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Tag Archives: Central Bank of Nigeria (CBN)

Making Naira convertible international trading currency’ll lift rating, value—Mailafia

Obadiah-Mailafia, former Deputy Gov at CBN

Leading finance analyst and former Deputy Governor of Central Bank of Nigeria (CBN), Dr Obadiah Mailafia, has presented another tactical solution to the myriads of efforts to save Nigerian Naira. In an interview on Monday in Abuja, he advised the Federal Government to take measures that will make Naira convertible international trading currency. He recalled that about 40 years ago, ...

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Nigeria’ll continue to import petrol in 2019 and Kachikwu’ll not resign, says analysts

Ibe Kachikwu

Recent pronouncement by the Minister of state for Petroleum that he would resign come 2019 if Nigeria failed to stop importing refined petroleum products has raised reactions from industry experts. Whereas many of them argued that he may be swept away in the next cabinet reshuffle, other say he did not ‘watch his back’ well before the comment. According to ...

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Experts predict rates retention as CBN beings MPC meeting today in Abuja

MPC Synergy

The Central Bank of Nigeria (CBN) will this Monday morning, begin another round of Monetary Policy Committee (MPC) to review the performances of given monetary indices in the weight of recent policies and happenstances in the economy. In the last meeting held in March, MPC had relied on “data and forecasts of key economic variables as well as the newly ...

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NCC should first compel FG to ease forex for us before any new KPI for QoS—Operators

NCC Operators

Some operators in the nation’s telecoms sector have challenged the Nigerian Communications Commission (NCC) to first of all, prevail on the Federal Government to clearly remove telecoms equipment from the list of 41 restricted items before coming up with new Key Performance Indicators (KPIs). The president of Association of Telecoms Companies of Nigeria (ATCON), Engineer Olusola Teniola had during the ...

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CBN restricts alerts to customer-induced transactions only, caps fees to N4 per SMS

CBn Emefiele

As part of strategic reforms to protect the millions of consumers of banking services, the Central Bank of Nigeria (CBN) has restricted alerts to customer-induced transactions only, capping fees charged by the banks on transaction alerts to N4 per SMS. The CBN directed the banks to consolidate into one single SMS alert all associated notifications relating to a particular transaction. ...

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Banks yet to consider Etisalat’s parent group’s proposal on debt restructuring

NCC Etisalat

It is not yet uhuru for Etisalat Nigeria as the new deal proposed by its core investors, the Etisalat Abu Dhabi, is yet to be considered by13 creditor banks. Business Hilights gathered that the parent company, Etisalat Abu Dhabi, had during its courtesy visit to the Executive Vice Chairman of Nigerian Communications Commission (NCC), Prof Umar Danbatta indicated readiness to ...

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Eliminate 41 restricted items, if you hope to get unified exchange rate—Soludo warns CBN

soludo

Indication has emerged that the conjuncture and or dreams of the Central bank of Nigeria (CBN) to rely on the prevailing restriction of 41 items from forex window and momentary injection of dollars to the market will drive unified exchange rate regime, remains a farce. This was the submission of former CBN Governor and outspoken finance affairs analyst, Prof Chukwuma ...

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FCMB raises forex sales to manufacturers, SMEs, corporate bodies

FCMB Balogun

Leading money deposit bank, First City Monument Bank (FCMB) has announced increase in sale of foreign exchange to all customers and members of the public who play in the Small and Medium Scale Enterprises (SMEs) sector, manufacturing, Corporate Bodies as well as individuals, returns on utilisation of allocated FX published weekly by the lender in national newspapers show. Business Hilights ...

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CBN hikes cards maintenance fee from N100 yearly to N600 from this month

CBn Emefiele

Indications have emerged that the Central Bank of Nigeria (CBN) has finally yielded to age long pressure from commercial banks to hike fees charged on debit and credit cards maintenance. Accordingly, it has announced the hike from N100 a year to N50 per month, totaling N600 yearly. The new tariff regime takes effect from May 1, 2017, as part of ...

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Zenith Bank leads other 7 in continued SMEs forex window after sack of 16 violators

CBn Emefiele

For keeping to the laid down due process in the administration of Small and Medium Scale Enterprises (SMEs) window of the foreign exchange market access, the Central Bank of Nigeria (CBN) has named Zenith Bank and seven others as only operators henceforth. Others joining the bank include Access Bank Plc, Diamond Bank Plc, Fidelity Bank Plc, Heritage Bank, Jaiz Bank, ...

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