CBN/Commercial Banking

Nov
28
2023
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By Abia ThinkTank
Former NIRSAL Boss Arrested Over N5.6bn Wheat Project Scam

Former NIRSAL Boss Arrested Over N5.6bn Wheat Project Scam

CBN/Commercial Banking, Crime, News Flash
Former NIRSAL Boss Arrested Over N5.6bn Wheat Project Scam Almost a year after he was sacked as the Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdlhameed, has been arrested for allegedly N5.6bn Wheat Project Scam. NIRSAL, a $500m non-bank financial institution, is a creation of the Central Bank of Nigeria (CBN) mandated to manage agribusiness-related credit risks in Nigeria. Abdulhameed was kicked out of office following allegations of corruption, including a 2018 N5.6 billion wheat project meant for farmers in Kano and Jigawa States. His sack was endorsed by the Board of the…
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Nov
27
2023
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By Abia ThinkTank
Emefiele Pumped N10tn Into Economy Through Quasi-Fiscal Activities – Cardoso

Emefiele Pumped N10tn Into Economy Through Quasi-Fiscal Activities – Cardoso

CBN/Commercial Banking, Economy, News Flash
Emefiele pumped N10tn into economy through quasi-fiscal activities – Cardoso The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that the apex bank will be asking Deposit Money Banks to increase their capital base in order to service the $1tn economy projected by President Bola Tinubu. This is as he noted that he knew that there was much work to be done in the way the apex bank ran its operations, adding that he would need the collaboration of all stakeholders. CBN Governor, Yemi CardosoSpeaking on Friday at the 58th Annual Dinner of the Chartered Institute…
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Nov
27
2023
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By Abia ThinkTank
The Student’s Loan Scheme Will Be Open To All Nigerian Students By January, 2024 – Presidency

The Student’s Loan Scheme Will Be Open To All Nigerian Students By January, 2024 – Presidency

CBN/Commercial Banking, News Flash, Presidency
💥BOOM The Student's Loan Scheme By The President Tinubu's Administration Will Be Open To All Nigerian Students When It Commences In January 2024 . ●No More Slots For Politicians , A Digital Portal Would Be Launched And It Would Be Accessible By Nigerian Students. ●Nobody Will Need To Know Anybody To Qualify For These Loans So That Access To This Financing Will Be Genuinely Egalitarian Says CoS Femi Gbajabiamila. SPECIAL ADVERT PROMO FOR 2023 IGBA-OTOMU, IGBA-UCHE, IGBA-EKPE, IZU-UCHE, IGBOTONMA AND IZA-AFA This is a special promo designed for our brothers, sisters, mothers, fathers etc who are involved in the above…
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Nov
14
2023
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By Abia ThinkTank
President Tinubu Will Shock Currency Speculators – Dr Tope Fasua, Special Adviser To The President On Economic Matters

President Tinubu Will Shock Currency Speculators – Dr Tope Fasua, Special Adviser To The President On Economic Matters

Abuja, CBN/Commercial Banking, Economy, News Flash
Special Adviser to the President on Economic Matters, Dr Tope Fasua, said that President Tinubu Will Shock Currency Speculators. He cautioned Nigerians who are hoarding foreign currencies with the hope that the local currency would continue to fall, warning that the policies of the government would shock them. Fasua who represented the Vice President, Kashim Shettima, at the event said: “For those who are speculating and praying and wishing that the currency would become nonsense, I believe that the policies are being rolled out by the central bank and the government that I serve, led by the President, will shock…
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Nov
14
2023
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By Abia ThinkTank
President Tinubu Meets Islamic Development Bank Management, Negotiates Multi-Billion Dollar Funding Package For Infrastructure

President Tinubu Meets Islamic Development Bank Management, Negotiates Multi-Billion Dollar Funding Package For Infrastructure

CBN/Commercial Banking, Economy, FGN, News Flash
President Tinubu Negotiates Multi-Billion Dollar Funding From Islamic Development Bank President Bola Tinubu has secured a multi-billion dollar infrastructure funding package from the Islamic Development Bank (IDB) to fund a multi-sectoral portfolio of infrastructure projects at the federal and sub-national levels in Nigeria. This was disclosed in a statement by presidential spokesperson Ajuri Ngelale on Tuesday. The development was the outcome of substantive investment discussions held between President Tinubu and the Vice-President (Country Programs) of the IDB, Dr. Mansur Muhtar, in Mecca, Saudi Arabia, on Monday night, the statement revealed. See the press release below:PRESIDENT TINUBU MEETS ISLAMIC DEVELOPMENT BANK…
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Nov
11
2023
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By Abia ThinkTank
Just-In: Dangote Set To Refund $4.89B To CBN

