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CENTRAL BANK OF NIGERIA
News and analysis about Central Bank of Nigeria
First Bank announced yesterday that it had donated the sum of N1 billion to facilitate the fight against the Coronavirus pandemic in Nigeria.
The Federal Government has exempted the banking and financial services sector to offer some skeletal services during the curfew period.
Analysts have predicted the foreign reserves to fall below $30 billion if some measures are not taken.
Warren Buffett bought $5 billion investment in the Bank of America which expanded to $12 billion in 2017, gaining a whopping $7 billion.
Fitch Ratings has downgraded the three-highest rated banks in Nigeria - Zenith, GTB and UBA to Long-Term Issuer Default Rating (IDR) 'B' and Viability Rating (VR) 'b'.
The CBN said that interest rate on its health intervention facility shall revert back to 9% p.a. (all-inclusive) as from 1st March 2021.
Nigerian currency traders are refusing to show rates to sell the U.S. dollar after the CBN vowed to crack down on speculators.
The CBN released the guidelines for the implementation of its N50 billion targeted credit facility for households and SMEs affected by COVID-19.
Manufacturers under the aegis of MAN has called on the Federal Government to assist and support their businesses during this Coronavirus outbreak.
Some staff members of the Central Bank of Nigeria (CBN), have been directed to stay at home amid the spread of the novel Coronavirus.
With an unassuming personality, Godwin Emefiele controls the monetary policies of Nigeria and on his judgment, depends the economic destiny for Nigeria.
According to the PMI data for the month of March, activity level declined drastically as both the Manufacturing and Non-manufacturing PMIs slumped to 51.1 and 49.2 points.