By Joke Kujenya MONEY SUPPLY in Nigeria saw a slight decrease, falling to N92.3 trillion in March 2024 from N93.9 trillion in February. This shift, reported by the Central Bank of Nigeria (CBN), is largely attributed to the apex bank’s decision to increase interest rates. The rise in interest rates appears to have influenced depositor [&...
By Joke Kujenya THE GOVERNOR of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has indicated the institution’s commitment to maintaining high interest rates until inflation recedes, relying on orthodox policies to achieve this goal. In an interview with the Financial Times, Cardoso, who chairs the Monetary Policy Committee (MPC), em...
By David Adenekan TO START WITH, the new directive by the Central Bank of Nigeria that all Point of Sale (POS) outlets/holders must, on or before July 7th, 2024 be registered and incorporated as a business enterprise with the Corporate Affairs Commission (CAC) is a welcome development. A great initiative indeed! According to the Central [&hell...
By Joke Kujenya THE HOUSE of Representatives, in a decisive move, under the leadership of Tajudeen Abbas, has directed the Central Bank of Nigeria (CBN) to cease the implementation of the cybercrime levy with immediate effect. This directive, issued on Thursday, comes in response to concerns raised regarding the compatibility of the CBN’...
By Helen Okechukwu, JKNMedia Reporter FOLLOWING proceedings at the Ikeja High Court, former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and his co-defendant, Harry Omoile, have been ordered into custody after facing charges of alleged involvement in a $4.5billion and N2.8billion fraud case. The court decision was disclosed by the ...
By Ajibola Olaide, JKNMedia Reporter CONTINUING with its restructuring efforts, the Central Bank of Nigeria (CBN), has dismissed 40 staff members, primarily from the Development Finance Department (DFD), in a move that brings the total number of affected employees to 67. This decision, spearheaded by the CBN Governor Yemi Cardoso, is part of t...
