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CBN, MPC, Credit risk, LDR, Central Bank of Nigeria, Devaluation

UPDATED: Devaluation is here as CBN sells dollars at N380/USD

The Central Bank of Nigeria (CBN) has reportedly devalued the Naira. Nairametrics found from a reliable source that the CBN moved the rate of foreign exchange to Foreign Portfolio Investors (FPIs) from N366.70 to N380.20/USD.
Aisha Buhari, the President Buhari's daugther on self-isolation after UK trip

President Buhari’s daugther on self-isolation after UK trip

One of the daughters of President Muhammadu Buhari is currently in self-isolation after she returned from the United Kingdom (UK).
Treasury Bill Investment: Ghana Vs Nigeria, Further rate decline expected as N405 billion worth of treasury bills mature , CBN’s N225.45 billion T-bills auction records oversubscription, as rate fall below 5% 

Nigerian Treasury Bills real interest rate falls to -12%

The latest data from the Central Bank of Nigeria revealed that the Nigeria’s 364-day treasury bills have fallen to 4.6%
Mobile money loan CBN Governor, CBN, Three PSBs get Apex Bank’s provisional to commence operations, Milk Import: Experts advise CBN on FX restriction , CBN automates trading system, introduces electronic form to facilitate exports , CBN campaigns for Made-in-Nigeria products 

CBN offers N1.1 trillion intervention fund to support real, health sectors

Central Bank of Nigeria has disclosed that the apex bank would support critical sectors of the economy with N1.1 trillion intervention fund. This was stated by the Godwin Emefiele, Governor of the apex bank on Wednesday in a statement.
Lagos offers tech founders N250 million seed fund, cuts stringent access , Governor Sanwo-olu launches 14 ferries to tackle gridlock, says Okada ban irreversible, ride-hailing

Lagos to stop Sunday, Juma’at services

Commissioner for Information, Lagos State, Gbenga Omotosho, has disclosed that the state will ask religious leaders to stop Friday (Juma’at) and Sunday service.
JUST IN: Second case of Covid-19 now tests negative

Nigeria confirms 5 new cases of COVID-19

Nigeria has confirmed five new cases of Coronavirus infection in the country.
FG divided over housing deficit as the number rises to 22 million , FG bars public officials from travelling abroad, FG issues travel ban on US, Italy, China, UK, 9 others over COVID-19

FG issues travel ban on US, Italy, China, UK, 9 others over COVID-19

The Federal Government has issued a travel ban against 13 countries  to curb the spread of Coronavirus (COVID-19).
NYSC's orientation suspension only a precautionary measure- DG, NYSC

Just-in: NYSC’s orientation suspension only a precautionary measure- DG, NYSC

The Director General, National Youth Service Corps (NYSC), Brigadier General Shuaibu Ibrahim, has explained that no  case of Coronavirus has been recorded at the orientation camp and that the exercise was suspended as a precautionary measure to curb the spread of COVID-19. 
Zenith Bank GMD Ebenezer Onyeagwu, Central Bank of Nigeria, CBN's loan-to-deposit ratio policy, Nigerian Stock Exchange NSE stocks, Banks in Nigeria, Deposit Money Banks in Nigeria, Zenith Bank announces close period ahead of Q3 2019 results, Zenith Bank collaborates with fintechs, but insists it is not scared to compete with them

Zenith Bank clears air, denies binding offer to acquire any bank

Zenith Bank Plc has cleared the air that it has no binding offer to acquire any financial institution.
COVID-19: How the tables turned on Europe, COVID-19: The rich also cry, Coronavirus, Avoiding 2016: What Nigeria should do to fight the coming economic storm

Third case of Coronavirus confirmed in Lagos

The Lagos State Government has confirmed yet another case of the coronavirus in Lagos Nigeria.

