News

NANS rejects calls for Emefiele’s sack over rising external debt, exchange rate

The National Association of Nigerian Students (NANS) has disapproved the agitation by a section of the body demanding the immediate sack of the Central Bank of Nigeria Governor, Dr. Godwin Emefiele over rising external debt and exchange rate at the international market. The students’ body said rather than making such an ill-conceived and ill-timed demand […]

Business Top Stories

Senate summons CBN governor over naira fall

Currency depreciates to N700 The Senate, yesterday, summoned the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to brief senators on the reasons for the rapid depreciation of the value of naira. The Chamber also mandated the Senate Committee on Banking, Insurance and Other Financial Institutions to assess the impact of CBN intervention […]

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CBN warns banks, customers against illegal forex deals

…raises interest rate to 14% …disburses N20bn rebates to non-oil exporters Citing the need to decisively rein in inflation, the Monetary Policy Committee of the Central Bank of Nigeria has increasedthebenchmarkinterest rate -MonetaryPolicyRate (MPR)- by 100 basis points to 14 per cent from the 13 per cent thatit hadraisedthe rate to in May. CBN Governor, […]

Business

RT200: Summit boosts prospects for Nigeria’s non-oil exports

The highly enlightening presentations and discussions at the maiden edition of the biannual RT200 Non-oil Export Summit, which took place in Lagos, last Thursday, must have bolstered the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele’s belief in the country’s ability to earn substantial FX earnings from its non-oil exports, writes TONY CHUKWUNYEM When […]

Business

Leveraging remittance inflows for Nigeria’s economic growth

Given that latest data released by the World Bank confirms Nigeria’s position as the top remittance recipient in sub-Saharan Africa, the fiscal authorities and stakeholders should intensify collaboration with the Central Bank of Nigeria (CBN) to boost remittance flows to the country, writes TONY CHUKWUNYEM As part of “The Davos Agenda” last year, the World […]

News

Report: CBN Gov, Emefiele, joins presidential race, obtains APC form

    The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, on Friday picked the expression of interest and nomination forms to contest the presidential ticket on the platform of the All Progressives Congress (APC). Emefiele picked his form at the office of party’s organising secretary, at the International Conference Centre (ICC) in Abuja, […]

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Emefiele: Naira free-float’ll create exchange rate spiral

…promises end to petroleum subsidy next yearFayemiLawan The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has again justified the apex bank’s decision not to yield to the demand of International Monetary Fund (IMF) and the World Bank to adopt a free float of the naira. According to him, for as long as demand […]

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Emefiele: CBN’s interventions, policies yielding results

Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has again defended the bank’s various development finance initiatives aimed at diversifying the economy from oil. He stated that the positive outcomes of the interventions, so far, justified the apex bank’s approach. He stated this at the opening of the 32nd Seminar for Finance Correspondents […]

Politics

2023: For Emefiele, the calls persist

FELIX NWANERI reports on the clamour by several groups across the country for the governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to join the presidential race The build-up to the 2023 presidential election has forced most politicians and political groups across Nigeria to return to politics of endorsement, given the gale […]

Business

CBN: Targeting increased non-oil FX with RT200

With Nigeria clearly facing challenges benefitting from the recent surge in the price of oil (the commodity that accounts for the bulk of the country’s foreign exchange earnings), the Central Bank of Nigeria (CBN) believes that its new scheme, the RT200 FX programme, will play a major role in helping to raise non-oil FX earnings, […]

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