The Federal Government’s outstanding as of March 31 stood at the N24.52tn (excluding the states and the Federal Capital Territory Administration), the Central Bank of Nigeria (CBN) has said. The apex bank also disclosed that the Federal Government recorded a revenue deficit of N561.71bn in May. It disclosed these in its ‘Economy monthly report’ for
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Coalition Against COVID-19 (CACOVID), a private sector-led organization comprising the Central Bank of Nigeria, Guarantee Trust Bank, ACCESS bank and other commercial institutions on Thursday donated 88 lorry loads of food items to the Anambra state government to assist her in combating the Coronavirus disease in the state. The food items including bags of rice,
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The total amount of allocated credit worth disbursed to farmers between January and March this year is N539.8 million, the Central Bank of Nigeria (CBN) said during its third quarter economic report titled, Agricultural Credit Guarantee Scheme revealed on Monday. “A total of N539.8m loans were guaranteed to 3,161 farmers under the Agricultural Credit Guarantee
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The Central Bank of Nigeria (CBN) has entered a partnership with the Imo State government to boost palm oil and allied products through the state owned Adapalm Oil Company, Ohaji, as a way of enhancing Oil-palm production in the country and to ensure economic diversification from oil to non-oil sectors. This was made open to
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…As CBN devalues naira again to meet Nigeria’s multiple exchange rates By: Rachael Bassey On Tuesday, the Central Bank of Nigeria adjusted the value of the naira to exchange to the dollar rate at N381, this is a measure taken to meet the Nation’s multiple exchange rates and guarantee stability. Although the CBN has not
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Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit asking the Federal High Court, Abuja to order the Federal Government and Central Bank of Nigeria (CBN) to “publicly identify and name Nigerians who have so far benefited from any cash payments, cash transfers, food distribution and other reliefs and palliatives during the lockdown in
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The Central Bank of Nigeria (CBN) has threatened to blacklist farmers involved in diversion of farm inputs or sell their produces in Anambra state. The Head, Development Finance Office, CBN, Awka branch, Mrs Bridget Okparaeze, gave the warning on Tuesday in Onitsha at the inauguration of inputs distribution by the Central Bank of Nigeria (CBN)
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The Central Bank of Nigeria (CBN) says it is developing a framework under which grants and long term facilities will be provided to researchers, science institutions and biotechnology firms to develop COVID-19 Vaccine. The Governor of CBN, Mr Godwin Emefiele disclosed this at the unveiling of the THISDAY Dome Testing, Tracing and Treatment Centre, Abuja
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The Central Bank of Nigeria (CBN) and other banks in the country have agreed to suspend the planned sacking of workers in the banking sector following the economic impact of Coronavirus pandemic. This information was contained in a statement on Sunday by the CBN Director, Corporate Communications, Mr Isaac Okorafor, THE DAILY VENDOR reports. Some
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A former Minister of Aviation, Chief Osita Chidoka has called on the Central Bank of Nigeria (CBN) to work with banks to urgently remove charges on transfers below N5000 to deepen the cashless policy. Chidoka made the call on his Twitter handle on Tuesday. He said that removing the bank charges will further encourage those
Read moreThe Central Bank of Nigeria (CBN) has technically devalued the naira to exchange to the dollar at N380. The apex bank took this decision after all interventions in the market, such as imposing sanctions on errant operators and use of moral suasion to curb illegal forex operations did not sustain the exchange rate of N360.
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Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has said the private jets belonging to loan defaulters would be seized. Emefiele, who spoke on Saturday during a visit to the Dangote refinery and fertiliser project site in Lagos, said the chunk of the loans in the Asset Management Corporation of Nigeria was being owed by
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Federal High Court in Lagos State has summoned the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, over a judgment of N200m against the Nigeria Police Force. The court, in a February 13, 2020 order by Justice C.J. Aneke, said Emefiele and four others must appear in court on February 20 to explain
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The Senate on Thursday, January 30, 2020, confirmed the appointment of Dr Kingsley Obiora as a Deputy Governor of the Central Bank of Nigeria. President Muhammadu Buhari had asked the Senate to confirm the appointment of Dr Obiora as the Deputy Governor of the Central Bank of Nigeria. The request was contained in a letter
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The Central Bank of Nigeria’s Monetary Policy Committee on Friday cautioned the Federal Government against the rising debt level in the country. The committee urged the Federal Government to build fiscal buffers to cushion the impact of oil price decline on the economy. In October 2005, Nigeria and the Paris Club announced a final agreement
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