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FG to sell crude in Naira to Dangote Refinery to strengthen Naira

The Federal Government has concluded plans to sell crude oil to Dangote Refinery in Naira. This is part of measures adopted to strengthen the currency and by extension...

CBN disburses N237bn banknotes to merchants, others in 2019

The Central Bank of Nigeria (CBN) has disbursed lower denomination banknotes worth N237.14 billion to microfinance banks (mfbs), merchants, shopping malls, market...

CBN authorizes banks to debit loan defaulters

Effective August 1, banks will be able to debit the accounts of loan holders in other banks to settle defaults, to enhance loan recovery across the banking sector. This...

Currency in circulation rises to N2.35trn Naira

Despite lockdown introduced to contain the spread of COVID-19 in the country, huge cash transactions in the economy had continued to rise as currency in circulation rose...

CBN limits healthcare research grant to N500m

The Central Bank of Nigeria (CBN) has pegged the maximum limit eligible for healthcare research, at N500 million Naira. This was listed among the CBN’s new guidelines...

NEXIM appoints CBN’s deputy governor as board Chairman

The Nigerian Export-Import Bank (NEXIM) has appointed Kingsley Obiora, deputy governor of the Central Bank of Nigeria (CBN), as it’s board chairman. NEXIM’s head of...

FG receives $311m Abacha loot from US

The sum of $311m stashed abroad by the late military dictator, Gen. Sani Abacha has been returned to the Nigerian government by the United States. In a statement issued...

CBN directs banks to stop workers’ sack

The Central Bank of Nigeria (CBN) and its Bankers’ Committee have urged banks nationwide to suspend its plans to retrench some of their employees. News making the...

N50bn CBN loans to SMEs, others end 2024

The Central Bank of Nigeria has set exit dates for its intervention loans to Small and Medium Enterprises, households and the pharmaceutical sector. SMEs have till...

80,000 households, businesses apply for CBN pandemic relief facility

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), says it received 80,000 applications for the N50 billion targeted credit facility...