The Central Bank of Nigeria on Tuesday dismissed fears that the planned introduction of N5000 note could engender inflation. The apex bank said the fears expressed by Nigerians, including economists and finance experts, had no basis in economics. It threw a challenge to economists against the move to make public, any theory that opposes higher […]
From ADETUTU FOLASADE-KOYI, Abuja Senate yesterday ordered the Central Bank of Nigeria (CBN) to stop any action on the issuance of N5, 000 note and its proposed restructuring of other currencies. The CBN said last Thursday, that the new note would come into effect next January while the N5, N10 and N20 notes would be […]
CBN governor Sanusi Lamido Sanusi Many Nigerians are speaking against the introduction of N5,000 note by the Central Bank of Nigeria, (CBN) even as the Governor of the apex bank Sanusi Lamido Sanusi explained that the new bill is introduced to cushion the effect of “inflationary pressures.” According to him, by next year, all coins […]
NEW legal tender will be introduced in the country early next year by the Central Bank of Nigeria (CBN), it has now been confirmed. It’s a N5,000 bill, which will, among others, have the features of three female Nigerian nationalists: Margaret Expo, Funmilayo Kuti and Gambo Sawaba on it. According to the CBN Governor, […]
Justice Hussein Baba-Yusuf of the FCT High Court on Thursday gave CBN Governor Sanusi Lamido Sanusi, a last chance to obey court order or face “the consequences of disobedience’’. Baba-Yusuf gave the warning following complaints by Chief Tochukwu Onwugbufor (SAN), counsel to Chief Chudi Chukwuani, that the CBN had flouted a court order that mandated […]
Indications have emerged that some Deposit Money Banks in the country may close their foreign subsidiaries due to inability to meet capital requirements of host regulators. It was gathered that some banks had engaged in capital outflow to meet the recapitalisation of their foreign subsidiaries. The CBN, however, in a circular on Wednesday, signed by […]
To effectively check fraud in the electronic payment (e-payment) channels, the Central Bank of Nigeria (CBN) and relevant stakeholders have co-opted the Economic and Financial Crimes Commission (EFCC) into the Nigeria Electronic Fraud Forum (NEFF). According to CBN’s Head of Shared Services, Mr Chidi Umeano, the decision to involve EFCC in NEFF is to ensure […]
June 19, 2012 by John Ameh, Abuja 35 Comments CBN Governor, Sanusi Lamido Sanusi | credits: File copy House of Representatives and the Central Bank of Nigeria, Governor Lamido Sanusi, on Monday disagreed over the power of the bank to authorise expenditure without recourse to the National Assembly. Members of the House Committee on Banking […]
The Governor, Central Bank of Nigeria, Mallam Lamido Sanusi, on Wednesday caused a stir at the bank’s headquarters in Abuja when he appeared in his traditional chieftaincy attire. Sanusi, was last Saturday installed as the Dan Majen of Kano by the Emir of Kano Ado Bayero. The installation came barely a week after the bank […]
By Babajide Komolafe LAGOS —The Central Bank of Nigeria, CBN, yesterday, imposed fresh condition for owning a bank account saying that from January 8, 2013, the National Identity Number, NIN, would be criteria for owning and operating a bank account in the country. To this effect, from September 1 this year, CBN in conjunction with […]
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