CBN, MOF sign pact to harmonise monetary and fiscal policies
Fiscal and monetary policies remain two important and complementary instruments for the management of a modern economy.
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CBN allows Opay, Moniepoint other digital banks to open branches nationwide
Licensed institutions are required to establish physical branches or service centres in key locations, improving access for customers who need in-person support.
CBN To Launch New Website Monday, December 2
The Central Bank of Nigeria says that its newly redesigned website (www.cbn.gov.ng) will become operational on Monday, December 2, 2024. Hakama Sidi Ali (Mrs), Acting Director of Corporate Communications, said: “The Bank has developed a contemporary Web API that operates on Microsoft .NET Core 8 (the most recent and stable release) to enhance user experience…
Manufacturing sector worst hit in unpaid $2.4bn FX backlogs by CBN -MAN
Worse still, the commercial banks have continued to charge dollar account along with other Naira bank charges such as 35% interest rate on the facilities that these companies have with their banks.
NACCIMA, CBN differ on payment of outstanding FX to Companies
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), is calling on the Central Bank of Nigeria (CBN) to act quickly to pay the outstanding balance of the 2022 to 2023 foreign exchange forwards to the affected companies. Conversely, CBN Governor, Olayemi Cardoso, maintained that the bank would not pay for FX…
OPSN Jaw-Jaw With CBN Governor Olayemi
The meeting concluded on a positive note, with parties agreeing to continue engaging and working together to find solutions to the challenges facing Nigeria’s private sector.
World Bank Confirms MAN’s Position on Failures of CBN’s Rate Hikes to Tame Inflation
MAN, in its advocacy, observed that the sustained monetary policy tightening by the CBN for more than two years has not brought down inflation.
Outcome of CBN Meeting with IFC
Both the CBN and IFC aim to invigorate Nigeria’s banking industry by fostering the development of financial products that meet the country’s needs and catalyze the financial ecosystem.
Minister To Engage CBN on Manufacturers $2.4bn Forex
The Manufacturers Association of Nigeria(MAN) requested the Honourable Minister of Industry, Trade, and Investment, Mrs Doris Uzoka-Anite to intervene in the $2.4 billion forex forward contracts of manufacturing concerns allegedly declared invalid by the Central Bank of Nigeria (CBN). The request was made during a crucial meeting with the Minister on the unpaid $2.4 billion…