CBN forex policy on 41 items in Nigeria’s economic interest – Emefiele

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says the bank’s decision to restrict access to the foreign exchange official window for the importation of 41 items is in the best interest of the nation’s economy. Emefiele, who made the remarks in his keynote address while declaring open the 26th Seminar of Financial […]

Why we opted for stable exchange rate – CBN Governor

The Governor, Central Bank of Nigeria (CBN), Mr.Godwin Emefiele, has disclosed that the monetary authorities opted for maintaining stable exchange rate for the nation’s currency rather than building the foreign reserves in view of the far-reaching benefits of the adopted option for the economy. Emefiele gave this hint on Sunday while briefing journalists on the […]

CBN lists criteria for achieving banking system stability

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday hinged the achievement of stability in the nation’s banking system on some critical factors, including the adoption of risk-focused and rule-based regulatory framework, zero tolerance in regulatory framework for data/information rendition/reporting and infractions, and strict enforcement of corporate governance principles. Emefiele was […]

Nigeria at risk of another recession – CBN

The Central Bank of Nigeria (CBN) has raised the alarm that Nigeria risks sliding back into another recession. Addressing journalists at the end of the September, 2018 Monetary Policy Meeting in Abuja on Tuesday Governor of the CBN, Mr. Godwin Emefiele, said members were worried “that the exit from the recession may be under threat […]

Why we revoked Skye Bank licence, renamed it – CBN

The Central Bank of Nigeria (CBN) on Friday gave insights into why it revoked the operations licence of Skye Bank Plc and renamed it Polaris Bank. In a statement signed by the apex bank’s Governor, Godwin Emefiele, indicated that the action was taken to save the bank from going under. He stated: “As a result […]

CBN revokes Skye Bank’s licence, assures depositors

The Central Bank of Nigeria (CBN) on Friday revoked the operating licence of Skye Bank Plc with immediate effect but assured depositors of the safety of their money. The Governor of Central Bank, Godwin Emefiele, who announced the revocation of the lender’s operations licence at a press briefing in Lagos, explained that following the regulatory […]

Emefiele emerges WAMZ chairman, re-assures on sub-regional currency

The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has been elected as chairman of the West Africa Monetary Zone (WAMZ) at the ongoing sub-regional meeting being hosted in Abuja. Shortly after the unanimous election, Emefiele, in his acceptance speech, averred that “a lot of work needs to be done, especially in respect of […]

FG to plug leakages, instill fiscal discipline in NNPC, others – Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, today said that government was committed to blocking leakages in key parastatals, including the Nigeria National Petroleum Corporation (NNPC) as a strategic step towards promoting fiscal discipline and good governance in the public sector. This is even as she restated optimism on the nation’s growth outlook and the […]