The Monetary Policy Committee of the Central Bank of Nigeria has reduced the Monetary Policy Rate, also known as main interest rate, to 12.5 per cent from 13.5 per cent.
The CBN Governor, Mr Godwin Emefiele, disclosed this while announcing the decision of the MPC at its meeting on Thursday.
He...
The Central Bank of Nigeria (CBN) has confirmed changes in the foreign exchange market.
In a statement on Wednesday night, Angela Sere-Ejembi, Director, Financial Markets, confirmed the changes.
She said all transactions will now be done through the Investors and Exporters (I&E) window, where the exchange rate will be determined by...
The Central Bank of Nigeria has warned operators against paying recipients of diaspora remittances in local currency.
It warned that violators could lose their operational licences if they failed to comply with its guidelines on remittances.
The CBN said this in a circular to International Money Transfer Operators and Payment Service...
Zenith Bank, a leading financial institution, has announced the appointment of Adaora Umeoji as its new Group Managing Director and Chief Executive Officer (GMD/CEO). The appointment, set to take effect from June 1, 2024, was revealed in a corporate filing on the Nigerian Exchange Group (NGX) and signed by...
President Bola Ahmed Tinubu has approved the extension of the ban on the export of raw shea nuts for a further one year, from February 26, 2026, to February 25, 2027.
The decision underscores the administration’s commitment to advancing industrial development, strengthening domestic value addition, and supporting the objectives of...
The Honda Management team led by the Managing Director, Mr Takashi Nakajima, on Tuesday 30th May, 2023, presented the new Nigerian built Honda HRV to the DG NADDC, Jelani Aliyu, MFR, at the Council’s Headquarters in Abuja.
While making a demonstration of the vehicle, Mr Remi Adams, the company’s Sales...
The Chief Executive Officer of Air Peace Limited, Dr Allen Onyema, has commended Ekiti State Agro-Allied International Cargo Airport, describing it as one of the best in the world in terms of infrastructure and operational readiness.
Dr Onyema, who arrived at the airport on Saturday at about 10 am aboard...
The coronavirus epidemic could damage global economic growth this year, the IMF head said Sunday, but a sharp and rapid economic rebound could follow.
“There may be a cut that we are still hoping would be in the 0.1-0.2 percentage space,” the managing director of the International Monetary Fund, Kristalina...
The World Bank on Friday approved debt relief for the poor and vulnerable member-countries of its International Development Agency (IDA) as the coronavirus pandemic continues to take a devastating toll on the global economy.
The World Bank Group President, David Malpass, announced the debt relief during the Spring 2020 Plenary...
Leading financial services provider, First City Monument Bank (FCMB), has continued to blaze the trail with innovative and value-added offerings to boost the productivity and overall performance of businesses.
The latest is an initiative tagged, “Top-5-In-5”, a digital video knowledge sharing and capacity building series designed to give Small and...
