The Central Bank of Nigeria (CBN) has reaffirmed its commitment to maintaining a transparent and resilient financial system by reinforcing regulatory compliance and risk management across Nigerian financial institutions. Ms Shola Phillips, Special Adviser to the CBN Governor on Compliance was quoted to have said this in a statement on Sunday. Phillips spoke at a…
The Naira appreciated further at the official market on Monday, trading at N1,497.11 against the Dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira gained N3.62. This marks a 0.24 per cent increase compared to Friday, Feb. 21, when the local currency closed at N1,500.73 to the Dollar. The Naira…
An Economic and Financial Crimes Commission (EFCC) witness, , Salawu Gana on Monday, told an Abuja High Court that the contract awards for vehicles purchased by the Central Bank of Nigeria (CBN) passed due process of procurement laws. Gana, who testified as the 10th witness (PW 10) admitted that quotations for supply of the vehicles…
The Central Bank of Nigeria (CBN) has announced the introduction of the Electronic Foreign Exchange Matching System (EFEMS), for Foreign Exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM). According to a statement by Omolara Duke, Director, Financial Markets Department , the EFEMS will be implemented not later than Dec.1. Duke said that the…
Northern groups under the aegis of Amalgamated Arewa Youth Groups (AAYG), have said that the best new year gift to Nigerians by President Muhammadu Buhari is to sack and arrest the Governor of Central Bank of Nigeria (CBN), Dr. Godwin Emefiele. The groups, which listed some of the alleged crimes that warrant the sack…
