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Farooq

Posts Tagged "cbn" (Page 67)

HomePosts Tagged "cbn" (Page 67)

By Felix Onuah and David Lawder ABUJA/WASHINGTON (Reuters) – Nigeria’s central bank denied a report that it planned to devalue the naira, while the International Monetary Fund (IMF) reiterated that Nigeria would benefit from a more flexible exchange rate but said no request for funds had been made. Talk of a devaluation has been rife […]

LAGOS, May 10 (Reuters) – Nigeria’s central bank (CBN) and law enforcement agencies have launched an investigation into various banking deals after allegations of illegal transactions, it said on Tuesday, and authorities are questioning top executives at several banks. President Muhammadu Buhari took office a year ago after campaigning on an anti-corruption ticket, and a […]

  • CBN

Oyetunji Abioye and Ifeanyi Onuba The Central Bank of Nigeria said on Monday that it was carrying out special investigations into the roles played by banks in certain financial transactions, especially the N23bn reportedly shared to officials of the Independent National Electoral Commission by officials of the former President Goodluck Jonathan administration to influence the […]

  • CBN

Oyetunji Abioye The nation’s overnight interbank rate has risen marginally to an average of 3.5 per cent from three per cent week-on-week, data from the FMDQ website have shown. The development followed the decline in banking system liquidity after the Central Bank of Nigeria debited banks in line with the Cash Reserves Ratio, Reuters reported […]

By Obinna Chima The Central Bank of Nigeria (CBN) sold a total of $136,038,458.17 to 13 commercial banks, three merchant banks and the Bank of Industry (BoI) between March 3 and 6, 2016. This is just as the country’s foreign exchange reserves plummeted further to $26.919 billion last Thursday. Returns on forex utilisation published by […]