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Tag Archives: CBN

CBN Releases Guidelines For Payment Service Banks

   From Udo Onyeka, Lagos   In order to deepen and sustain financial inclusion thereby reaching the unbanked poor with banking and other financial services, the Central Bank of Nigeria (CBN) on Thursday, released new guidelines and regulations for Payment System Banks (PSBs) in the country.

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CBN Injects Fresh $210m into the FOREX Market

    By Tony Obiechina  Authorized dealers in the wholesale segment of the inter-bank foreign exchange market received the sum of $100 million as intervention from the Central Bank of Nigeria (CBN) on Tuesday, to meet the requests of their customers. The CBN also allocated the sum of $55million each to the …

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CBN Explains Measures To Protect Nation’s Economy

The Central Bank of Nigeria (CBN) says the restriction on official foreign exchange for importation of 41 items in 2015 was to reverse the multiple challenges of dwindling foreign reserves, contracting gross domestic product (GDP), curb growing unemployment and protect the economy.

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Recapitalization: 200 MFBs Risk CBN Hammer 

  By Tony Obiechina  At least 200 micro-finance banks (MFBs) in the country may have their operating licences revoked by the Central Bank of Nigeria (CBN) any time from now. DAILY ASSET learnt that this may be as a result of  the inability of affected MFBs to recapitalise as directed …

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CBN Increases MFBs’ Capital Base To N5bn

     By Tony Obiechina  The Central Bank of Nigeria (CBN) has raised the minimum capital base of microfinance banks (MFBs) in the country to N5 billion giving them up to April 2020 to recapitalise. This was contained in circular signed and issued by the CBN Director of Financial Policy …

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CBN Disburses N615bn to Farmers in 2018

    By Tony Obiechina  The Central Bank of Nigeria (CBN) has released a total of N615.43 billion to participating banks under the Commercial Agriculture Credit Scheme (CACS) as at August 2018 for disbursement to farmers since the inception of the scheme. The fund was for a total 568 projects. …

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CBN Targets Stable Exchange Rate to Protect Naira

  By Tony Obiechina  A stable exchange rate to avoid depreciation of the naira is Nigeria’s target now, Central Bank of Nigeria (CBN) Governor Godwin Emefiele has disclosed. He said as good as building reserves is, the present economic situation cannot allow that. Besides, the country is not ready to …

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Civil Societies Urge CBN to Sustain Drop in Inflation

  By Onuoha Rita Coalition of Civil Society Groups, CCSG has urged the Central Bank of Nigeria, CBN, to sustain the recent drop of inflation rate which it noted was a result of increase in classifications of individual consumptions in the country. Rising from its 4th All Nigeria Civil Societies Economic …

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