LAGOS FEBRUARY 14TH (NEWSRANGERS)-Nigeria is seeking Interpol’s help to arrest three suspects who allegedly stole $6.2m (£4.9m) from the central bank, using the forged signature of then President Muhammadu Buhari. Authorities believe that the suspects conspired with Nigeria’s former central bank chief Godwin Emefiele. He is already on trial on 20 charges, including illegally receiving…
LAGOS JANUARY 29TH (NEWSRANGERS)-President Bola Tinubu has announced a shake-up in the oil sector to ensure transparency amid concerns about declining oil revenue and opaque practices within the NNPC. The President has directed the Central Bank of Nigeria (CBN) to take over responsibility for crude oil sales from the Nigerian National Petroleum Company Limited (NNPCL)….
LAGOS JANUARY 10TH (NEWSRANGERS)-The Central Bank of Nigeria has sacked the entire board of Polaris bank, Titan bank, and Keystone Bank. CBN sources say the decision was taken in a meeting led by the apex bank’s governor, Yemi Cardoso. The action follows the recommendation of the Special Investigator, Jim Obazee, appointed by President Bola Tinubu in…
LAGOS JANUARY 9TH (NEWSRANGERS)-An FCT High Court has awarded the sum of N100 million in damages in favour of former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele over his prolonged detention without trial, which it declared a flagrant violation of his fundamental rights. In the judgment on Monday, Justice Kayode Adeniyi also…
LAGOS DECEMBER 25TH (NEWSRANGERS)-Godwin Emefiele, the embattled former Governor of the Central Bank of Nigeria (CBN), has denied allegations of illegal foreign deposits and unauthorised bank operations levelled against him by a private investigator’s report. He called the report “misleading” and an attempt to disparage his personality. He said this in a signed statement late…
LAGOS DECEMBER 22ND (NEWSRANGERS)-The Central Bank of Nigeria (CBN) has lifted its two-year-old ban on cryptocurrency, replacing it with a comprehensive regulatory framework aimed at harnessing its potential while mitigating risks. The policy shift was announced on Friday in a circular signed by CBN Director of Financial Policy and Regulation, Haruna Mustapha. The full statement…
LAGOS NOVEMBER 26TH (NEWSRANGERS)-Nigeria’s central bank pledged major changes to get a grip on inflation and steady the country’s battered currency, signaling tighter monetary policy ahead. The Central Bank of Nigeria will switch to inflation targeting instead of trying to control money supply in its battle to slow price increases, Governor Olayemi Cardoso said in…
LAGOS NOVEMBER 15TH (NEWSRANGERS)-The Central Bank of Nigeria has announced its intention to extend the validity of the old N200, N500, and N1,000 noted indefinitely. This is as the apex bank declared its desire to extend the validity of old naira notes beyond any expiry date. According to the bank, it is working with the…