Category:

With interest, commission, banks’ profit unaffected by Naira crisis

While the three-month cash shortage rocks Nigeria’s economy and Nigerians, banks that are at the centre of it all may emerge unscathed as almost all their income lines appeared unaffected. Financial experts have been focusing on the likely impacts of the Naira banknote crises on the financial performance of banks as they round up their […]

Continue Reading
Posted On :
Category:

CBN Increases Benchmark Interest Rate to 18%

The Central Bank of Nigeria on Tuesday raised its benchmark lending rate to 18 per cent in an aggressive push to contain the nation’s inflationary pressure. The CBN governor, Godwin Emefiele, announced this Tuesday after the apex bank’s Monetary Policy Committee (MPC) meeting that began Monday. Addressing journalists at the end of the two-day meeting […]

Continue Reading
Posted On :
Category:

New naira: Ganduje condemns PDP, NNPP’s support for CBN

Governor Abdullahi Ganduje of Kano State has condemned the support of the opposition Peoples Democratic Party and the New Nigeria Peoples Party for the Central Bank of Nigeria’s naira redesign policy. A statement by his Chief Press Secretary, Abba Anwar, said the governor made the remark on Monday while launching the distribution of palliatives to […]

Continue Reading
Posted On :
Category:

Naira Redesign: Governor Adeleke Meets CBN Officials, Calls for Sanctions against Banks Hoarding New Naira Notes

● We Thank Governor Adeleke for Maintaining Peace-CBN ● We Have Issued Queries to some Banks – CBN The Executive Governor of Osun State, Senator Ademola Adeleke has warned against hoarding of new naira notes by commercial banks, calling on the Central Bank of Nigeria (CBN) to sanction financial institutions involved in such anti-people activities. […]

Continue Reading
Posted On :
Category:

Falana writes CBN, demands details of new naira notes distribution

Rights activist and Senior Advocate of Nigeria, Femi Falana, has written to the Central Bank of Nigeria demanding details of the amount of new naira notes distributed to commercial banks across the country. He also demanded that the CBN should provide the list of customers who have withdrawn more than the N100,000 maximum sum approved […]

Continue Reading
Posted On :