Posts Tagged ‘CBN’

CBN Places Outright Forex Ban On Importation Of Maize

by Seun Adeuyion July 14, 2020
As part of efforts to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods and create jobs, the Central Bank of Nigeria (CBN), yesterday, discontinued the processing of Forms M for importation of maize/corn into the country. Form M is a mandatory documentation process to be completed by all importers for importation of […]

Currency In Circulation Dropped By N52.5bn — CBN

by Seun Adeuyion July 10, 2020
The latest figures obatained from the Central Bank of Nigeria (CBN), on Wednesday showed that Currency in circulation dropped by N52.5bn from N2.35tn at the end of May to N2.29tn in June. Recent figures showed that there was a steady rise in cash in circulation during the lockdown introduced in some states to contain the […]

CBN Set To Empower 1,000 Cassava Farmers In Ekiti

by Seun Adeuyion July 8, 2020
No fewer than 1,000 cassava farmers in Ekiti state are to be empowered by the State Government, in partnership with the Central Bank of Nigeria (CBN), to ensure increased cultivation of the commodity in the state. Governor Kayode Fayemi, represented by the Commissioner for Agriculture, Chief Folorunso Olabode, who spoke in Ado Ekiti on Tuesday […]

CBN Seeks Increased Local Production In Agric Sector To Enhance Growth, Boost Employment

by Seun Adeuyion June 30, 2020
Central Bank of Nigeria (CBN) is stimulating local production in the agriculture business to enhance growth and boost employment in the country. This is according to the apex bank’s, Director of Development Finance Department, Yila Yusuf, in a statement. According to the statement, some of the CBN’s agribusiness initiatives are the Agricultural Credit Guarantee Scheme […]

CBN Discredits Twitter Handle Impersonating Its Director

by Seun Adeuyion June 29, 2020
Central Bank of Nigeria (CBN), on Sunday, described as fraudulent the operations of a fraudulent twitter handle, @YusufPhilipYila, purported to belong to the bank’s Director, Development Finance Department, Mr Philip Yusuf. In a statement endorsed by CBN’s Director of Corporate Communications, Isaac Okorafor, the impostor handle had been posting messages related to the bank’s N50bn […]

CBN Debits Banks N126bn In Bid To Strengthen Naira

by Seun Adeuyion June 22, 2020
As part of measures to strengthen the naira, the Central Bank of Nigeria (CBN), has debited N216bn from banks with excess cash holdings. Last week, Reuters reported that the naira had come under intense pressure in recent months during the coronavirus pandemic. A sharp fall in the price of oil – Nigeria’s main export – and […]