Popular

CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele  , Increasing food prices might erase chances of CBN cutting interest rate   , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million  , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, CBN, Bankers Committee move to revive National Theatre with N25 billion , Nigeria’s 3.46 trillion fiscal deficit a source of concern – MPC Member , CBN says Nigerian banks assets and liabilities is now at N41.42 trillion , BVN: CBN to link 100 million banks accounts through proactive means, Foreign reserves drops $4.45 billion, edges closer to $30 billion devaluation benchmark, Payment system framework: CBN provides guidelines to address systemic risk, others, CBN retains Loan to Deposit Ratio at 65% as against increment to 70% , Federal High Court could jail Emefiele over $53 million judgment debt, CBN strongly denies establishing a poultry farm to support its monetary policies, Analysts explain when, why CBN could devalue naira by 5-10%, Banking: Surprise hike in CRR-Implications for banks, Agriculture: Suing ABP beneficiaries; A wild goose chase? , CBN lists major constraints affecting businesses, as borrowing rates projected to rise, CBN’s N287.8 billion T-bills auction records oversubscription, as rates fall marginally, CBN to give Niger Delta rice farmers single-digit loan , Naira and exchange rates, Insufficient electricity, unfavourable economy are among challenges hindering companies –CBN, Banks: Microfinance banks in Nigeria, REMINDER: Nationwide implementation of cashless policy starts April 1st, RESCUE MISSION: CBN coordinates banks, other financial institutions, to raise N1.5 trillion for infrastructure, Banking: Another wave of consolidation?, CBN pays $4.45 billion external debt obligation to World Bank, others in 2-month

BREAKING: Fitch downgrades Nigeria’s IDR to “B”, says CBN’s remedial policy not enough

A new report by Fitch has downgraded Nigeria's Long-Term Foreign-Currency Issuer Default Rating (IDR) to a 'B' rating. 
COVID-19: 6000 cases are being monitored – NCDC, COVID-19: NCDC distributes medical supplies to states, NCDC activates new facility for COVID-19 testing

NCDC activates new facility for COVID-19 testing

The Nigeria Centre for Disease Control (NCDC) has activated a new COVID-19 testing facility in Lagos.  
Driving tax revenue growth, FIRS retires coordinating directors, appoints new ones, COVID-19: FIRS grants concessions to taxpayers, outlines other measures

COVID-19: FIRS grants concessions to taxpayers, outlines other measures

The FIRS, in its response to the impact of COVID-19 in its operations, has launched business continuity plan and measures to ensure the safety of taxpayers.
Global stocks tumble on "corona" sell off, BLOODY WEEKS: Coronavirus cost investors N1 trillion, triggers devaluation fears, Global Market Summary on Tuesday, Analysis: The economy is crashing, avoid falling knives,, Debt crisis looms in emerging markets,Debt crisis looms in emerging markets

Debt crisis looms in emerging markets

Emerging market economies could begin defaulting on their bonds in the coming weeks,this is due to the COVID-19 pandemic.
CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele  , Increasing food prices might erase chances of CBN cutting interest rate   , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million  , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, CBN, Bankers Committee move to revive National Theatre with N25 billion , Nigeria’s 3.46 trillion fiscal deficit a source of concern – MPC Member , CBN says Nigerian banks assets and liabilities is now at N41.42 trillion , BVN: CBN to link 100 million banks accounts through proactive means, Foreign reserves drops $4.45 billion, edges closer to $30 billion devaluation benchmark, Payment system framework: CBN provides guidelines to address systemic risk, others, CBN retains Loan to Deposit Ratio at 65% as against increment to 70% , Federal High Court could jail Emefiele over $53 million judgment debt, CBN strongly denies establishing a poultry farm to support its monetary policies, Analysts explain when, why CBN could devalue naira by 5-10%, Banking: Surprise hike in CRR-Implications for banks, Agriculture: Suing ABP beneficiaries; A wild goose chase? , CBN lists major constraints affecting businesses, as borrowing rates projected to rise, CBN’s N287.8 billion T-bills auction records oversubscription, as rates fall marginally, CBN to give Niger Delta rice farmers single-digit loan , Naira and exchange rates, Insufficient electricity, unfavourable economy are among challenges hindering companies –CBN, Banks: Microfinance banks in Nigeria, REMINDER: Nationwide implementation of cashless policy starts April 1st, RESCUE MISSION: CBN coordinates banks, other financial institutions, to raise N1.5 trillion for infrastructure, Banking: Another wave of consolidation?, CBN pays $4.45 billion external debt obligation to World Bank, others in 2-month

CBN reverses suspension order on dispute management operations, interswitch reacts

Interswitch Group has denied being directed by the Central Bank of Nigeria (CBN) to suspend all dispute management operations.