Central Bank of Nigeria

Business

CBN Issues Circular To Curb Banks’ Excesses In Forex Management

Sam Diala, THEWILL -
January 31, (THEWILL) - The Central Bank of Nigeria (CBN) has issued a new directive to banks in the management of their foreign currency exposures which the apex bank said had created operational challenges in the system. In a letter...
News

VP Shettima Commissions Multi-Billion Naira BUK Centre Of Excellence

Abdullahi Yusuf, THEWILL -
January 29, (THEWILL) - Vice President Kashim Shettima, on Monday, commissioned the multi-billion Naira Centre of Excellence Building Complex at the Bayero University Kano (BUK), which houses a world-standard postgraduate school built by the Central Bank of Nigeria (CBN). There...
Business

CBN Injects $500m Into Forex Market, – To Clear Backlog Soon

Sam Diala, THEWILL -
January 29, (THEWILL) -The Central Bank of Nigeria (CBN) has injected another $500 million into the market.in a move aimed at addressing the persistent backlog of verified foreign exchange transactions, THEWILL recalls that the apex bank had injected approximately $2...
Headline

FAAN, CBN Relocation Unsettles Northern Leaders

Amos Esele, THEWILL -
January 28, (THEWILL) - Just when the presidency took the wind out of the sails of the opposition from the North to the relocation of the Federal Airports Authority of Nigeria, FAAN and some departments of the Central Bank...
Business

Fitch Ratings Laments CBN’s Forex Backlog

THEWILL. -
January 21, (THEWILL) - Credit ratings agency, Fitch, has said that the Central Bank of Nigeria (CBN) continues to face a shortage of foreign exchange to clear the forex backlog. The country’s high debt-service-to-revenue ratio is also contributing to a...
Business

FX Backlog: CBN Threatens Sanctions Against Non-compliant Transactions

Sam Diala, THEWILL -
January 17, (THEWILL) - The Central Bank of Nigeria (CBN) has said that it will collaborate with relevant agencies to impose appropriate sanctions against foreign exchange violations. This follows a forensic review which uncovered severe infractions, widespread abuse,...
Business

Access Holdings Gets CBN Approval-in-Principle for Own Consumer Lending Subsidiary

Sam Diala, THEWILL -
January 17, (THEWILL) - Access Holdings Plc, the parent group of Access Bank has received the Central Bank of Nigeria (CBN) approval-in-principle to establish its own consumer lending subsidiary. The new entity will be known as Oxygen X Finance Company...
Business

Diaspora Remittances: Nigeria’s Economic Lifeblood From Abroad?

Marcel Okeke, THEWILL -
January 14, (THEWILL) - Unarguably, the greatest challenge facing Nigeria today is economic in nature, marked by acute shortage of foreign exchange (forex, FX), especially the dollar. This is particularly evident in the ranking of its currency—the Naira—as the...
Headline

CBN Dissolves Boards, Management Of Union, Keystone, Polaris Banks, Confirms THEWILL’s Exclusive Report

Aina Ojonugwa, THEWILL -
January 10, (THEWILL) - The Central Bank of Nigeria (CBN), has dissolved the Board and Management of Union, Keystone and Polaris Banks, confirming THEWILL’s Weekend Exclusive reporting on the sack. The apex bank confirmed the development in a statement signed...
Business

CBN Settles Additional FX Forwards With Banks

Sam Diala, THEWILL -
January 07, (THEWILL) - In fulfilment of its commitment to eliminate the backlog of pending matured foreign exchange in Deposit Money Banks (DMBs), the Central Bank of Nigeria (CBN) has recently disbursed approximately $61.64 million to foreign airlines through...
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Latest News

NewsFelix Ifijeh, THEWILL -

Ikire Killings: Police, Residents Trade Blame As Two Die, Officers Injured In Osun

The violence erupted on Monday at the Naira and Kobo area of Ikire, Irewole Local Government Area, along the Ibadan-Ife Expressway, amid an alleged struggle for control of the motor park. While the Osun State Police Command described the incident as an armed attack on its patrol team by suspected political thugs, residents and political actors in the community have accused the police, particularly the Divisional Police Officer (DPO), of involvement in the shooting.
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