The Central Bank of Nigeria (CBN) has approved the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer (CEO) of Access Holdings Plc.
Agbede's appointment is following the untimely passing of its former Group Chief Executive Officer, Dr. Herbert Wigwe.
Her appointment was announced by the Board of...
In an apparent move to resolve the foreign exchange crisis in the country, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mallam Mele Kyari, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, have reviewed the decision of the...
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has expressed optimism that the nation's inflation rate which is currently at 28.92 percent would decline to 21.4 percent within the year.
Mr. Cardoso stated this Tuesday when he appeared before the House of Representatives to address critical...
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has disclosed that $2.4billion of the $7 billion Foreign Exchange backlog were invalid transactions.
Mr. Cardoso disclosed this while speaking during an Interview on Arise News Television on Monday, February 5, 2024.
He said, the apex bank has been...
The Central Bank of Nigeria (CBN) has clarified that there were no plans to Convert Domiciliary Account Holdings into Naira as alleged.
Recall that a national newspaper in its report alleged that the Federal Government was considering to convert $30billion domiciliary deposits to Naira.
However, the Ag. Director, Corporate Communications of...
Worried by the growth in foreign currency exposures of banks through their Net Open Position (NOP), the Central Bank of Nigeria (CBN) has issued Prudential Requirements for all Commercial Banks operating in Nigeria.
In a Circular referenced: TED/FEM/PUB/FPC/OOI/OOI issued on January 31, 2024, and signed by the Director, Trade and...
The Central Bank of Nigeria (CBN), has disbursed an additional $64.44 million to conclude payment of all verified claims by foreign airlines in the country.
This is in fulfillment of the pledge made by the CBN to clear the backlog of the foreign exchange owed the foreign airlines.
TheFact Daily had...
The Central Bank of Nigeria (CBN) has released a sum of US$500 million to various sectors, in its efforts to clear the backlog of verified foreign exchange transactions.
This comes barely a week after the Bank paid approximately US $2.0 billion to settle outstanding commitments across manufacturing, aviation, and petroleum...
Nigeria’s fastest-growing non-interest banking services provider, TAJBank Limited and Nigerian Postal Service (NIPOST) have formalized a new public-private partnership (PPP) initiative with a view to working together for mutual and the nation’s socioeconomic benefits.
The partnership between the non-interest lender and the postal services agency was formalized at the NIPOST...
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has stated that the nation's currency, the 'naira' is undervalued, therefore, a coordinated approach would be applied to expedite genuine price discovery.
Mr. Cardoso stated this while delivering his Keynote Address at the launch of the NESG 2024...
