Concerns have continued to mount over continuous depletion in the country’s disposable income, which stood at N30 trillion as at second quarter (Q2’18).
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Mr. Godwin Emefiele
CBN cautions FG on external borrowing
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday cautioned the federal government on the sharp increase in the size of the nation’s external debt which rose by 109 percent to $21.6 billion as at September 30th 2018, from $11.28 billion on June 30th, 2015.
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CBN to launch policy document on financial literacy framework
Uche Usim, Abuja The Central Bank of Nigeria (CBN), in its efforts to deepen financial literacy, will on January 17 and 18, launch key policy documents aimed at facilitating the attainment of the financial inclusion target of 80 per cent by 2020. Policy documents to be unveiled at the conference expected to attract over 400 […]
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2019 OUTLOOK: Financial analysts outline 7 factors that will shape banking industry
Developments in Nigeria’s banking industry in 2019 will be shaped by seven global and domestic factors which will work simultaneously to impact on banks’ profitability, earnings and non performing loans. They will come with likelihood of staff retrenchment and increased confrontation between shareholders and management of banks. The seven factors and how they will likely impact the industry are presented below.
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2019 Budget: Nigeria’s debt servicing ratio to worsen in 2019
Nigeria tops African countries remittances inflows, says Emefiele
NAN Mr Godwin Emefiele, the Central Bank of Nigeria (CBN) Governor, says Nigeria tops other African countries in remittances of inflows and is among the top five globally. He made this known at a remittance household surveys workshop jointly organised by the CBN and the African Institute for Remittances (AIR) on Tuesday in Abuja. Emefiele, who was […]
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FG spent $2.41bn to import rice in 3 years, says Osinbajo
Isaac Anumihe, Abuja The Federal Government, on Wednesday, said it spent $2.41 billion to import rice between January 2012 and May 2015. Making this known, in Abuja, the Vice President, Prof. Yemi Osinbajo, said it was against this backdrop that the Muhammadu Buhari administration considered agriculture as a priority sector. Osinbajo who spoke through the […]
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How N126bn acquisition deal, reckless loans sank Skye Bank
Omodele Adigun Just like a python that swallowed up mother elephant, the swallow of Mainstreet Bank in N126billion acquisition deal, as well as reckless inside-related loans, has become the albatross that finally grounded Skye Bank Plc. The cusp of its failings, as inferred from its 2016 take-over by the Central Bank of Nigeria (CBN), was […]
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Polaris Bank: Customers advise management on improved service delivery
NAN Some customers of Polaris Bank, formerly Skye Bank, in Sango-Ota, Ogun, have advised the management of the bank to improve on its service delivery to restore depositors’ confidence. They gave the advice in separate interviews with the News Agency of Nigeria (NAN) on Monday in Sango-Ota, Ogun. NAN reports that the Central Bank of […]
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Currency swap will not cover substandard good, says CBN
The Central Bank of Nigeria (CBN) said the currency swap agreement recently reached with the People’s Bank of China (PBoC), will not cover the importation of substandard goods into the country. The Central Bank Governor, Mr Godwin Emefiele, represented by the bank’s acting Director, Corporate Communications, Mr Isaac Okorafor, said this yesterday in Abuja, at theRead More
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