Tag: Godwin Emefiele
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CBN finally Bows to Pressure, says Old Naira Notes Legal Tender
Exactly 10 days after the Supreme Court judgement mandated the use of old N,1000 and N500 notes as legal tender till December 31, 2023, the Central Bank of Nigeria Governor, Godwin Emefiele, on Monday bowed to pressure and officially ordered commercial banks to comply with the court verdict. He also announced that the old N200,…
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We’re working to avert further Naira fall – CBN
The Central Bank of Nigeria (CBN) has assured that it would continue to make deliberate efforts in the foreign exchange sector to avert further downward slide in the value of the naira, which it said was fuelled by speculative tendencies. The Director, Corporate Communications at the CBN, Mr. Osita Nwanisobi, yesterday, advised the public to…
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Why CBN Supported Reddington to Set-Up Duchess Hospital – Emefiele
The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has said that the Duchess International Hospital, Ikeja, owned by the Reddington Hospital Group which successfully carried out leg surgery on Vice President Osinbajo recently is an exemplary model of Federal Government intervention through the CBN, in providing world class health facility in Nigeria to…
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External Reserves Swoop Low at $39.98bn
The Nigerian external reserves has witnessed the lowest point in three months according to a document released by Central Bank of Nigeria (CBN). According to data, the reserves dropped to $39.82bn on February 2, 2022 from its $40.53 billion as of December 30, 2021. The country’s external reserves had jumped from $39.82bn on October 15,…
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Nigeria’s Diaspora Remittances rose 15% to hit $9.3bn in H1 2021
………the highest since the Pandemic Inflows of diaspora remittances into the country registered an upward movement in the first half of 2021. According to Nigeria’s balance of payment account disclosed recently by the Central Bank of Nigeria, remittances climbed to $9.3 billion in H1 2021, a 15 per cent rise from the $7.9 billion recorded…
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CBN Projects three Per cent GDP Growth by end of 2021
The Central Bank Governor, Godwin Emefiele, has said that the country’s Gross Domestic Product can rise to three per cent by the end of 2021. He spoke during the 14th annual Chartered Institute of Bankers of Nigeria’s banking and finance conference with the theme, ‘Recovery, inclusion and transformation: The role of banking and finance’ in…
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CBN Halts Forex Sales To Bureau De Change Operators
The Central Bank of Nigeria (CBN) has banned the sales of foreign exchange (forex) to the Bureau De Change (BDCs) operators throughout the country. Godwin Emefiele, the governor of the CBN made this known to the public at the Monetary Policy Committee meeting in Abuja on Tuesday. The apex bank boss said the bank received…