sanusi. Charles Soludo. Muhammad Sanusi II. Since the return of democracy in 1999, no governor of the Central Bank of Nigeria (CBN) has served two terms. Is Godwin Emefiele about to be the breaker of the CBN tenure jinx?Appointed by former president Goodluck Jonathan on June 3, 2014, Emefiele will end his tenure as CBN governor in less than [...]

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    FAKE NEWS ALERT: Buhari has NOT sacked Emefiele as CBN governor

FAKE NEWS ALERT: Buhari has NOT sacked Emefiele as CBN governor

Godwin Emefiele remains the governor of the Central Bank of Nigeria, TheCable can report.Emefiele reportedly received a letter from the office of President Muhammadu Buhari on Monday to vacate his office.Sources within the presidency told TheCable there is no truth in the reports."The president does not have the power to sack the CBN governor without the approval of the national [...]

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    Emefiele describes Atiku’s proposed plan to float naira as ‘road to perdition’

Emefiele describes Atiku’s proposed plan to float naira as ‘road to perdition’

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), has warned that floating the naira would be disastrous to the nation’s economy.Emefiele said this during the monetary policy committee (MPC) meeting of the apex bank in Abuja.In November 2018, Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), had said it was worth the risk to float [...]

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    MTN pays $53m to settle CBN CCI dispute

MTN pays $53m to settle CBN CCI dispute

MTN Nigeria has paid the sum of $53 million (N19.2 billion) to settle a dispute with the Central Bank of Nigeria (CBN) over alleged irregularities of repatriated funds.Godwin Emefiele, CBN governor, made the disclosure during the apex bank’s monetary policy committee (MPC) meeting in Abuja on Tuesday.Emefiele said the money paid by MTN was a “notional sum” and that the [...]

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    Foreign reserve records highest new-year opening in six years

Foreign reserve records highest new-year opening in six years

The Nigerian foreign reserve, in 2019, has recorded the highest opening in six years!According to the latest figures from the Central Bank of Nigeria (CBN), as collated by TheCable, the country's reserves opened at $43,075,740,908 on Tuesday to break a six-year record.The last time Nigeria's reserves opened above $42 billion was in 2013, when it opened the new year at above [...]

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    PDP accuses Buhari of diverting public funds to campaign

PDP accuses Buhari of diverting public funds to campaign

The Peoples Democratic Party (PDP) has accused President Muhammadu Buhari of secretly diverting monies from various social intervention funds to his re-election campaign.  In a statement signed by Kola Ologbodiyan, PDP national publicity secretary, the party said the funds have been used for vote buying.The opposition party accused the All Progressives Congress (APC) of giving the impression that it has the [...]

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Exchange Rates

May 23, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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