CBN/Commercial Banking - Abia ThinkTank News

Oct

25

2023

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By Abia ThinkTank

Nigeria Bleeds As The Naira Hits Lowest In All Markets After FG’s Promise To Crash The Dollar.

Business, CBN/Commercial Banking, Economy

"No More N1,210/$:" Naira Hits Lowest in All Markets After FG's Promise to Crash The Dollar The Naira plummeted to its lowest in history on Tuesday, October 24, 2023, trading at N1,310 per dollar on the black market It also crashed in the official NAFEM market, trading at N847.77 per dollar as Nigeria says it expects a $10 billion inflow. Analysts predict that the Naira may hit N2,000 before Christmas as Nigeria continues to battle Forex crunch. Naira again made history on Tuesday, October 24, 2023, when it hit its lowest on the streets against the US dollar, where it…

Oct

17

2023

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By Abia ThinkTank

Just-In: President Tinubu Launches Conditional Cash Transfer Scheme For 15 Million Households

Abuja, CBN/Commercial Banking, Presidency

Just-In: Tinubu Launches Conditional Cash Transfer Scheme For 15 Million Households President Bola Tinubu on Tuesday, 17th of October, 2023 launched the Conditional Cash Transfer Programme for 15 million households, GMATE MEDIA reports. The President represented by the Secretary to the Government of the Federation, George Akume, launched the programme at an event held at the Press Gallery of the State House in Abuja. It would be recalled that the President had in his maiden Independence Day broadcast to Nigerians on October 1, 2023, announced the cash transfer programme which he said would target vulnerable citizens. In attendance at the…

Oct

06

2023

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By Abia ThinkTank

We Can’t Be Intimidated. Allegations Against Us Are Baseless – Ajaero Blows Hot

CBN/Commercial Banking, Labour, News Flash

Ajaero blows hot after police questioning, says allegations are baseless, NLC won’t be intimidated The President of the Nigeria Labour Congress, Joe Ajaero, has declared that the union will not be intimidated by external pressures, following his appearance at the Intelligence Response Team headquarters in Abuja on Thursday. Ajaero, who was invited by the police to address allegations of terrorism financing, cybercrime, subversion, criminal conspiracy, and treasonable felony, arrived at the IRT office at 10:17 a.m. and left shortly after 11:15 a.m. “We can’t be intimidated,” Ajaero stated emphatically. “The allegations against us are baseless, and we have nothing to…

Sep

23

2023

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By Abia ThinkTank

CBN: Why Cardoso Must Win War Against Dollar, Strengthen The Naira Against Dollar To Prove His Mettle – Barr. Oladotun Hassan

Abuja, CBN/Commercial Banking, Economy

CBN: Why Cardoso Must Win War Against Dollar, Strengthen the Naira against Dollar To Prove His Mettle. The newly appointed governor of the Central Bank of Nigeria, Olayemi Michael Cardoso, has been told he is in for a serious task In an exclusive interview with Legit.ng Oladotun Hassan, a legal practitioner and public affairs analyst, said Cardoso must win the war against the dollar. He stated that Cardoso's role is way beyond just an appointment, but it is a task he must take personally to prove a point that the Naira can be valuable. As Nigerians watch Olayemi Michael Cardoso…

Sep

22

2023

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By Abia ThinkTank

Currency Now In Circulation Is Over N2 Trillion As New CBN Governor, Olayemi Cardoso Assumes Duty Friday, September, 2022.

Economy, CBN/Commercial Banking

Currency now in Circulation is over N2 Trillion as New CBN Governor, Olayemi Cardoso Assumes Duty Friday, September 22, The currency in circulation in Nigeria has risen to N2.7 trillion as of the end of August 2023. The Central Bank of Nigeria said the amount increased by N1.7 trillion monthly. The currency in circulation hit an all-time low of N982 billion in February 2023. Currency in circulation in Nigeria spiked by N1.7 trillion following increased cash transactions. Data from the Central Bank of Nigeria as of Thursday, September 21, 2023, shows that the currency in circulation hit about N2.7 trillion…