Thursday, September 20, 2018

Tag "Isaac Okorafor"

    CBN ‘reviewing’ sanctions placed on MTN, four banks

CBN ‘reviewing’ sanctions placed on MTN, four banks

The Central Bank of Nigeria (CBN) says it is reviewing the recent sanctions placed on MTN and four commercial banks.In a statement released on Wednesday, the apex bank said the parties involved have submitted fresh documents in response to the sanctions.CBN had ordered MTN to refund $8.1 billion which it claimed the company repatriated using irregular certificates of capital importation.It [...]

0 comment Read Full Article
    CBN fines four banks N5.8bn, asks MTN to refund $8bn

CBN fines four banks N5.8bn, asks MTN to refund $8bn

The Central Bank of Nigeria (CBN) has ordered four banks to pay a total sum of N5.87 billion for allegedly issuing irregular certificates of capital importation (CCIs) on behalf of some offshore investors of MTN Nigeria Communications Limited.The apex bank has also written to MTN, asking it to refund $8 billion to the coffers of the central bank.The affected banks [...]

0 comment Read Full Article
    You can now bid for Yuan, says CBN

You can now bid for Yuan, says CBN

The Central Bank of Nigeria has begun auctioning the Chinese Yuan for the first time since the naira-yuan swap deal was signed in May.According to a statement by Isaac Okorafor, acting director, communications department, the apex bank received bids on Friday between 9am and 12 noon.Results from the bids will be announced on Monday, July 24.The Yuan sales will be [...]

0 comment Read Full Article
    HURRAY! CBN close to single rate as BDCs, banks get dollar at same price

HURRAY! CBN close to single rate as BDCs, banks get dollar at same price

The Central Bank of Nigeria (CBN) has approved that Bureaux de Change operators and commercial banks should get foreign exchange at the same rate.Isaac Okorafor, CBN acting director, corporate communications, made this known in a statement released on Monday.This means that banks and BDCs alike will buy the United States dollar at N357 per dollar to sell N360. He said [...]

0 comment Read Full Article
    Adelabu resigns as CBN deputy gov to pursue guber ambition

Adelabu resigns as CBN deputy gov to pursue guber ambition

Adebayo Adelabu, deputy governor in charge of operations at the Central Bank of Nigeria (CBN), will be addressed as former deputy governor from July 15.According to a statement released by Isaac Okorafor, CBN spokesman, on Thursday, President Muhammadu Buhari has accepted his resignation."While appreciating your services in the Central Bank of Nigeria since 9th April 2014, I wish you the [...]

1 comment Read Full Article
    BDCs reject CBN’s new dollar purchase order

BDCs reject CBN’s new dollar purchase order

Bureaux de Change Operators say they are not comfortable with the new forex purchase directive issued by the Central Bank of Nigeria.In a statement on Sunday, the CBN had said banks must now attend to customers' forex needs over the counter and BDCs must purchase forex three times a week.“All BDCs shall henceforth access dollars from the CBN on Mondays, [...]

0 comment Read Full Article
    CBN: 41 items still banned under Nigeria-China currency swap deal

CBN: 41 items still banned under Nigeria-China currency swap deal

The Central Bank of Nigeria (CBN) says the Nigeria-China currency swap deal will not cover the importation of the 41 items already blacklisted from the official foreign exchange.Isaac Okorafor, acting director, corporate communications, at the bank, made this known in an interview with NAN on Sunday.He said this will ensure the currency deal does not stifle local companies and make [...]

0 comment Read Full Article
    Foreign reserves decline for the first time in eight months

Foreign reserves decline for the first time in eight months

Data made available by the Central Bank of Nigeria show that the nation's foreign reserves dropped by $72 million between Thursday, May 10 and Monday, May 14.The reserves, which stood at $39.3 billion at the beginning of the year, has risen by $8.5 billion.In March, Isaac Okorafor, CBN spokesman, had attributed the continued growth to the bank’s effort to discourage unnecessary importation; inflow from oil [...]

