LAGOS JANUARY 31ST (NEWSRANGERS)-The Central Bank of Nigeria has released a guide for bank customers and others on how and where they can lodge complaints against financial institutions regulated by it. The financial institutions include commercial banks, microfinance banks, primary mortgage institutions, and discount houses. The CBN noted that it had earlier issued a circular…
LAGOS DECEMBER 3RD (NEWSRANGERS)-The 2019 audit report has revealed that the Central Bank of Nigeria recorded zero naira (nil) as recovered funds between 2016 and 2019 despite years of consistent recovery. Office of the Auditor-General for the Federation revealed this in its 2019 audit report published on its website. The report signed by Aghughu, Adolphus,…
LAGOS OCTOBER 21ST (NEWSRANGERS)-The Central Bank of Nigeria has said it will support youths in tertiary institutions with grants to promote entrepreneurship and reduce unemployment. The CBN disclosed this on Wednesday in a report, titled ‘Guidelines for the implementation of tertiary institutions entrepreneurship scheme’. “Five top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas…
LAGOS SEPTEMBER 18TH (NEWSRANGERS)-The Federal Government has said it will shut down the operations of Aboki FX, a website providing currency exchange information, which the bank described as an illegal and criminal platform. The Governor of the Central Bank of Nigeria, Godwin Emefiele, who disclosed this while fielding questions after the Monetary policy committee’s two-day…
LAGOS AUGUST 18TH (NEWSRANGERS)-The Federal Government’s total borrowing from the Central Bank of Nigeria through Ways and Means Advances has ballooned to N15.51tn, rising by 2,286 per cent in six years, data collated from the CBN have shown. The N15.51tn owed by the Federal Government to the central bank is not part of the country’s…
LAGOS AUGUST 18TH (NEWSRANGERS)-The Central Bank of Nigeria has warned that abusers of naira notes will be prosecuted by the financial regulator in collaboration with other regulatory bodies such as the Nigeria Police Force, Federal Inland Revenue Service, the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit. The warning, according to the…
LAGOS JULY 29TH (NEWSRANGERS)-The naira fell slightly to the dollar at the parallel market few hours after the Central Bank of Nigeria on Tuesday announced the discontinuity of forex supplies to the Bureau de Change Operators in the country. The CBN Governor, Godwin Emefiele, announced the end of forex sales and new licence approval after…
LAGOS JULY 29TH (NEWSRANGERS)-Nigeria’s central bank is halting dollar sales to exchange bureaus, saying they have become conduits for graft and illicit flows of money. “It is a huge hemorrhage on our scarce foreign exchange reserves and it cannot continue,” the bank’s governor, Godwin Emefiele, said on Tuesday. The decision by the central bank, which…
