Tag Archives: Central Bank of Nigeria

Nigeria’s Finance Minister Ngozi Okonjo-Iwealla says the economy is strong

February 28, 2013 by IndepthAfrica

By Ngozi Okonjo-Iwealla Clarifications on the State of the Economy, the Excess Crude Account and Related Issues • In recent times, a number of comments and articles have appeared in the media, which have tended to talk down the performance of … read more »

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Peter Odemwingie and the terrible, horrible, no good, very bad transfer deadline day – Video

February 1, 2013 by IndepthAfrica

Drawn like a moth to the giant neon pound sign that floats above Loftus Road, smiling West Brom striker Peter Odemwingie turned up at QPR’s door three and a half hours before the January transfer window shut. The problem here … read more »

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Reports: Nigerian government to buy 30 aircraft

January 12, 2013 by IndepthAfrica

The Nigerian government plans to buy 30 aircraft for the nation’s domestic carriers to improve efficiency and lower the cost of air travel, according to media reports. The comments were attributed to Yakubu Dati, corporate communications general manager of the … read more »

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Nigeria’s former central bank governor arrested by anti-graft body

January 11, 2013 by IndepthAfrica

Abuja: Nigeria’s anti-graft agency has arrested the country’s former central bank governor Chukwuma Soludo over his alleged role in the banknotes bribery scandal. The Central Bank of Nigeria, the country’s apex financial institution, had printed new currency notes of 20 … read more »

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Press Release: Subsidy Payments – Nigeria Finance Ministry Releases N161 BILLION To CBN

January 9, 2013 by IndepthAfrica

FEDERAL MINISTRY OF FINANCE News Release. January 8, 2013 SUBSIDY PAYMENTS: FINANCE MINISTRY RELEASES N161 BILLION TO CBN The Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala has refuted media reports which allege that the Federal … read more »

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Nigeria: Removing Petroleum Products Subsidy: To Be or Not To Be

December 2, 2012 by IndepthAfrica

As we approach the beginning of a new financial year, Nigerians are again witnessing conflicting signals from the government about whether or not the subsidy on petroleum products will be removed or reduced.  Firstly, the report of the Dr. Kalu-led … read more »

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Nigeria: Plagiarism – Dike’s Suit Against Two UNIPORT Professors For January 15

November 14, 2012 by IndepthAfrica

A Federal High Court (FHC) sitting in Port Harcourt has fixed for January 15, 2013, hearing on the case of alleged of plagiarism instituted against Professors Steve O. Tamuno and Needorn Richard Sorle of the Department of Economics, University of … read more »

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Two Nigeria Ex-Heads of State Battle Jonathan for $180 Million Halliburton Scandal

October 30, 2012 by IndepthAfrica

Abuja — Following the directive by President Goodluck Jonathan that the investigative report into the $180 million Halliburton bribery scandal be re-opened and the major culprits re-arrested, Vanguard gathered that this has resulted in a fall out between two former … read more »

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The Challenge of a Nigerian President

October 5, 2012 by IndepthAfrica

By Ademola Adeyemo,Thisday Except he is a preternatural creature and does the extra-ordinary, an average Nigerian President can hardly impress his people, writes Ademola Adeyemo Having successfully waltzed through the challenges that piled up his ascension to the presidency in … read more »

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I will not interfere or mediate in the ongoing bribery scandal – President

July 4, 2012 by IndepthAfrica

President Goodluck Jonathan has declared that he will not interfere or mediate in the ongoing bribery scandal in the House of Representatives involving Mr. Farouk Lawan and a businessman, Mr. Femi Otedola. The Special Adviser to the President on Media … read more »

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Nigeria $620,000 Bribery Scandal: Phone Conversation between Farouk Lawan & Femi Otedola

July 3, 2012 by IndepthAfrica

Fresh facts have continued to emerge in the $620,000 bribery scandal between the embattled Chairman of the House of Representatives’ ad hoc committee on Fuel Subsidy, Farouk Lawan and the MD/CEO Zenon Oil and Gas, Femi Otedola. The Chairman, House … read more »

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Nigerian-born US Professor, Victor Dike, Sues Two UNIPORT Professors for Plagiarism

June 22, 2012 by IndepthAfrica

With the dust raised by his suit against the Governor of the Central Bank of Nigeria (CBN), Mr. Sanusi Lamido Sanusi, whom he accused of grossly violating his intellectual property rights by extensively plagiarizing his work in two public lectures … read more »

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Nigeria faces economic crisis if oil prices fall —Sanusi

April 15, 2012 by IndepthAfrica

THE Central Bank of Nigeria (CBN) governor, Mallam Lamido Sanusi, has said a sharp fall in oil prices would be a relief for much of the world, but for Nigeria it could spell big trouble. According to the CBN governor, … read more »

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Probe N30bn taken from CBN for 3rd term project, CNPP tells EFCC

April 9, 2012 by IndepthAfrica

ABUJA—The Conference of Nigerian Political Parties, CNPP, yesterday, called on the Economic and Financial Crimes Commission, EFCC, to begin inquiry into the allegation of how N30 billion was withdrawn from the vaults of the Central Bank of Nigeria, CBN, during … read more »

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DIARY: Mallam Sanusi ‘The Governor’ comes to town (again)

