Tags CBN

Tag: CBN

CBN to sell N722bn treasury bills in Q3’21

TBs are short term debt instruments used by CBN to borrow money from the public on behalf of the federal government. The apex bank also uses TBs to control money supply in the economy.

Oil imports gulped $1.32bn in 2020, says CBN

Nigeria, Africa’s largest oil producer, relies largely on importation for petrol and other refined products as its refineries have remained in a state of disrepair for many years.

CBN plans to strengthen Naira, economy through $15bn Dangote refinery

“I am saying that by this time next year, our cost of import of petroleum products for petrochemicals or fertilizer will be able to save that which will save Nigeria’s reserve. It will help us so that we can begin to focus on more important items that we cannot produce in Nigeria today.”

CBN’s request to renovate National Theatre with N21b approved by FEC

“The CBN and banker’s committee are willing to invest N21.894 billion to renovate, refurbish and commercialization (run it profitably) of the national theatre complex. The MoU has a life span of 21 years after which it will revert back to government.”

#EndSARS: Activists accounts were never frozen during military rule – Falana

“Our passports were impounded at the airports and confiscated by the National Security Organisation (now State Security Service) to prevent us from travelling abroad to expose the atrocities of the dictators. But the passports were released to us on the orders of our courts.

Court orders CBN to unfreeze 20 #EndSARS protesters bank accounts

The judge, Ahmed Mohammed issued the order unfreezing the accounts after the legal teams of both the CBN and the 20 defendants decided to end the case.

Court dismisses case against CBN’s directives on bank charges

The CBN, through its counsel, Adeleke Agbola, of Cheakley Chambers, however challenged the suit on the ground that the plaintiff lacked the legal capacity to institute the suit on a policy that affects the public.

Cryptocurrency: CBN ban makes Nigeria unprepared for future, says Ezekwesili

“Our country’s DNA for irony is uncanny. At the same moment, as we celebrate one of our own leading a global trade institution, we have a memo from our Central Bank making country appear unprepared to embrace the future.”

CBN revokes licence of 42 microfinance banks

“We therefore request that all depositors of these banks should visit the closed banks’ addresses and meet NDIC officials for the verification of their claims, commencing from Monday, 21st December, 2020 till Thursday, 24th December, 2020.”

Emefiele charges on the need for Nigeria to end crude oil dependency

He noted that the ABP had significantly contributed in cutting down rice importation in the country, while the Commercial Agriculture Credit Scheme recorded considerable beneficiaries who have greatly contributed to the nation’s drive for sustained food security.

CBN, in it’s bid to diversify Nigeria economy partners with Prime Global Agency, empowers 2,074 farmers in Nasarawa

“We want them to farm all season. We are giving them water pumps so that when the rain stops they can use the water pumps to water their crops.We want to teach them how to grow on good agricultural practice so that they can feel the benefit of what they are doing.”

Group demands CBN’s compensation for private businesses destroyed during unrest

“For us, this particular set of governors, barring just a few, will have a special place in our national hall of shame for being so uncaring, callous and wicked to the extreme at a time the long-suffering people of this country needed kindness and empathy.

Alleged cyber attack on CBN causes stir in banks, others

Anonymous boasts of the capacity to infiltrate any website no matter how protected with some of their members claiming to be doing it “for fun”.

CBN projects huge fall in foreign reserves

As a result, external reserves are expected to lie between $29.9 billion and $34.3 billion at end-December 2020 (predicated on current declining oil price between $20 and $40).”

CBN: Nigeria’s foreign reserve to drop below $34.3bn by December

Specifically, the degree of external reserves accumulation is expected to decelerate, as outflows are expected to outweigh inflows.

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Scam: South African brothers vanish with $3.6 billion in Bitcoin

This is not the first time cryptocurrency scams are happening in South Africa. This comes just after last year’s collapse of another South African Bitcoin trader, Mirror Trading International.

Policeman shot by suspected kidnappers is buried in Ekiti

the late police inspector was survived by an 80-year old mother, Mrs Olubiyo Abiola, a young wife and four female children, who are all in primary schools.

CSOs blast NASS over embarrassing leaking roof, flood during sitting

“It would be helpful for the NASS to review maintenance expenditure budgets over years to see exactly why the complex has been so badly maintained that it now requires the level of refurbishment that is being contemplated.”

N895.8bn Supplementary Budget scales second reading in Senate

“It has become necessary to prepare the 2021 supplementary appropriation bill considering the urgent need to make provision for procurement and administration of COVID-19 vaccines.