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CBN: Banks’ total assets hit N59.24trn in December

The total assets of the banking industry increased by N8.25trillion or 16.18 per cent to N59.24trilion in December 2021 from N50.99 trillion in the corresponding period of 2020, latest Central Bank of Nigeria (CBN) data shows. According to personal statements written by members of the CBN’s Monetary Policy Committee (MPC) at their meeting in January, […]

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CBN introduces additional measures to tackle over-invoicing, FX overpricing

In what it described as a regulation that is, “primarily aimed at achieving accurate value from import and export items in and out of Nigeria,” the Central Bank of Nigeria (CBN) yesterday announced the introduction of e-evaluator and e-invoice to replace hard copy final invoice as part of the documentation required for all import and […]

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Commodity Exchange: Why CBN swept out entire mgt

We retired in beautiful manner, says ex-CEO Facts are beginning to emerge why the Central Bank of Nigeria (CBN), the majority stakeholder in Nigerian Commodity Exchange (NCX), swept out the former Managing Director/CEO, Zaheera Baba-Ari, and the top management team. Investigations by this medium revealed that Ari was seen as a clog in CBN’s reforms […]

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CBN sold $5.83bn FX to dealers in H1’ 2021

…okays Abdullahi as Babalola’s successor in FBN HoldCo The Central Bank of Nigeria (CBN), has disclosed that it intervened in the foreign exchange market with sales totaling $5.83billion in the first six months of this year. The apex bank, which stated this in its “Financial Markets Department Half Year Activity Report 2021,” released yesterday, noted […]


CBN: Intensifying real sector intervention with 100 for 100 policy

Given that many financial experts attribute the positive Gross Domestic Product (GDP) numbers recorded by the country this year to the Central Bank of Nigeria (CBN)’s interventions in the real sector of the economy, the apex bank must have decided to step up its efforts in this direction with the introduction of a new scheme […]


CBN spent N58.6bn on printing banknotes in 2020

The Central Bank of Nigeria (CBN) has disclosed that it spent a sum N58.2billion to print the Naira notes in the fiscal year ended December 31, 2020. The cost incurred in 2020 was however lower by 28.84 percent compared to the amount spent to print banknotes in 2019. The Currency Operations Department of the CBN […]

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CBN spends N281.08bn on banknotes in 5 years

Earns N6.50bn from currency mgt in 2020 The Central Bank of Nigeria (CBN) spent a total of N281.08billion to print banknotes between 2016 and 2020, the 2020 annual report of the apex bank’s Currency Operations Department (COD) shows. According to the report, which was posted on the CBN’s website yesterday, the regulator incurred a total […]


MAN: Keeping fate with CBN’s decision on BDCs

With the Bureaux De Change (BDCs) operators pressurising the Central Bank of Nigeria (CBN) to reconsider its decision in order to stage a comeback to the forex market, the Manufacturers Association of Nigeria (MAN) has expressed its satisfaction with the BDCs remaining banned by CBN. TAIWO HASSAN reports It has been lot of challenges facing […]

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CBN directs banks to conduct stress tests

The Central Bank of Nigeria (CBN), yesterday, released revised guidelines on the Supervisory Review Process of Internal Capital Adequacy Assessment Process (SRP/ICAAP), which among other requirements, stipulate that deposit money banks (DMBs) “should conduct stress testing of their risk mitigation and control systems and the adequacy of their internal capital, in order to enhance the […]

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Banks to block accounts of new forex policy violators

…foil customers’ attempt to undermine new rules Bankers’ Committee mulls digitising retail process Deposit money banks in the country have warned members of the public, trying to contravene the new policy on retail forex sales introduced by the Central Bank of Nigeria (CBN), in the wake of its stoppage of forex sales to Bureaux de […]

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