Saturday, June 15, 2019

Tag "godwin emefiele"

    Buhari asks CBN to blacklist firms smuggling 43 restricted items  

Buhari asks CBN to blacklist firms smuggling 43 restricted items  

President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to blacklist any firm, its owner and top executives caught smuggling any of the 43 items ineligible for foreign exchange (forex).Godwin Emefiele, CBN governor, disclosed this during a meeting with oil palm producers in Abuja on Friday.In June 2015, the apex bank had excluded importers of 41 items [...]

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    Dangote: Power sector hindering Nigeria’s economic growth

Dangote: Power sector hindering Nigeria’s economic growth

Aliko Dangote, president of Dangote group, says the poor performance of the country’s power sector is hindering growth of the economy.Dangote spoke at a consultative roundtable session for public and private sector stakeholders in Lagos on Saturday.The programme was organised by the Central Bank of Nigeria (CBN).According to Dangote, Nigeria had been struggling to increase its electricity output for the [...]

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    CBN to limit banks’ access to bonds, treasury bills

CBN to limit banks’ access to bonds, treasury bills

The monetary policy committee of the Central Bank of Nigeria (CBN) has directed that a regulatory framework that will limit the access of banks to bonds and treasury bills be put in place.Godwin Emefiele, CBN governor, made this known in Abuja on Tuesday while addressing the press at the end of the committee's meeting."Unfortunately, we have observed that rather than [...]

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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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    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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    Dirty naira notes: CBN to unveil currency fitness policy

Dirty naira notes: CBN to unveil currency fitness policy

The Central Bank of Nigeria (CBN) says it has put together a Clean Note Policy and Banknote Fitness Guideline to ensure the recirculation of clean, fit and high-quality naira notes.According to a statement by the bank, the guideline document will be unveiled on Tuesday, April 30, at the Eko Hotel and Suites in Lagos."These documents were developed after extensive collaboration [...]

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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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    FG to ban tomato paste importation before end of 2019, says Audu Ogbeh

FG to ban tomato paste importation before end of 2019, says Audu Ogbeh

Audu Ogbeh, minister of agriculture and natural resources, says the federal government will place a final ban on the importation of tomato paste before the end of 2019.Speaking in Kano during a tour of the Dangote Tomato Processing Plant in Kadawa, Kano state, Ogbeh said the ban will encourage massive tomato production.According to Ogbeh, the federal government has set aside [...]

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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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    Emefiele: CBN will soon start sourcing forex from Dangote Group

Emefiele: CBN will soon start sourcing forex from Dangote Group

The Central Bank of Nigeria (CBN) says it will start sourcing foreign exchange from Dangote Group as soon as the latter's refinery and fertilizer projects begin operations.Speaking during the weekend during a tour of the construction site, Godwin Emefiele, the CBN governor, said the operations from both plants will result in huge forex earnings for the country.The fertilizer refinery is [...]

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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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    CBN adds fertiliser to initial 41 items not eligible for forex

CBN adds fertiliser to initial 41 items not eligible for forex

The Central Bank of Nigeria (CBN) has added one more item to the 41 items not eligible for foreign exchange (forex).On Monday, the apex bank added fertiliser to the list of items it can no longer allocate forex for its importation into Nigeria.In a statement signed by Ahmed Umar, director, trade and exchange department of the CBN, the bank said [...]

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    After shedding $2.1bn, Nigeria’s foreign reserve on the rise again

After shedding $2.1bn, Nigeria’s foreign reserve on the rise again

After losing a record $2.1 billion in 30 days, Nigeria's foreign reserve is on the rise again.Data from the Central Bank of Nigeria, seen by TheCable, showed that the nation's reserve surged by over $230 million between November 23 and 26, 2018.As at Monday, November 26, the reserves stood at $41,829,552,421 -- its highest level since November 2, 2018.After the [...]

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    Otunuga: Defending the naira may become a headache for CBN

Otunuga: Defending the naira may become a headache for CBN

Lukman Otunuga, FXTM research analyst, says the Central Bank of Nigeria (CBN) may find it hard to defend the naira against an appreciating dollar, regardless of its resilience.The naira has maintained stability in the foreign exchange (forex) market owing to a series of interventions by the apex bank.In October, Godwin Emefiele, CBN governor had said the central bank prefers to save [...]

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    Emefiele: CBN working on non-interest development finance

Emefiele: CBN working on non-interest development finance

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the bank is working on a non-interest development finance to increase financial inclusion in the country. The governor said this while delivering the keynote address at the 10th-anniversary conference of Enhancing Financial Innovation and Access (EFInA) in Lagos on Tuesday.Emefiele, who spoke to the conference theme, “the Business Case for Financial Inclusion”, [...]

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    Emefiele: Forex ban on 41 items lifted Nigeria out of recession

Emefiele: Forex ban on 41 items lifted Nigeria out of recession

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the restriction of forex supply on 41 items including rice and toothpicks helped in lifting the economy out of recession.Addressing journalists on Wednesday at the opening ceremony of a seminar for finance correspondents and business editors in Lokoja, he said the policy helped in reversing the multiple challenges of [...]

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Exchange Rates

June 14, 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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