cbn governor
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Nigeria Naira Woes: Presidency Addresses Speculation on CBN Governor's Future
Presidency denies rumors of President Tinubu asking CBN Governor Cardoso to resign over Naira's decline. Special Adviser Bayo Onanuga refutes claims on social media. Recent reports suggesting that President Bola Tinubu had requested the resignation of Central Bank of Nigeria (CBN) Governor... -
Nigeria Nigeria's $36B Foreign Reserves Face Pressure: CBN Sounds Alarm
Nigeria's central bank warns of risks to foreign reserves due to petrol subsidy removal and lower oil earnings. Despite $36.08 billion in reserves, increased debt servicing and potential capital outflows pose challenges. The CBN remains optimistic, citing favorable trade terms and rising oil... -
Nigeria CBN Governor Cardoso Faces Allegations of Financial Misconduct and Abuse of Office
Allegations of misconduct against Central Bank of Nigeria Governor Olayemi Cardoso and his deputies have surfaced, accusing them of misusing public funds and abusing their positions. With claims of extravagant allowances and improper hiring practices, calls for accountability are intensifying... -
Nigeria Lagos Court Orders Forfeiture of $2.04M, Properties Linked to Ex-CBN Governor Emefiele
A Lagos Federal High Court has ordered the interim forfeiture of $2.04 million and seven properties linked to former CBN Governor Godwin Emefiele. The EFCC alleges the assets were acquired through fraudulent activities. The ruling aims to prevent asset dissipation as Emefiele faces multiple... -
Nigeria Prosecution Stumbles as Documents Reveal Buhari’s Signature on Naira Redesign Approval
Former President Muhammadu Buhari's approval of Nigeria's naira redesign in 2022 surfaces during the trial of ex-CBN Governor Godwin Emefiele. The EFCC claims Emefiele proceeded without proper authorization. Court documents and testimonies reveal a complex narrative of approvals and technical... -
Nigeria CBN Governor Cardoso's Shock Move: 25 Directors Fired in Controversial Overhaul
CBN Governor Cardoso fires 25 of 29 directors in major shakeup, sparking debates on reform and allegations of tribalism. In a shocking move, the newly appointed Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has fired 25 out of the 29 directors he inherited upon assuming... -
Nigeria CBN Lifts Ban: Nigerian Fintech Giants OPay, Moniepoint to Resume Customer Onboarding
CBN announces the resumption of customer onboarding for Nigerian fintech giants like OPay and Moniepoint. Governor Cardoso underscores the need for enhanced regulatory frameworks to combat money laundering. The Central Bank of Nigeria (CBN) has announced the forthcoming resumption of customer... -
Nigeria Former CBN Governor Emefiele Granted N300 Million Bail Amid Allegations of Illegal Naira Printing
Former CBN Governor, Godwin Emefiele, granted N300 million bail by a Federal Capital Territory High Court amid charges of illegal naira printing by the EFCC. Emefiele pleaded not guilty to four counts. The court ruled for bail, requiring two sureties and travel document deposition. Trial set for... -
Nigeria Nigerians Angered by CBN's Directive on 0.5% Cybersecurity Levy Amid Economic Strain
CBN's new 0.5% cybersecurity levy directive stirs mixed reactions in Nigeria. Concerns arise over financial burdens and government allocation amid socio-economic challenges. The Central Bank of Nigeria (CBN) has issued a directive requiring deposit money banks to impose a 0.5% cybersecurity... -
Nigeria Former CBN Governor Emefiele Pleads Not Guilty to Abuse of Office Charges
Former Central Bank of Nigeria (CBN) Governor Godwin Emefiele has pleaded not guilty to a 26-count charge of abuse of office. Emefiele and his co-defendant, Henry Omole, appeared before Judge Rahmon Oshodi at the Ikeja High Court, where they both entered not-guilty pleas. The charges against... -
Nigeria Nigeria's Economy Receives Boost: CBN Announces $1.5bn Influx
The Central Bank of Nigeria (CBN) has reported a substantial inflow of over $1.5 billion in recent days, signaling a positive outlook for the nation's monetary policy initiatives. The announcement, made by the Bank's Acting Director of the Corporate Communications Department, Hakama Ali... -
Nigeria Forex Policy Shake-Up: Nigerians Skeptical as CBN Lifts Restrictions on Dairy Imports
The Central Bank of Nigeria (CBN) has announced a significant policy shift regarding foreign exchange (forex) restrictions on milk and dairy imports to address economic concerns and alleviate consumer burdens. This decision, revealed through a CBN circular dated March 12 with reference number... -
Nigeria Tension Mounts at CBN: Directors Linked to Emefiele's Era Set for Early Retirement
Amidst speculation and internal turmoil at the Central Bank of Nigeria (CBN), reports indicate that at least eight directors are facing early retirement. These directors, previously redeployed to FSS 2020, are now being asked to exit the CBN, sparking concerns and confusion among staff. While... -
Nigeria Emefiele's Quarters Saga: Nigerians Amazed at His Prolonged Stay at CBN Quarters
Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, is in the process of vacating the apex bank Governors' quarters in Lagos amidst an ongoing legal dispute. Reports indicate that a team, led by CBN Special Investigator Jim Obazee, is assisting Emefiele in relocating his personal... -
Nigeria Currency Traders Celebrate as Naira Makes Impressive Jump to N1,500/$
The Nigerian Naira continues its upward trend in the parallel foreign exchange (FX) market, reaching N1,500/$ on Wednesday. This remarkable 9.09% gain from the N1,650/$ recorded just two days earlier has caught the attention of currency traders, with bureau de change (BDC) operators quoting... -
Nigeria Nigerians Demand Action as CBN Governor Rejects Responsibility for Economic Woes
In the midst of Nigeria's economic challenges, Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), addressed concerns during the first Monetary Policy Committee (MPC) meeting since assuming office in September 2023. Denying responsibility for the current economic situation, Cardoso... -
Nigeria CBN Implements Drastic Measures: Interest Rates Skyrocket to 22.75% in Bid to Tackle Inflation Surge
In response to the persistent challenge of soaring inflation, the Central Bank of Nigeria (CBN) has announced a significant hike in the monetary policy rate, raising it by 400 basis points from 18.5% to 22.75%. CBN Governor Olayemi Cardoso revealed this decision during the 293rd Meeting of the... -
Nigeria Naira Crisis: CBN target BDCs With N2 billion Licence Fee
Amidst a deepening forex crisis pushing the naira to a historic low of N2,000 against the dollar, the Central Bank of Nigeria (CBN) has implemented robust measures against Bureau De Change (BDC) operators. In response to the economic downturn, the National Security Adviser, Mallam Nuhu Ribadu... -
Nigeria Nigerians Demand CBN Governor Cardoso's Resignation for Claiming His Job is the 2nd Most Difficult in the World
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso asserted that his role is the second most challenging on the planet. Addressing the 2024 First Plenary Assembly of the Catholic Bishops Conference of Nigeria, Cardoso highlighted the positive outcomes of the Federal Government's reform... -
Nigeria CBN's Currency Policy Update Sparks Controversy: Nigerians React to Shift from Dollar to Naira in International Transfers
Nigerians are experiencing a financial paradigm shift as banks roll out the full implementation of the Central Bank of Nigeria's (CBN) revised guidelines on international money transfers. The new guidelines, issued on January 31, 2024, bring an end to the era of receiving dollars from family...
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