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CBN
"Therefore, the deadline for submission has been extended by three months. For the avoidance of doubt, all Other Financial Institutions are required to submit the 2019 Audited Financial Statements on or before July 31, 2020."
CBN is releasing cheap funds to strategic sectors of the economy to hopefully restart the economy and possibly save the Nation from looming recession.
Reports from the Addendum to the 2020-2022 MTEF/FSP reveal that the revised fiscal deficit is estimated at N4.58 trillion from N1.85 trillion
Critical technology intervention such as CICOD Lyte would help businesses to thrive and scale above the hurdles of inefficiency, leakages and poor service delivery.
However, halting dividend payments may not go down well for many retail and institutional investors, who rely on bank dividends for regular income.
Note that Nigeria's inflation could potentially rise to 14% by the end of the year due to a higher VAT and a weakened naira.
CBN will be reducing interest rates on its facilities through participating financial institutions from 9% to 5% per annum for a year.
It is obvious that the CBN has come to realize that BDC operators can be the difference between naira recovery and depreciation during volatile times.
It should be noted that Nigeria’s external reserves went on a downward slide last year, having lost $11.75 billion within a space of 10 months.
Banks and other financial institutions posted a 24% GDP Growth Rate for the First Quarter of 2020.
MPC meeting was shifted due to the public holidays the Federal Government declared, which coincide with the old dates chosen for the meeting.
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has warned firms and individuals against patronizing the parallel market, popularly called the black market.