yemi cardoso
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Nigeria CBN’s Olayemi Cardoso Addresses Floating the Naira and Its Impact on Inflation
CBN Governor Olayemi Cardoso explained the rationale for floating the Naira to align official rates with market realities. He highlighted the need for credibility in monetary policy, acknowledging criticism but emphasizing transparency and stability. Cardoso also discussed raising the Monetary... -
Nigeria CBN to Sanction Banks Failing to Dispense Cash via ATMs
The Central Bank of Nigeria (CBN) will penalize banks that fail to dispense cash via ATMs, aiming to ensure sufficient cash availability. CBN Governor Yemi Cardoso announced a monitoring system for compliance and plans to release an additional N1.4 trillion into circulation over the next three... -
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 Overhauls NIRSAL Leadership: All Executive Directors Sacked
The Central Bank of Nigeria (CBN) has sacked all executive directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL) as part of a major restructuring effort. Concerns grow over the impact on agricultural financing, with questions arising about NIRSAL’s future... -
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 CBN to Invest Unclaimed Funds in Treasury Bills and Government Securities
The Central Bank of Nigeria (CBN) will invest unclaimed balances in Treasury Bills and government securities. The newly released guidelines mandate timely refunds to beneficiaries and define eligible accounts. The CBN will maintain a dedicated trust fund and publish lists of unclaimed balances... -
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Business Naira stability: We are relatively pleased with how far we have gotten to up till now-CBN governor, Yemi Cardoso - Linda Ikeji’s Blog
https://www.lindaikejisblog.com/2024/6/naira-stability-we-are-relatively-pleased-with-how-far-we-have-gotten-to-up-till-now-cbn-governor-yemi-cardoso-2.html- Kayode Israel
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![Today's Naira Rate[26-06-2014]: Naira Weakens Further in Official Market, Hits N1,507.83 per Dollar](/data/attachments/205/205493-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate[26-06-2014]: Naira Weakens Further in Official Market, Hits N1,507.83 per Dollar
The naira weakened to N1,507.83 per dollar in the official market. Central Bank Governor Yemi Cardoso expressed optimism about managing currency volatility, citing recent stability and significant foreign exchange inflows. The Nigerian naira weakened to N1,507.83 per dollar at the official... -
![Today's Naira Rate [21-05-2024]: Naira Holds Steady at N1,465.68/$ Despite CBN Interest Rate Surge](/data/attachments/204/204165-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate [21-05-2024]: Naira Holds Steady at N1,465.68/$ Despite CBN Interest Rate Surge
Naira holds steady against the dollar despite CBN's interest rate hike to 26.25%. At NAFEM, the currency appreciates marginally by 0.23%. Market turnover increases by 66.14% to $268.17 million. CBN Governor Olayemi Cardoso expresses confidence in Nigeria's FX market, citing efforts to clear... -
Nigeria CBN Governor Yemi Cardoso Touts Naira as Best-Performing Currency Globally
Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), highlighted the success of the apex bank's foreign exchange (FX) reforms, asserting that they have propelled the naira to become the best-performing currency worldwide. Speaking during a briefing at the World Bank/IMF Spring... -
Nigeria Distress at CBN: Employees Express Fear and Anxiety Over Job Security as CBN Sacks 50 More Staff
The Central Bank of Nigeria (CBN) continues its wave of dismissals as 50 more staff members are terminated from their positions under the leadership of CBN governor Mr. Olayemi Cardoso. The recent round of layoffs spans across 29 departments, bringing the total number of casualties to 117 in the... -
Nigeria Nigerian Naira Shows Resilience, Rises to N1,120 Against Dollar in Par
The Nigerian Naira exhibited a remarkable appreciation against the United States Dollar on Monday, with significant gains observed in both the parallel market and the official foreign exchange (FX) window. This currency shift has drawn attention from investors, economists, and policymakers... -
Nigeria CBN Implements Ban on Foreign Currency Collaterals for Naira Loans: Economic Policy Shift Sparks Industry Response
The Central Bank of Nigeria (CBN) has enacted a ban on the utilization of foreign currency as collateral for naira-denominated loans. This directive, articulated in a circular dated April 8, 2024, and disseminated to all banks, aims to address prevailing economic challenges and reshape the... -
Nigeria CBN Sets High Bar: 25 Nigerian Banks Need N3.89 Trillion for Recapitalization
The Central Bank of Nigeria (CBN) has unveiled new capital requirements for banks, mandating 25 banks in Nigeria to raise approximately N3.89 trillion in fresh capital to meet the new minimum capital base. This move aligns with the CBN's efforts to strengthen the banking sector in line with... -
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 Major Banking Overhaul: CBN Sets ₦500 Billion Minimum Capital Base for Banks
Central Bank of Nigeria (CBN) has announced sweeping changes to minimum capital requirements for banks. The circular, signed by Haruna Mustafa, Director of the Financial Policy and Regulation Department, mandates commercial banks with international authorization to maintain a staggering... -
Nigeria CBN Shocks Markets: Raises MPR to Record 24.75%, Businesses and Consumers to Face Higher Loan Costs
After its 294th meeting, the Central Bank of Nigeria (CBN) has made a bold move by increasing the Monetary Policy Rate (MPR) by 200 basis points to an unprecedented 24.75%. Led by CBN Governor Yemi Cardoso, this decision underscores the bank's unwavering commitment to combating inflationary... -
Nigeria Nigeria's Central Bank Initiates Dollar Sales to BDCs to Boost Forex Liquidity
Amidst Nigeria's evolving economic landscape, the Central Bank of Nigeria (CBN) has taken significant steps to bolster liquidity in the foreign exchange market, signaling a potential shift in the nation's currency dynamics. In a recent circular addressed to Bureau De Change operators (BDCs)... -
Nigeria CBN Exposes Financial Strain: 31 States Default on N339.9bn Loans
The Central Bank of Nigeria (CBN) has revealed that as of September 2023, thirty-one state governments collectively owe a staggering sum of N339.9 billion. This debt stems from funds acquired to cover workers' salaries between 2015 and 2023, facilitated through the Salary Bailout Facility...
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