CBN Archives - Page 16 of 21 - Voice of Liberty NG

CBN should abolish official exchange rate � BDC operators

August 1, 2022August 1, 2022 Aminu Imam

The Central Bank of Nigeria (CBN) should float the naira to halt its further depreciation, the President of the Association of Bureaux Des Change (BDC) Operators of Nigeria (ABCON), Aminu Gwadabe, has warned. Gwadabe, who made the appeal at the weekend in an interview with newsmen in Lagos, said the CBN should do all within its powers to undertake a sustained injection of the US dollar in the market in order to reverse the loss in the value of the naira at the parallel market. The Naira has been on…

“Avoid speculators; we’re working to avert Naira�s further fall against dollar” – CBN urges public��

July 30, 2022July 30, 2022 Aminu Imam

With an escalating demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has assured that it would continue to make deliberate efforts in the foreign exchange sector to avert a further downward slide in the value of the naira, which it said was fuelled by speculative tendencies. The CBN�s Director, Corporate Communications, Osita Nwanisobi, yesterday, advised the public to resist the urge of succumbing to the speculative activities of some players in the foreign exchange market. Reiterating an earlier position of the…

2023: We will not deploy to insecurity prone areas – INEC Awaits Supreme Court judgment on CBN Gov. to take a stand

May 22, 2022May 22, 2022 Abdul-Azeez Ahmed Kadir

Muhammed Haruna, a veteran journalist is a National Commissioner of the Independent National Electoral Commission (INEC) representing the North Central. In this interview with Voice of Liberty� Abdull-Azeez ahmed Kadir, Haruna speaks about the Continues Voters Registration (CVR), insecurity and 2023 polls, monitoring of campaign funds by political parties, the stand of the commission with regards to CBN Governor�s decision to go to court to decide his fate on 2023 presidency. Voice of Liberty: Let�s start with the issues of Continues Voters registration. How far has the Commission gone? Haruna:…

CBN clears air on withdrawal of Naira notes from circulation

May 22, 2022May 22, 2022 Aminu Imam

The Central Bank of Nigeria, (CBN), has said that there was no plan to replace the Naira notes in circulation with the eNaira, the digital currency, in the foreseeable future. The Director, Corporate Communications Department of the apex bank, Osita Nwanisobi, at the weekend disowned the report that the Bank intends to replace the Naira notes with eNaira in due course. He said that the statement purportedly to have been made during a stakeholders� engagement on eNaira adoption in Asaba, Delta State was misconstrued, and therefore called on the general…

Farmers not repaying loans; believe it�s �national cake� – CBN laments

May 20, 2022May 20, 2022 Aminu Imam

The Central Bank of Nigeria, (CBN), has lamented that farmers refuse to pay back the loans obtained under the Anchor Borrowers� Programme (ABP), believing it�s ‘national cake’. A spokesperson for CBN, Sadeeq Ajayi, said, �Many of the farmers refused to pay back their loans due to misconception that since CBN is the lender, the loan is a �national cake� and they do not have to pay back what they consider theirs as citizens�. Ajayi said their refusal to pay back the loans has made it difficult for others to access…

CBN unveils 21 maize pyramids In Kaduna

March 27, 2022March 27, 2022 Aminu Imam

In line with President Buhari’s administration’s vision of producing what we consume and reducing import bills, the Central Bank of Nigeria, (CBN) has unveiled 21 maize pyramids in Kaduna State. According to the CBN, it will boost maize production towards promoting food security and self-sufficiency, saying, �As of February 2022, it has under its Anchor Borrowers� Programme, disbursed about N948 billion to 4,478,381 smallholder farmers, who cultivated 5.2 million hectares of farmland across Nigeria, creating 12.5m direct and indirect jobs�. Speaking at the unveiling yesterday, the CBN Governor, Godwin Emefiele,…

Nigeria�s external debt service rises 37% to $2.1bn – Report

March 16, 2022March 16, 2022 Aminu Imam

The Federal Government spent $2.12 billion to service the country’s external debt in 2021, representing a 37 percent increase from $1.56 billion spent in 2020. Data from the Central Bank of Nigeria, (CBN), however, shows a 58% decline in debt service payment in the second half of the year (H2�21), to $824.41 million, from $1.3 billion in the first half of the year (H1�21). However, the $824.41m external debt service payment in H2�21 represents a 3.4%, year-on-year, (YoY) increase from $797.48 million spent in the corresponding period of 2020 (H2�2020).…

CBN N50bn Covid-19 loan: Nigerians react to NIRSAL�s call for repayment

February 14, 2022February 14, 2022 Aminu Imam

�400,000 people benefit from scheme The management of NIRSAL Microfinance Bank has requested for the payback of Covid-19 loans secured by many entrepreneurs across Nigeria through the Central Bank of Nigeria�s, (CBN) Targeted Credit Facility, (TCF). This call was made by the financial institution recently, via its Twitter handle. Nigerians on the platform have been having a complex discussion about the repayment of NIRSAL loans with some admitting that they do not have the means to pay back the loans. Following NIRSAL�s tweet request for the repayment of the loans,…

CBN reduces charges on PoS, Credit, Debit cards

January 28, 2022January 28, 2022 Aminu Imam

The Central Bank Of Nigeria, (CBN) has announced a downward review of charges applicable to merchant payments � transactions through Point of Sale, (POS), Automated Teller Machine, (ATM), Debit and Credit Cards. This comes as the country�s apex bank has introduced a new cashless policy � which stipulates new charges on cash transactions in excess of N500,000 and N3,000,000 for individual and corporate accounts respectively. In a memo sent to all Banks processor/Switches, on 18 September, the CBN stated a downward review from 0.75% capped at N1,200 to 0.50% capped…

‘Food prices will soon crash’ – Buhari assures

January 19, 2022January 19, 2022 Aminu Imam

President Muhammadu Buhari Tuesday in Abuja urged Nigerians to exercise some patience as the growing food production in the country, especially expansion in rice farming, will eventually bring down prices of food, making it more affordable for all. The President, who spoke at the official commissioning ceremony of Central Bank of Nigeria (CBN)/Rice Farmers Association of Nigeria (RIFAN) Rice Paddy Pyramids at the Abuja International Trade Fair Complex. According to a statement by presidential spokesman, Femi Adesina, the President said more than 4.8 million smallholder farmers had been supported by…