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Tag Archives: CBN

Nigeria’s N105bn Sukuk Bond offer, oversubscribed

Reports has it that the N105 billion seven-year Sukuk offer debuted by the Debt Management Office (DMO), was oversubscribed. The offer which closed last week Friday, attracted investors from across a broad spectrum of the public comprising pension funds, banks, fund managers, institutional and retail investors. Reacting to the pleasant …

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CBN Injects Additional $250m into Forex Market

CBN

The Central Bank of Nigeria (CBN) on Monday continued its intervention in the interbank foreign exchange market to the tune of $250million in three segments of the market. In the wholesale segment of the interbank forex market, it sold $100 million and also uplifted the small and medium enterprises (SMEs) …

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CBN Set To Approve Cryptocurrency And Block Chain Technology

CBN

The Central Bank of Nigeria (CBN) sequel to setting up of an industry committee to look into and articulate a road map for Blockchain & Cryptocurrency regulation has reiterated that it will not hinder the use of digital currencies in Nigeria. The regulator in a recent brief with industry experts …

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BDC Operators Lose Ground To Banks In Forex Sales

CBN

More than 700 Bureaux De Change (BDC) operators are inactive in the Central Bank of Nigeria’s (CBN’s) Forex Window as forex end users embrace commercial banks, The Nation reports. The preference for commercial banks followed the uncompetitive rate regime that shifted the business patronage in favour of the lenders. The …

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CBN backs N15.7b for additional rice mills

Rice Mill

In a bid to reduce foreign exchange spending on food importation through enhanced funding for agriculture, the Central Bank of Nigeria (CBN) has approved funding for additional rice mills in the country. Meanwhile Chief Audu Ogbeh, Minister of Agriculture has said that the federal government may soon stop importation of …

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CBN, Heritage Bank dole out N774m to 310 entrepreneurs

CBN

The Central Bank of Nigeria, CBN, in conjunction with Heritage Bank Plc has commenced the process for the disbursement of N774 million to 310 young entrepreneurs under the Youth Entrepreneurship Development Programme, YEDP, so as to help address the rising unemployment situation in the country, empower the youths and reactivate …

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CBN reveals banks with lowest and highest lending rates

Godwin Emefiele

The Central Bank of Nigeria (CBN) on Wednesday unveiled the list of banks with the lowest and the highest lending rates, and called for transparency in the bank rates. The Monetary Policy Committee (MPC) of the apex bank called on the banks to publish their lending rates once a week …

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