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Priscilla Ekwere Eleje – The First Female Director Of Currency In Nigeria

Priscilla Ekwere Eleje – The First Female Director Of Currency In Nigeria

For the first time since the inception of Nigeria’s statehood, the signature of a woman will appear on country’s naira notes. This is because Mrs Priscilla Ekwere Eleje has been confirmed as a Substantive Director of the Central Bank of Nigeria, CBN. Before now, she was an  Acting Director of Currency and Operations at the CBN. The appointment […]

Emefiele Pledges More Support for Women Entrepreneurs

Emefiele Pledges More Support for Women Entrepreneurs

Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele has reiterated his commitment to help women entrepreneurs in Nigeria overcome the enormous challenges on their way to financing, owning, and growing businesses, in order to advance women economic empowerment and gender equality. The CBN Governor said already, the apex bank has developed various gender-responsive […]

Mojekwu, Awosika, Seek Adoption Of 30% Female Representation On Board of Nigerian Firms’

Mojekwu, Awosika, Seek Adoption Of 30% Female Representation On Board of Nigerian Firms’

The Director, Capacity Building, Central Bank of Nigeria (CBN), Chizoba Mojekwu, has stressed the need for financial institutions to shun gender disparity and implement the minimum 30 per cent female representation on the board of companies operating in the country. Similarly, the Chairperson, First Bank of Nigeria Limited, Mrs Ibukun Awosika, said for the nation […]

CBN Uncovers Serial Fraud In Four Banks

CBN Uncovers Serial Fraud In Four Banks

Four commercial banks have been sanctioned by the Central Bank of Nigeria (CBN) for various forgeries in foreign exchange transactions between 2007 and 2015. For these infractions, they are to refund N5.87 billion to the apex bank. CBN’s Director, Corporate Communications, Isaac Okorafor, said yesterday in Abuja that investigations specifically revealed that $3.45 billion was […]

Central Bank Unable to Meet, Holds Rate at 14%

Central Bank Unable to Meet, Holds Rate at 14%

The Central Bank of Nigeria won’t hold its monetary policy meeting scheduled for Monday and Tuesday because it’s unable to form a quorum as lawmakers haven’t approved monetary policy committee members, it said. The CBN “shall continue to maintain key monetary policy variables as decided by the last monetary policy committee meeting” in November, Governor […]

Emefiele Expects Rate to Be Held Next Week

Emefiele  Expects Rate to Be Held Next Week

Nigeria’s central bank governor expects the Monetary Policy Committee to hold its main interest rate at next week’s meeting. “I don’t think rates will change,” Godwin Emefiele said in an interview in Abuja, Nigeria’s capital, Wednesday. “Normally, when you begin the year, what you find is that you want to hold the policy rate steady.” […]

Nigeria’s Half-Measures on Currency Are Only Half-Working

Nigeria’s Half-Measures on Currency Are Only Half-Working

A year after Nigeria scrapped a currency peg that sent foreign investors fleeing, it’s still battling to entice them back. But trying to placate investors by introducing multiple exchange rates isn’t going to work, bond funds and Wall Street lenders including Citigroup Inc. say. To end the dollar shortage that has hamstrung West Africa’s biggest economy and […]

CBN Offers N2bn Agric Loan To Shonga Farms

CBN Offers N2bn Agric Loan To Shonga Farms

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said that the bank and Committee of Governors have decided to supplement the foreign investment in the poultry syndicate of Shonga Farms Holdings Limited in Kwara State with a loan of N2 billion under the Commercial Agricultural Credit Scheme. Emefiele disclosed this during […]

Erisco Foods Exits Nigeria, Moves To China

Erisco Foods Exits Nigeria, Moves To China

A leading indigenous local tomato paste manufacturer, Erisco Foods Limited, has made good its threat of shutting down the $150bn plant and relocating its manufacturing base to a location outside Nigeria. The Chief Executive Officer, Erisco Foods Limited, Chief Eric Umeofia, announced on Tuesday that the company was winding down operations preparatory for its final […]

CBN, Heritage Bank Disburse N774m To Young Entrepreneurs

CBN, Heritage Bank Disburse N774m To Young Entrepreneurs

The Central Bank of Nigeria (CBN) in collaboration with Heritage Bank Plc yesterday commenced the actual disbursement of a total sum of N774 million to 310 of the Youth Innovative Entrepreneurship Development Programme (YIEDP). The beneficiaries were youths whose business proposals were found worthy for the initial disbursement. CBN Governor, Mr. Godwin Emefiele launched the […]

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