0 comment Read Full Article
    CBN to bank customers: Reject dirty naira notes

CBN to bank customers: Reject dirty naira notes

The Central Bank of Nigeria (CBN) says customers should demand new naira notes from their respective banks and reject dirty ones.Speaking in an interview with NAN in Lagos on Thursday, Isaac Okorafor, CBN spokesman, said commercial banks are sabotaging its effort in replacing mutilated notes with new ones.The bank made similar claims in February.Okorafor said the apex bank is aware [...]

0 comment Read Full Article
    Foreign reserves hit ‘new high’ of $46bn

Foreign reserves hit ‘new high’ of $46bn

Data from the Central Bank of Nigeria (CBN) show that the foreign reserves grew by $6.7 billion between January and the beginning of March.Confirming the data on Sunday, Isaac Okorafor, acting director, corporate communications department, said the foreign reserves stood at $39.3 billion at the beginning of the year."The reserves at the beginning of 2018 stood at $39.3 billion, then rose [...]

0 comment Read Full Article
    Invest in Bitcoin at your risk, CBN warns

Invest in Bitcoin at your risk, CBN warns

The Central Bank of Nigeria (CBN) says people who invest in cryptocurrencies do so at their own risk because they are not protected by the law.The apex bank sounded the warning in a statement released on Wednesday by Isaac Okorafor, acting director in charge of corporate communications.The bank said virtual currencies like Bitcoin, Ripples, Monero, Litecoin, Dogecoin and Onecoin are [...]

0 comment Read Full Article
    CBN: Blame banks for bad naira notes in circulation

CBN: Blame banks for bad naira notes in circulation

The Central Bank of Nigeria (CBN) says commercial banks are to be blame for the bad naira notes in circulation.While answering questions on Twitter about the activities of the bank on Monday, Isaac Okorafor, CBN's spokesman, said the apex bank will announce a more permanent solution soon.CBN had earlier reduced the cost of replacing mutilated notes for lower denominations to [...]

0 comment Read Full Article
    Naira hits year-high amid CBN’s $210m intervention

Naira hits year-high amid CBN’s $210m intervention

The naira on Monday depreciated to N360 against the dollar at the interbank window, the highest level recorded in 2018.This is despite the $210 million provided by the Central Bank of Nigeria for various segments of the market.The naira had previously exchanged for N359.95 at the interbank window.According to figures made available by the CBN, the apex bank offered $100million [...]

0 comment Read Full Article
    Beware! Emefiele is NOT on Twitter

Beware! Emefiele is NOT on Twitter

The Central Bank of Nigeria (CBN) says Godwin Emefiele, governor of the apex bank, does not have a Twitter account.In a statement signed by Isaac Okorafor, acting director, corporate communications of the bank, CBN said that the existing Twitter handles in the governor's name are fake."The attention of the Central Bank of Nigeria (CBN) has been drawn to the existence [...]

0 comment Read Full Article
    Foreign reserves peak at $40bn — highest since October 2014

Foreign reserves peak at $40bn — highest since October 2014

The nation's external reserves currently stand at $40.4 billion - its highest level since October 2014.This represents an increase of about $1 billion between December 2017 and January 2018.Isaac Okorafor, spokesman of the Central Bank of Nigeria (CBN), disclosed this in a statement sent to TheCable on Monday.He said the new figure makes true, the projection which Godwin Emefiele, CBN [...]

0 comment Read Full Article
    CBN: Our programmes have created 7 million jobs

CBN: Our programmes have created 7 million jobs

Isaac Okorafor, acting director, communications at the Central Bank of Nigeria, says the bank's development finance interventions has created seven million jobs.Okorafor, who made this statement on Thursday at the Lagos International Trade Fair, said the bank had created five million jobs through its Agriculture Guarantee Credit Scheme and over one million through its Commercial Agriculture Credit Scheme.Other programmes which [...]

0 comment Read Full Article
Advertisement

 

Advertisement

Advertisement

Exchange Rates

September 20, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement