Tag Archives: Central Bank of Nigeria

How CBN Policy Inhibits Cabotage Trade, Local Content Act: Nigeria Loses 1.5 Trillion Naira Annually

How CBN Policy Inhibits Cabotage Trade, Local Content Act : Nigeria Loses 1.5 Trillion Naira Annually

Findings have revealed that the Central Bank of Nigeria (CBN) fiscal policy on petroleum import trade is a major factor inhibiting the success of the twin Federal Government Legislations meant to boast the participation of Nigerians in maritime and offshore …

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‘High Interest Rate, Bane of SMEs Development’

'High Interest Rate, Bane of SMEs Development’

Senator Victor Oyofo last week, described high interest rate charged by commercial banks as the bane of industrial development in Nigeria. Oyofo, who made this disclosure at the official opening of the 9th Abuja international trade fair last week, also …

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Next Day Cheque Clearance Commences

Next Day Cheque Clearance Commences

With effect from September, 4 2014, all clearing cheques in the country will receive value at end of day of the next working day. The new system is an enhancement to the cheque transaction system introduced by the Central Bank …

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ATM Charges: Emefiele’s Pain, Sanusi’s Relief  

ATM Charges: Emefiele’s Pain, Sanusi’s Relief

On September 1, free transaction on Automated Teller Machine (ATM), which bank customers have enjoyed for about two years ended. In spite of the reasons alluded by the Central Bank of Nigeria (CBN), the policy has attracted terse and negative …

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CBN Committed To 80% Financial Inclusion By 2020 – Moghalu

CBN Committed To 80% Financial Inclusion By 2020 – Moghalu

The Deputy Governor (Financial System Stability), Central Bank of Nigeria(CBN), Dr. Kingsley Moghalu last week restated the central bank’s commitment to meeting the target of attaining 80 per cent financial inclusion among the country’s adult population by 2020. Moghalu made …

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87% Of Debtors Blacklisted By CBN, Unable To Pay Loans Two Years After

87% Of Debtors Blacklisted By CBN, Unable To Pay Loans Two Years After

Only about 10 to 15 of the 113 bad debtors (companies) that the Central Bank of Nigeria (CBN) barred from further borrowings from banks two years ago have been able to repay their loans taken over by the Asset Management …

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CBN Gives Forex Conditions To Foreign Shipping Firms: Shippers’ Council To Monitor Repatriation Of Funds

CBN Unveils Collateral Registry Regulations To Enhance Access To Credit

To attain its goal of exchange rate stability in the economy, the Central Bank of Nigeria (CBN) has handed down some monetary policy measures to operators in the maritime industry. Under these measures, the Nigerian Shippers’ Council (NSC) has further …

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