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Tag Archives: Central Bank of Nigeria (CBN)

9Mobile loses ‘Orange’ opportunity to Airtel Sierra Leone

9Mobile

Orange, one of the world’s leading telecommunications operators, announced on Wednesday, the official launch of its brand in Sierra Leone after it successfully completed the acquisition of Airtel Sierra Leone to become Orange Sierra Leone. Many Nigerian industry analysts said if marketers of troubled Etisalat, now 9Mobile had done a good packaging ahead of time, the deal would have been ...

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CBN soaks N50bn excess charges from banks’, pays back customers

CBn Emefiele

Bank account holders who are victims of excess charges by commercial banks in the last three years have started getting back what was robbed from them. Central Bank of Nigeria (CBN) had earlier this week said it has recovered over N50 billion from banks in excess charges imposed on customers in the last three years, as part of its efforts ...

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ABP: Kebbi youth farmers protest high interests on agric loans

CBN Godwin-Emefiele

Contrary to federal government’s claims through the Central bank of Nigeria (CBN), that the terms and conditions attached to the Anchor Borrowers Programme (ABP) loan scheme are flexible and seamless, aggrieved youth farmers in Kebbi State, on Thursday, staged a peaceful protest across major streets in the state capital, to express their dismay over alleged irregularities and high rate of ...

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Multistakeholdership key to national cybersecurity strategies—Shola Taylor

CTO taylor

Just as the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) are about to forge a common front to fight electronic fraud driven by SIM swaps, the Secretary General of the Commonwealth Telecommunications Organisation (CTO), Shola Taylor, has called on member nations to address cybercrime and cyber threats through effective and harmonised national cybersecurity strategies with strong ...

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6 against 1 vote at MPC meeting leaves all rates unchanged

CBn Emefiele

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) ended its two-day meeting in Abuja on Tuesday, retaining all exiting rates in line with several analysts’ predictions. In his remarks at the end of the meeting, the chairman of the MPC and Governor of the CBN, Mr. Godwin Emefiele, made it clear that after understudying happenstances in ...

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CBN changes narrative on cause of poor W’Bank ranking

CBN Godwin-Emefiele

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has unveiled a key factor that is rarely mentioned when factors frustrating ease of doing business in Nigeria are discussed. The World Bank had some months ago labeled Nigeria as an economy where ease of doing business is worst and discouraging. Speaking at a workshop for Judicial Officers organized ...

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CBN in Awka, lists 3 policy actions to sustain economy’s exit from recession

CBN Godwin-Emefiele

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has given three way action plans to be pursued by the agency to deepen growth and further suppress the chances of recession come back including taming inflation, momentary injection of dollars and routine monetary policy regime. Besides, the CBN hinted that measures adopted in the past to drive the ...

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Recession exit squeezes currency in circulation to N1.77tn as against N22.54tn YOY

CBN Godwin-Emefiele

Monetary statistics accessed from the Central Bank of Nigeria (CBN) has shown within the period of the nation’s exit from recession, currency in circulation dropped to an all time low of N1.77 trillion from N22.54 trillion year-on-year (YOY) when compared to last year. Currency in circulation in public finance and development economics means the total value of currency that has ...

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Card payment fastest growing transaction system since 2010—CBN

CBN Godwin-Emefiele

The Director, Banking and Payments System Department of the Central Bank of Nigeria (CBN), Mr. Dipo Fatokun has opened up, revealing that transactions and payments conducted on cards have become the fastest growing payments instrument since 2010. Speaking at forum recently on the scorecard of e-payment system in the country and efforts of his department to deepen e-payment culture, he ...

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More excitements as Nigeria narrowly gets off the hook of recession, but…

NBS kale

It was joyous moment amongst federal lawmakers and other financial experts as the nation’s economy was declared out of recession on Tuesday by the data rolled out by the National Bureau of Statistics (NBS). With the report, Gross Domestic Product has returned to positive growth. According to the NBS report, the GDP grew by 0.55 per cent (year-on-year) in real ...

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