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CENTRAL BANK OF NIGERIA
News and analysis about Central Bank of Nigeria
Despite the rhetoric, majority of Nigerians are still wary of the so called N1 trillion intervention fund.
According to the latest data obtained from the Central Bank of Nigeria (CBN), Nigeria’s foreign exchange reserves now stand at $36.57 billion.
The videos and pictures of the purported circulation of the N2,000 and N5,000 banknotes as false, a piece of fake news that is being pushed out to the members of the public and asked them to disregard the falsehood.
CBN's Godwin Emefiele had recently advised businesses and individuals to stop patronizing operators in the parallel market because they heating up the foreign exchange market.
As Nairametrics previously reported, the apex bank informed Nigerians that it will resume the provision of Forex to all commercial banks in Nigeria for onward sales to SMEs and Nigerian students in foreign schools.
The Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL) Microfinance bank, on behalf of the Central Bank of Nigeria (CBN), has started the disbursement of the N50 billion Targeted Credit Facility (TCF) to the beneficiaries.
According to data from the Central Bank of Nigeria (CBN), about a third of loans by Nigerian banks were given to oil firms.
The contributions are expected to assist the Federal Government of Nigeria in the ongoing fight against the Coronavirus pandemic which has already claimed more than ten lives in the country, including that of Abba Kyari, President Buhari's Chief of Staff.
The post-Covid-19 era is expected to be filled with a lot of uncertainties, CBN has warned of the need for the country to act fast.
As you may well know, the Coronavirus pandemic has come with its devastating impacts on the social/economic lives of people around the world. The CBN is, therefore, putting measures in place to deal with the aftermath of the pandemic.
The modalities of the funding option are still being figured out, as the CBN work with deposit money banks to identify potential/eligible off-takers.
The Nigeria Deposit Insurance Corporation (NDIC) has joined the growing list of corporate organisations and individuals who are donating to the relief fund set up by the Central Bank of Nigeria (CBN) to help the government in the fight against the Coronavirus pandemic.