Reps summon CBN gov over Islamic banking, cashless economy policy

The House of Representatives, on Tuesday, summoned the governor of Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, to appear before it on Thursday to expatiate on the cashless  economy policy and the controversial Islamic banking introduced by the apex bank. The House resolution to summon the CBN governor was sequel to a motion […]

Islamic banking: CBN chief escapes corps members’ wrath in Asaba

 DELTA State Controller of the Central Bank of Nigeria, CBN, Mrs. Elizabeth Agu, weekend, narrowly escaped the wrath of some youth corps  members in the state, when she delivered a paper by the CBN Governor, Sanusi Lamido Sanusi, which touched on the controversial Islamic banking system soon to be introduced in the country. Agu who […]

Sanusi: Why Nigeria has failed to achieve economic growth

CENTRAL Bank Governor, Mallam  Sanusi Lamido Sanusi has given reasons why Nigeria has continually  failed to achieve meaningful economic growth. Sanusi gave the reasons while delivering the First Professor William Okefie Uzoaga Memorial Lecture organised by the Department of Banking and Finance, University of Nigeria, Enugu Campus. Speaking on the topic “Growing Nigeria’s Real Sector […]

CBN to nationalise failed banks •Queries UBA over N25,000 minimum balance

CENTRAL Bank of Nigeria (CBN) has reiterated its determination to nationalise banks that are unable to meet the September 30 deadline to increase their equity, rather than forcing them to liquidate. Speaking in Pretoria, South Africa, Deputy Governor, Financial System Stability, CBN, Kingsley Moghalu, said the Asset Management Corporation of Nigeria (AMCON), created by the […]

Islamic banking,Takaful insurance solidify Sharia

With the expansion of the Islamic communities across the globe, Islamic banking and takaful insurance are already playing vital roles in today’s global financial village. Operators of Islamic banking argued that Islamic banking cannot be fully Sharia based unless there is Takaful to take care of their insurance businesses. The Governor of the Central Bank […]

Islamic Banking: Sanusi warns Muslims against joining issues with Christians

KANO – The Central Bank Governor, Malam Sanusi Lamido Sanusi has cautioned Muslim faithful not to join issues with Christians over their opposition to the proposed introduction of Islamic Banking System in the country, saying the idea for the new system was rooted in the 1999 Constitution. Sanusi who addressed Muslim clerics in Kano, weekend, […]

CBN spends N150bn annually to maintain naira notes – Moghalu

Lagos— THE Central Bank of Nigeria, CBN, Deputy Governor (Financial System Stability), Dr Kingsley Moghalu, says the apex bank spends about N150 billion annually to maintain the naira. Moghalu, who disclosed this at a public forum in Lagos, said the amount was used to produce, store, transport, protect and destroy the naira notes every year. […]

Islamization of Nigeria: CBN Defends Islamic Banking

The Central Bank of Nigeria (CBN) has defended the introduction of Islamic banking model in the country, saying that it is obliged, by law, to issue licences to appropriate entities for the establishment of  non-interest banking (NIBs) provided they meet the regulatory requirements for licences. Deputy governor (financial system stability) Dr. Kingsley Moghalu, who made […]

Anglican bishops kick against proposed Islamic bank

Bishops of the Dioceses in  the Church of Nigeria Anglican Communion have urged the Senate and Federal House of Representatives not to pass any bill that would make the proposed Islamic bank to see the light of the day. The Anglican Bishop of Enugu,  Rt. Rev. Emmanuel Chukwuma who disclosed this to newsmen in Enugu also […]

CBN Governor Should Work for Real People – By Anthony A. Kila

By Anthony A. Kila, London, UK – May 16, 2011 – Even when joyful, it is always advisable to keep one’s eyes open. The recent inclusion of the Central Bank of Nigeria (CBN) Governor, Lamido Sanusi, on the celebrated list of the 100 most influential people in world has filled many of us with pride […]

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