Just-In: Dangote Set To Refund $4.89B To CBN

Business, CBN/Commercial Banking, Economy, News Flash
BREAKING NEWS Dangote set to refund $4.89B to CBN.The expected rapidly appreciating Naira is set to gain more value as the Chairman and CEO of Dangote Refinery is set to refund $4.89B out of the laundered FX during Emiefele's regime as the CBN Governor.A total of over $12B was set to have been laundered by the world's richest black man during this period.FX speculators are set for a surprise decline in dollars to Naira exchange over the next few days as a result of this refund. Similarly, the lien on the $11B of the federal reserve has been lifted on…
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Nov
10
2023
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By Abia ThinkTank
CBN Issues Fresh Directive On Old And New Naira Notes

CBN Issues Fresh Directive On Old And New Naira Notes

CBN/Commercial Banking, Economy, News Flash
CBN Issues Fresh Directive on Old and New Naira Notes The Central Bank of Nigeria (CBN) has instructed its branches nationwide to continue issuing both old and redesigned naira notes in ample quantities to deposit money banks. The directive comes on the heels of reports of cash scarcity in major cities despite earlier assurances from the CBN about sufficient cash availability. The CBN, in a statement signed by its Director, Corporate Communications, Isa AbdulMumin, has reiterated that all naira notes issued by the bank remain legal tender and should not be rejected by anyone. “We wish to state unambiguously that…
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Nov
09
2023
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By Abia ThinkTank
Abuja High Court Grants Bail To The Detained Governor Of The Central Bank Of Nigeria

Abuja High Court Grants Bail To The Detained Governor Of The Central Bank Of Nigeria

CBN/Commercial Banking, Crime, News Flash
An Abuja High Court sitting at Maitama on Wednesday granted bail to the detained Governor of the Central Bank of Nigeria Godwin Emefiele. The court, in a ruling by Justice Olukayode Adeniyi, ordered that he should be released to his lawyers. “There must be an end to detention without trial,” the judge held, stressing that it was the refusal of the Economic and Financial and Crimes Commission, EFCC, to comply with the order the court made on November 2, that led to the ruling. Besides, the court held that it could not allow Emefiele to remain in custody owing to…
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Nov
07
2023
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By Abia ThinkTank
OPay Named Winner Of Fintech Award In The Just Concluded Digital Nigeria 2023 Dinner.

OPay Named Winner Of Fintech Award In The Just Concluded Digital Nigeria 2023 Dinner.

Business, CBN/Commercial Banking, Information Technology
OPay Dear valued customers and stakeholders We have wonderful news! OPay has been named winner of the Fintech Award in the just concluded Digital Nigeria 2023 Dinner, organised by the National Information Technology Development Agency (NITDA). The National Information Technology Development Agency (NITDA) is a government agency with the mandate to create a framework for the planning, research, development, standardization, application, coordination, monitoring, evaluation, and regulation of Information Technology practices in Nigeria. Management wish to sincerely appreciate our esteemed customers who support and trust us for their financial needs. Our mission to make financial services more inclusive through technology remains…
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Nov
07
2023
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By Abia ThinkTank
Former CBN Governor Lamido Sanusi Urge The Current CBN Governor To Tackle Increasing Inflation Rate.

Former CBN Governor Lamido Sanusi Urge The Current CBN Governor To Tackle Increasing Inflation Rate.

CBN/Commercial Banking, Economy
Former CBN governor Lamido Sanusi has sent an important message to the Governor of CBN, Yemi Cardoso. He is calling on the apex bank to find a solution to the rising inflation rate, which is now at over 17year-high. The message from Sanusi was well received by Cardoso, and he replied with promises and provided his action plans Lamido Sanusi, the former Governor of the Central Bank of Nigeria (CBN), has urged the current CBN Governor, Olayemi Cardoso, to tackle the increasing inflation. Sanusi gave this advice when he visited the CBN headquarters in the company of Ibukun Awosika, Chairperson…
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