March 28, 2012 by IndepthAfrica

By Magnus Taylor Mallam Sanusi – Governor of the Central Bank of Nigeria – looks like Lenin would have done had he been born in Kano. Beautifully turned out in pin-striped suit, red (silk) bow-tie and flashing an expensive looking … read more »

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Fuel subsidy removal is secondary to our serious problem with Boko Haram

January 13, 2012 by IndepthAfrica

Time Up ! The die is cast ..alea iacta est. I hope this is not going to be the classical “Nero Fiddled While Rome Burned”. Is it happening in our beloved Nigeria? I hope not. Priorities don’t get much more … read more »

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Union Bank Nigeria Shareholders to Meet Sept. 30 Over Investor Agreement

September 2, 2011 by benim

Union Bank Nigeria Plc (UBN), a lender bailed out by the central bank in 2009, said shareholders would meet on Sept. 30 to approve an agreement between the bank and its core investor, African Capital Alliance Consortium. Shareholders will also … read more »

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Nigeria’s Mainstreet Bank repays 50 bln naira to cbank

August 10, 2011 by benim

Nigeria’s recently nationalised Mainstreet Bank, formerly Afribank (AFRIBAN.LG), said on Tuesday it had paid the central bank back the 50 billion naira ($327 million) in intervention funding given in a 2009 bailout and the lender was now fully recapitalised. The … read more »

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Nigeria’s SEC suspends trading on nationalised banks

August 7, 2011 by benim

Nigeria’s Securities and Exchange Commission (SEC) on Sunday said it had suspended trading on the shares of Afribank, Spring Bank and Bank PHB, following the nationalization of the three lenders. SEC also approved a technical suspension on the trading of … read more »

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Nigeria again ups main interest rate, to 8.75 pct

July 26, 2011 by benim

Nigeria’s central bank on Tuesday jacked up its main interest rate by 0.75 points to 8.75 percent, the fourth increase in six months in a move aimed at putting a lid on inflation. The bank’s governor, Sanusi Lamido Sanusi, told … read more »

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Excogitative Deconstruction of the Discourse Dynamics of the Controverted Non-Interest Banking and the Islamicizing Controversy Issues

July 11, 2011 by benim

Approbatory and disapprobative voices have trailed the Central Bank of Nigeria’s (CBN) decision to implement Non-Interest Islamic Banking (NIB) in the country, a package, whose initiative, framework, process leading to its formation and approval in principle date back to the … read more »

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Nigeria: Controversy over Islamic banking

July 5, 2011 by benim

Plans to introduce Islamic banking as one of the models of non-interest financial services has touched off intense controversy in religiously divided Nigeria. The Central Bank of Nigeria (CBN) two weeks ago published a final set of regulations on non-interest … read more »

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The Nigerian Way of Dying by Wole Soyinka

April 3, 2011 by benim

As elections get underway in Africa’s most populous nation, there’s both hope and blood. The ongoing Nigerian electioneering perversely calls to mind the title of a work I read decades ago—Jessica Mitford’s The American Way of Death. What she would … read more »

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Nigeria: Ten-year jail term for money launderers

March 2, 2011 by benim

The Senate yesterday passed the Anti-Money Laundering bill, with a recommendation of a maximum jail term of 10 years, but not less than five years, for offenders, in addition to fines that may be applicable. Some financial crimes analysts, however, … read more »

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Nigeria CBN: Only 20 Banks May Remain By June

January 20, 2011 by benim

The Central Bank of Nigeria (CBN) has said that the number of banks in the country may be reduced from 24 to 20 by mid this year, when the industry is expected to have consummated recapitalisation deals. The CBN Deputy … read more »

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Politicians killed Nigerian banks. Says Sanusi

December 13, 2010 by benim

AS the controversy surrounding the statement made by the governor of Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, about the budget of the National Assembly rages on, the CBN governor has declared that politicians in the country, particularly … read more »

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Nigeria is broke, says Atiku

December 9, 2010 by benim

Former vice president and Peoples Democratic Party (PDP) presidential hopeful, Atiku Abubakar said yesterday that unless the federal government’s current policy of ‘uncontrolled spending spree’, the country risks going broke sooner than envisaged. Mr Abubakar, in a statement from his … read more »

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Nigeria: 25% overhead spending: Sanusi refuses to apologise to Senate

December 2, 2010 by benim

CENTRAL Bank of Nigeria (CBN) Governor, Malam Sanusi Lamido Sanusi, yesterday refused to apologise to the upper chamber of the National Assembly over his claim that 25 per cent of the entire Federal Government overheads was going to the National … read more »

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Nigeria: EFCC opposes motion in Akingbola case

November 25, 2010 by benim

The motion by six top management staff of Intercontinental Bank, urging a Federal High Court in Lagos, to strike out the 23-count amended charge against them, was yesterday opposed by the Economic and Financial Crimes Commission (EFCC). The officials, together … read more »

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Nigeria: I never played politics with bomb blasts – President

October 19, 2010 by benim

PRESIDENT Goodluck Jonathan, yesterday, looked back at the October 1, anniversary bombings in Abuja and declared that he never politicized either his statements or his actions since the incident happened. Also, he declared that the gang-up strategies adopted by the … read more »

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