No fraud in Bayelsa N3bn Agric Loan, says CBN

The Central Bank of Nigeria (CBN) has said its Accelerated Agricultural Development Scheme (AADS) is on course in Bayelsa State and that allegations bordering on fraud in the programme were untrue. The apex bank made the clarification during a courtesy visit of its Yenagoa Branch Controller, Mr. Francis Ene-Asuquo, and his team to Governor Douye […]

Aggrieved Youths Set for Second Wave Uprising in Lagos, Abuja As CBN Freezes EndSARS Protesters Accounts

An avoidable second wave of national protest is looming as aggrieved Nigerian youths are threatening to take to the streets again on Monday, November 9, in some parts of Lagos, the country’s commercial capital and Abuja, the Federal Capital Territory. This is coming following a court order granting the Central Bank of Nigeria, the right […]

In Nigeria, Maize Farmers Target 25 Million Metric Tons Production

Maize farmers in Nigeria are gearing to produce 25 million metric tons of the cereal this planting season. But this production target is eight million tons less what the country produced in 2017. Nigeria is the largest African producer of the cereal with over 33 million tons, followed by South Africa, Egypt, and Ethiopia. However, […]

Covid-19: Counting the Cost

The advent of coronavirus in the global space since last year has in many ways affected both health and economic sectors, leading to uncertainties of when and how it would be contained.  So far, in Nigeria, the very obvious impact has been huge, especially about government finances, capital flow reversals and loss of income to […]

CBN warns of increased cyber attacks, fraud, due to COVID-19 pandemic

The Central Bank of Nigeria has warned Nigerians of a global trend where cybercriminals take advantage of the COVID-19 pandemic to defraud people. A press release issued on Monday by the Director, Corporate Communications, CBN, Isaac Okorafor said the trend is not peculiar to Nigeria alone as there has been a rise in COVID-19-related cyber- […]

Nigeria: Good News From Coronavirus, CBN Grants One Year Holiday On Intervention Funds

Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, says the bank from March 1, has granted a one-year moratorium on all of its intervention funds. Emefiele pointed out that the policy measures are to tackle the impact of coronavirus on the businesses and the country’s economy. The apex bank through the Deposit Money Banks has […]

Collapsing Oil Prices: Peterside Faults CBN’s Policies, Shuns Apex Bank’s Forum Over Sanusi

Founder of Stanbic IBTC Holdings Plc, Atedo Peterside, has faulted some of the policy measures of the Central Bank of Nigeria (CBN) in the wake of crashing oil prices. He will also be shunning the apex bank’s forum in protest of Muhammadu Sanusi’s ordeal in the hands of the Kano State Government. Peterside says the […]

Consumers War Erupts In Nigeria Over Electricity Tariffs Hike

Electricity consumer groups in Nigeria are literally up in arms against the authorities over the disturbing tariff increase for end-user customers amid epileptic power supply. Consumers were jolted at the weekend with news reports that tariff was going up across the country. Reports said the 11 electricity Distribution Companies (DisCos) have the mandate of the […]

CBN, FIRS, others under fire for defaulting in accounts

The Central Bank of Nigeria, the Federal Inland Revenue Service, and others defaulting to submit their statements of income and expenditure  accounts spanning from 2017- 2019 have come under fire as the Senate on Wednesday issued them a 7-day ultimatum to do so or face dire consequences. Other agencies are the Federal Airport Authority, Asset Management […]

President Buhari appoints Sarah Alade Special Adviser On Finance and Economy 

President Muhammadu Buhari has approved the appointment of Dr (Mrs) Sarah Omotunde Alade, as Special Adviser to the President on Finance and the Economy, domiciled in the Ministry of Finance, Budget and National Planning. Dr. Alade, who holds BSc (Economics) and PhD in Management Science (Operations Research), retired from the Central Bank of Nigeria (CBN) […]