CBN
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Osun: Court Restrains CBN, Accountant General, AGF, Finance Minister, from Opening LG Accounts for Sacked Yes/No Council Chairmen
A Federal High Court sitting in Osogbo has issued an order restraining the Accountant-General of the Federation, the Central Bank of Nigeria, Attorney General of the Federation & Minister of Finance from opening LG Accounts for Sacked Yes/No Council Chairmen. The Court further ordered that status quo should remain which implies that no account should […]
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Osun Government Rejects CBN Report on Dr Wale Boluwaduro
The Osun state government has rejected the position of the Central Bank of Nigeria on its nominee for the directorship of Living Trust Mortgage Bank, urging the apex bank to review its position in the interest of due process, compliance with regulatory acts and shareholder interest. The state government posited that as a major shareholder […]
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Again, CBN increases interest rate
By Olamilekan Adigun The Central Bank of Nigeria has again increased the benchmark lending rate to 27.25 per cent The Monetary Policy Committee of CBN agrees on the increase during a meeting in Abuja. The committee also retains asymmetric corridor to +500 and -100, raised cash reserve ratio from 45 per cent to 50 per […]
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Fuel Scarcity: NNPC admits to $6bn debt
By Olamilekan Adigun The Nigerian National Petroleum Company Limited has finally admitted that it was facing challenges due to a $6bn debt. This, the medium gathered may worsen the current scarcity of premium motor spirit, popularly known as petrol. After weeks of denial, the NNPC admitted on Sunday that it owed its petrol suppliers the […]
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Sacked CBN Workers Head to Court
By Olamilekan Adigun More than 100 former employees of the Central Bank of Nigeria, (CBN), have filed lawsuits against the apex bank at the National Industrial Court (NIC), seeking compensation and general damages. It would be recalled that CBN in May, announced the mass layoffs of gge staff. The apex bank noted that the move […]