Thursday, January 28

Tag: CBN

Wife of CBN Governor Godwin Emefiele Reportedly Kidnapped
News

Wife of CBN Governor Godwin Emefiele Reportedly Kidnapped

Wife of the governor of the Central Bank of Nigeria CBN, Godwin Emefiele, has been reportedly kidnapped. According to Sahara Reporters, Mrs. Margaret Emefiele was kidnapped along the Benin-Agbor Road yesterday September 29th. The kidnappers have contacted her husband and are demanding a huge ransom.
Dino Melaye Seeks Sack of Udoma, Adeosun, Emefiele
News

Dino Melaye Seeks Sack of Udoma, Adeosun, Emefiele

Deeply worried by the poor state of the economy which has brought unprecedented hardship and hunger on the masses of the Nigerian people, a federal lawmaker, Senator Dino Melaye (APC Kogi West) has called on President Muhammadu Buhari to take urgent and drastic measures, including the immediate sack of three prominent members of his Economic Team as the solution-precedent to reboot the ailing economy. In a Statement in Abuja Sunday, Melaye said the President must shake up his Cabinet, and accused most of the members of gross incompetence, inexcusable ineptitude and a distressing lack of capacity to deliver on the mandate of their ministries/Agencies. Those to face the axe immediately if the economy must be effectively rebooted to deliver on the Change Agenda of the present administra...
CBN Ban 9 Banks From FX Market For Aiding NNPC’s TSA Breach
News

CBN Ban 9 Banks From FX Market For Aiding NNPC’s TSA Breach

Nine Deposit Money Banks (DMBs) have been banned by the Central Bank of Nigeria (CBN) from the foreign exchange market, for hiding over $2 billion belonging to Nigerian National Petroleum Corporation (NNPC) from the Treasury Single Account (TSA). President Muhammadu Buhari has been briefed on the breach by the banks, and they have all been mandated to move the monies to the treasury single account.
IMF Lauds CBN Forex Policy as Naira Appreciates
News

IMF Lauds CBN Forex Policy as Naira Appreciates

The local currency gained N12, rising from 367 to 355 against the United States dollar at the parallel market on Thursday, a day after the Central Bank of Nigeria released the much-awaited foreign exchange market framework. Forex dealers and analysts said the naira-dollar exchange rate, which closed flat at 367 on Wednesday, started reacting to the new policy following a rise in the supply of the greenback at the parallel market on Thursday. The International Monetary Fund on Thursday said it welcomed the decision by the CBN to abandon its currency peg and adopt a flexible exchange rate policy, saying this was important to reduce fiscal and external imbalances. The CBN had said on Wednesday that a market-driven foreign exchange market would commence on Monday, in the process aba...
CBN Adopts Flexible Exchange Rate Policy
News

CBN Adopts Flexible Exchange Rate Policy

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has adopted a flexible exchange rate policy for the country. The CBN Governor, Godwin Emefiele, disclosed this on Tuesday in Abuja while addressing newsmen on the outcome of the two-day meeting of the MPC. He said with the directive, the apex bank would soon release a new guideline on the management of foreign exchange in the country. Emefiele said that when finally released, the apex bank would retain a small window for critical transactions. He cited the critical transactions as the importation of vital machinery for production and basic raw materials critical for manufacturing which by their nature could not be sourced locally. The News Agency of Nigeria (NAN) reports that CBN had been under pressure over the...
Fani-Kayode Used His Girlfriends To Launder Money 
News

Fani-Kayode Used His Girlfriends To Launder Money 

An EFCC insider has just revealed to SR that Femi Fani-Kayode was shocked when the anti-corruption agency's investigators opened their books and showed him practical money trails of how he used his wife, girlfriends and others to launder the money. A source say the reason the lady who gave birth to Fani-Kayode's son moved out of his big house in Abuja as soon as he was arrested is not unconnected to this; she's one of those he used to move money. The source added that EFCC will get everyone involved, both 'wife' and girlfriends.