Tags: CBN

CBN introduces new policy to protect stakeholders on bills payments 

The Central Bank of Nigeria (CBN) in order to make life better for investors as it is regards to bills payments by the investors, has introduced regulatory guidelines aimed at protecting stakeholders in the system. Among other things, the regulation mandates billers and payment service providers to provide customer support services by creating help desks…

CBN To Tackle Inflation with Lower Naira Denominations

Bamidele Famoofo reports that the attempt by the Central Bank of Nigeria to flood markets with lower denominations of the naira would boost the country’s effort to decelerate inflation The decision of the Central Bank of Nigeria to pump lower denominations of the country’s currency into circulation, especially in market places, beginning from Abuja, is…

PMI figures in February decline by 1.0 to close at 56.3 index point from 57.3 index point in January

…… Nigeria gas reserves up by 4.067tcf The Central Bank of Nigeria’s Manufacturing Purchasing Managers’ Index (PMI) in February stood at 56.3 index points, according to the CBN’s PMI survey report on Wednesday. The CBN reports stated that the 56.3 index points indicated expansion in the manufacturing sector for the 11th consecutive months. Amehnews recall that…

Fall out of CBN’s Circular on Retained Earnings, Dividend Payout by Banks  

The central Bank of Nigeria, CBN said in its recent amended circular that globally, retained earnings have been identified as an important source of growing an institution’s capital. The circular which was signed by Ahmad Abdullahi, Director, Banking supervision department in the central bank contained some advantages of retained earnings include: being a source of…

CBN targets financial inclusion to reach 20 per cent from 46.3 percent by 2020

  Financial inclusion means that individuals and businesses have access to useful and affordable information about financial products or services that meet their needs in term of transactions, payments, savings, credit and insurance that delivered in a responsible and sustainable way   If Central Bank of Nigeria (CBN)’s financial inclusion vision is aiming at enabling the Nigerian…

CBN injects $297m into forex market as External Reserves hits $31.6bn in 39-month high

The Central Bank of Nigeria CBN yesterday deepens forex market with $297 million in other for the Retail Secondary Market Intervention Sales (SMIS) segment of the forex market raising the total intervention for the week to $547 million.   Confirming the figures, the CBN spokesman, Isaac Okorafor, disclosed that the bank was resolute in its…