central bank of nigeria news

Telecommunications firm, MTN Communications Limited has taken the Central Bank of Nigeria (CBN) and the office of the Attorney General of the Federation (AGF) to court. The move according to the firm was in order to protect MTN Nigeria’s assets and shareholders’ rights within the confines of...

The Central Bank of Nigeria, CBN, said it has returned to N65 billion excess charges deducted from bank customers’ account in 7 years. Governor, … Read more via Vanguard News – https://ift.tt/2Q12pd1 Get more: Nigeria Business News

(Reuters) – MTN Group’s plan to list its Nigerian unit in an initial public offering this year is under threat after the central bank ordered the South African telecoms giant to hand over $8.1 billion allegedly sent abroad illegally, sources said. Nigeria’s central bank alleged that … Read...

As the fines imposed on four banks by the Central Bank of Nigeria (CBN) and its directive to MTN Nigeria to refund a total of $8.134 billion over MTN illegal capital repatriation continue to generate concerns, the Central Bank is being advised to properly investigate MTN payments and … Read...

Nigeria’s central bank alleged that MTN used improperly issued certificates to transfer funds out of Nigeria after the telecoms giant converted shareholder loans in its Nigerian unit to preference shares in 2007. MTN denies the allegations. Read more via Nigeria News –...

Telecommunication firm MTN, yesterday, refuted claims by Central Bank of Nigeria (CBN) that it illegally repatriated $8.1billion from its Nigerian operations to offshore investors, in collusion with four Nigerian banks... Read more via Vanguard News – https://ift.tt/2NziN2J Get more...

MTN Nigeria has denied its involvement in the illegal repatriation of dividends worth $8.1bn between 2007 and 2015. The telecoms company in a statement Thursday by its Public Relations Manager, Funso Aina, acknowledged the receipt of a letter from the Central Bank of Nigeria (CBN) regarding...

As the Central Bank of Nigeria (CBN) last week released the guidelines for the disbursement of the single digit interest rate as well as issuance of corporate bonds particularly to critical sectors of the economy such as manufacturing, agriculture and other foreign exchange and employment...

President Muhammadu Buhari has declared that the N40 billion set apart by the Federal government under the Anchor Borrowers Program being managed by the Central Bank of Nigeria is specifically geared towards helping rice farmer across the country raise production The President stated this …...

The nation’s currency on Friday traded strong after the Central Bank of Nigeria (CBN) on Thursday, August 23 and Friday, August 24, 2018, injected a total sum of $543.22 million and CNY 63.21 million into the inter-bank foreign exchange market. Naira gained N0.25k against … Read more via...

The Central Bank of Nigeria (CBN) has floated a new corporate bond issuance programme. The issuance of the corporate bonds will support a long-term credit facility to Nigeria’s agriculture and manufacturing sectors. The spokesman for the CBN, Isaac Okorofor, explained that deposited money in...

Contrary to the perception in some quarters that it is not making sufficient effort to curb the circulation of dirty and tattered currency notes, the Central Bank of Nigeria (CBN) withdrew such notes valued at N977.23 billion from circulation last year... Read more via Newtelegraph –...

At its July 23-24, 2018 meeting, the Monetary Policy Committee decided by a vote of seven to three to retain the monetary policy rate (MPR) at 14.0 per cent. The nay-voters sought to raise the MPR by the relatively unimportant 25 basis points or 50 basis points. But … Read more via...

The Central Bank of Nigeria (CBN), says the aggregate foreign exchange inflow into the country stood at $91 billion in 2017. The bank disclosed in its 2017 annual report released on Thursday that the figure was an increase of 45 per cent from $62.75 billion … Read more via Premium Times...

The Central Bank of Nigeria (CBN) and the Bankers’ Committee thursday agreed to offer single-digit interest rate loans to operators in the manufacturing and agricultural sectors of … Read more via Thisdaylive – https://ift.tt/2PfTSCA Get more: Nigeria Business News

The Central Bank of Nigeria (CBN) will be refunding Cash Reserve Ratio (CRR) to banks that fund projects in agriculture and manufacturing sectors, its Director of Banking Supervision, Abdullahi Ahmad, has said.... Read more via TODAY.NG – https://ift.tt/2MWD4yP Get more: Nigeria Business News

The audited financial statements of the Central Bank of Nigeria (CBN) for the year ended 31st December, 2017 released in the eight month after the fiscal year of 2017 indicated that net income recorded … Read more via BusinessDay : News you can trust – https://ift.tt/2vPsaV8 Get more: Nigeria...

In about eight months after the 2017 fiscal year, the annual report of the Central Bank of Nigeria (CBN) has showed that it recorded N7.3 trillion revenue. The development, which also affirmed that finances … Read more via The Guardian Nigeria Newspaper – Nigeria and World News –...

For the 18th unbroken month, inflation rate continued a downward trajectory, declining from 11.23 per cent in June to 11.14 per cent in July. This is coming as the Central Bank of Nigeria (CBN) intensified its public enlightenment … Read more via Thisdaylive – https://ift.tt/2MTCIcB Get...

As part of efforts to aggressively accelerate financial inclusion in the country, the Central Bank of Nigeria (CBN), the Nigeria Interbank Settlement System (NIBSS), commercial banks and mobile operators are currently working on modalities to take the Bank Verification Number (BVN) enrolment to...