African Export-Import Bank (Afreximbank) has announced the enhancement of the financing facility provided to Fidelity Bank plc, Nigeria under the Afreximbank Trade Facilitation Programme (AFTRAF). The decision to increase Afreximbank's support is consistent with the economic and commercial success of the financing facility, the first US$125 million of which has...
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has advanced reasons why the Monetary Policy Committee (MPC) of the bank voted unanimously to raise the Monetary Policy Rate (MPR) from 17.5 percent to 18.0 percent. MPC’s decision to raise the benchmark interest rate by 50 basis...
The President of the Commonwealth Association of Tax Administrators (CATA) and Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami has charged Tax Administrators to embrace new technologies for effective and efficient tax administration in the fourth industrial revolution age. His Special Assistant on Media & Communication, Johannes Oluwatobi...
The Nigeria's Federal Inland Revenue Service (FIRS) and the United Kingdom’s His Royal Majesty’s Revenue and Customs (HMRC) has signed a Memorandum of Understanding aimed at fostering improved collaboration on capacity building between the two tax authorities. Special Assistant to the Executive Chairman, FIRS, on Media & Communication, Johannes Oluwatobi...
The Central Bank of Nigeria (CBN) has directed all Deposit Money Banks (DMBs) in the country to recirculate the old N200, N500 and N1,000 banknotes. CBN's Ag. Director, Corporate Communication, Isa AbdulMumin announced this in a statement on Monday, March 13, 2023. The apex bank noted that "in compliance with the...
The Central Bank of Nigeria (CBN) has urged Politicians in the country to allow its Governor, Mr Godwin Emefiele and his team achieve the statutory mandate of the Bank. CBN's Ag. Director, Corporate Communications, Isa AbdulMumin made the appeal in a statement on Monday, March 13, 2023. The apex bank statement...
The African Development Bank (AfDB) and the Coalition for Dialogue on Africa (CoDA) have officially launched a three-year support project to improve regional coherent and coordinated response to illicit financial flows. The project will help African stakeholders actively engaged in stemming such flows to improve domestic revenue mobilization in African...
The Central Bank of Nigeria (CBN) has disclosed that total loan repayments under the Anchor Borrowers’ Programme (ABP) as of the end of February 2023 stood at N0.503 trillion, representing 52.39 per cent, adding that the balance of N0.119 trillion was not due for repayment. The Acting Director, Corporate Communications...
The Central Bank of Nigeria (CBN) has appointed Dr. Isa Abdulmumin as the Acting Director of Corporate Communications Department of the bank. Isa Abdulmumin’s appointment followed the retirement of Osita Nwanisobi as the Director. Isa Abdulmumin, a Deputy Director, who has been in the service of the bank for several years,...
...Goes After Purveyors Of Fake News The Central Bank of Nigeria (CBN) has re-emphasied its stand by the Presidential Directive to re-issue Only 200 Naira Old Banknotes. CBN's decision was disclosed in a statement jointly signed by the Deputy Governor, Corporate Services, CBN, Edward Adamu and Director, Corporate Communications, CBN, Osita...