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Why Nigerian Government Dependent On Expensive Borrowing –IMF

Why Nigerian Government Dependent On Expensive Borrowing –IMF

The International Monetary Fund has said that Nigeria’s “over-Optimistic” revenue assumptions has made the government dependent on expensive borrowing from the Central Bank of Nigeria. The IMF stated that plans to increase Value Added Tax…

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CBN Injects $8.287bn In Forex Market In Six Months

CBN Injects $8.287bn In Forex Market In Six Months

The Central Bank of Nigeria (CBN) injected a total of $8.287 billion in the interbank foreign exchange (forex) market in the first six months of 2019. The central bank, which disclosed this in its ‘Half…

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CBN’s Aggressive Loan Policy Could Worsen State of Banks –Expert

CBN’s Aggressive Loan Policy Could Worsen State of Banks –Expert

The determined drive by the Central Bank of Nigeria to mandate commercial banks to increase lending to the agriculture, manufacturing, SME sectors of the economy could worsen the quality of assets in the Nigerian banking…

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CBN To Charge Banks $1.3 bln For Failing To Meet Loan Deadline

CBN To Charge Banks $1.3 bln For Failing To Meet Loan Deadline

Central Bank of Nigeria (CBN) plans to charge 12 banks a total of more than 400 billion naira ($1.3 billion) for failing to meet its minimum loan-to-deposit ratio requirement by a September deadline, three banking…

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Now That Osinbajo Survived His Obituarists

Now That Osinbajo Survived His Obituarists

The past two weeks were most humiliating for Vice President Yemi Osinbajo. He was systematically denuded of the power due to his office, and reduced to “VP Academics” in the eyes of the public. He…

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Banks Fail To Account For Nigeria’s $7bn Reserves

Banks Fail To Account For Nigeria’s $7bn Reserves

There are strong indications that a huge chunk of the $7bn reserves which the Central Bank of Nigeria under a former Governor Charles Soludo gave to 14 banks had yet to be repaid 13 years…

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CBN Sanctions Four Banks Over Delay In Customers’ Enquiries

CBN Sanctions Four Banks Over Delay In Customers’ Enquiries

The Central Bank of Nigeria and Financial Reporting Council of Nigeria sanctioned four commercial banks between January and June for various infractions, our correspondent has learnt. It was learnt that the apex bank imposed a…

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CBN To Reps: It’s Cashless Policy Or Nothing

CBN To Reps: It’s Cashless Policy Or Nothing

The Central Bank of Nigeria on Friday said it would continue to implement the cashless policy in line with its mandate to ensure an efficient payment system. The CBN Governor, Mr Godwin Emefiele, said this…

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Just In: Reps To CBN: Put Cashless Policy On Hold

Just In: Reps To CBN: Put Cashless Policy On Hold

By Augustine Akhilomen The House of Representatives has ordered the Central Bank of Nigeria (CBN) to halt the planned cashless policy. The motion which was moved by the Spokesman of Nigeria Federal House of Representatives,…

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CBN To Increase Charges On PoS Transaction

CBN To Increase Charges On PoS Transaction

The Central Bank of Nigeria has directed the strict implementation of Merchant Service Charge, which would impose more charges on all point of sale (PoS) transactions. This is coming few days after the apex bank…

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