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Tag Archives: Central Bank of Nigeria (CBN)

Nigeria’s bank-led mobile money scheme can’t grow beyond single digit—BHIU

Mobile Money Nigeria

Fresh revelations have opened up on why after about five years of operation in Nigeria; mobile money has only been able to attract just one per cent penetration as against the targeted 20 per cent growth on a yearly basis. A report revealed by Business Hilights Intelligence Unit (BHIU) weekend listed seven key factors that weakened the effective and uptake ...

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Sights and sounds of Nigeria economy last week ending April 21

CBN and banks

The week started last week with the Central Bank of Nigeria (CBN) releasing its Consumer Expectations Survey Report for Q1-2018 which indicated that consumers’ overall outlook worsened in Q1-2018 with the index decreasing to -6.4 points (vs. 1.0 points in Q4-2017 and -29.4 points in Q1-2017). Respondents attributed the moderation in outlook to worsening economic conditions and family financial situation. ...

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CBN, Adeosun in NASS net for buying $462m helicopters without approval in March

Kemi Adeosun

The Nigerian upper legislative chambers on Tuesday summoned the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, Minister of Finance, Mrs Kemi Adeosun and her Defence counterpart, Mansur Dan-Ali to appear before it. The trio are to appear and explain why they should not be sanctioned for contravening procurement process in the withdrawal and subsequent purchase of $462m ...

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9mobile: Teleology may head to court over Reps order disrupting concluded sale process

9mobile 88

Business Hilights Intelligence Unit (BHIU) weekend gathered that the preferred bidder of 9mobile, Teleology Holdings Limited is currently considering legal option on the latest twist in their ownership of the troubled fourth largest telecommunications company. A usually reliable source confided in Business Hilights that the observed hot chase on Teleology since it won the bid has gotten to a level ...

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Sights and sounds of Nigerian economy last week ending April 14, 2018

Fcmb NSE

One of the major developments that trended last week was the declaration by President Muhammadu Buhari to run for re-election in the upcoming 2019 general election. However, the declaration failed to elicit any meaningful reaction on the movement of stocks and equities at the Nigerian Stock Exchange (NSE). Besides, the week started with what can be seen as a cheerful ...

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Another recession imminent if economy is not run on strong policy synergy—CBN

CBN Godwin-Emefiele

Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has raised fresh fears of another self inflicted recession if officials involved in running both the fiscal and monetary policies of the economy fail to ride on a strong synergy in decision making. While stressing that it is only policy coordination that situate economies for growth and development all ...

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N2.7tn owed contractors hobbling every sector as CBN, banks mull N60b release

CBN and banks

The reason why upon the rising oil price and associated foreign reserves jump which now stands at N47bn are not felt by the economy cannot be unconnected with the federal government’s unexplainable stance to hold on to about N2.7tn owed contractors since the beginning of this administration. This is as the Central Bank of Nigeria (CBN) and the Deposit Money ...

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No doubt, some interests working to do away with Teleology in sale of 9mobile—Pundits

9mobile 88

Looking for the murkiest sale of an enterprise in current Nigeria, it is 9mobile. Murky in the sense that the targeted buyer or bid winner by some unseen but powerful interests, may not have emerged according to their plots and permutations. A telecoms expert who pleaded anonymity told our correspondent that “Am disturbed on the level of embarrassment so far ...

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Cut MPR, end multiple exchange rates to exit industries from recession, says ABCON

CBN new MPC members

Though the Nigerian economy is out of recession, there are strong indications that the productive sector or manufacturing segment of the economy is still under the chains of recession. However, to drive their exit process as soon as possible, the President of Association of Bureau d’Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, has advised the Central Bank of Nigeria ...

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CBN, banks’, in aggressive financial inclusion drive with 500,000 agent networks

CBN Godwin-Emefiele

The Central Bank of Nigeria (CBN) has sealed a partnership understanding to collaborate with banks and Mobile Money Operators (MMOs) to deepen Financial Inclusion in Nigeria. Business Hilights gathered Wednesday that already, about 10 MNOs and super agents will, any moment from now, start deploying financial services agents’ outlets across the country. Among the ten pre-qualified CBN-licensed operators include Capricorn ...

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