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NGX gains N264bn amid Cardoso’s nomination

September 18, 2023September 18, 2023 admin

The Nigerian Exchange (NGX) opened the trading week in positive territory as Investors reacted to President Tinubu’s nomination of Cardoso as the new CBN Governor. President Bola Tinubu had on September 15, 2023, nominated Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, subject to confirmation by the Nigerian Senate. How Equities Reacted Following Cardoso’s nomination, the All-Share Index (ASI) traded 0.71% higher to close at 67,877.17 index points as against 67,395.74 index…

OFFICIAL: CBN bans Nigerians from trading Crypto Currency, orders bank accounts invloved to be blocked.

February 5, 2021February 5, 2021 AOOMS

The Central Bank of Nigeria has ordered banks and other financial institutions to close customer accounts used in trading cryptocurrencies and other related transactions.

Central bank asked to obey court order on N37.4 billion promissory notes

January 3, 2021January 3, 2021 AOOMS

The Patriots for the Advancement Of Peace and Social Development (PAPS) has called on the Central Bank of Nigeria (CBN) to obey the orders of a Federal High Court, Abuja, restraining it from going ahead to process the N14.9billion promissory notes belonging to Zamfara State in favour of the United Bank for Africa (UBA).

Economy to grow weaker with rising inflation – CBN

December 22, 2020December 22, 2020 AOOMS

The Central Bank of Nigeria (CBN) survey for fourth quarter of 2020 (Q4 2020) showed that rising inflation will make the country’s economy weaker in 2021.

RELIABLE SOURCE: CBN to make ₦250bn available for the expansion of gas use

December 2, 2020December 2, 2020 AOOMS

CBN will make N250 billion available for infrastructure funding in a bid to expand gas use and cut reliance on imported fuel as government looks forward to offering free conversion to enable some cars to run on gas. More details later…..

Stealing half of Central bank as a president is utmost rubbish – Gowon

November 27, 2020November 27, 2020 AOOMS

Former Nigerian Head of State General Yakubu Gowon (Rtd) has reacted to allegations by a British lawmaker that he stole half of the Central Bank of Nigeria while in office.In his reaction on Wednesday, the former Nigerian leader described the submission by the British Parliamentarian, Tom Tugendhat as rubbish, noting that he served Nigeria meritoriously and never stole anything with the records clearly available for all to see.

Only cassava farmers might have access to ₦25bn loan – CBN

November 26, 2020November 26, 2020 AOOMS

The Central Bank of Nigeria (CBN) has said only farmers who grow improved disease-free cassava stems will have access to the N25 billion facility it has created to boost cassava production in Nigeria.

EXCLUSIVE! ATM & POS Frauds to be dealt with by EFCC & CBN

November 19, 2020November 19, 2020 AOOMS

The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office, on Tuesday, November, 2020, agreed to work together with the Kaduna Branch of the Central Bank of Nigeria, CBN, to ensure that public funds are kept safe.

Exclusive: CBN to reduce interest rate?

November 17, 2020November 17, 2020 AOOMS

As part of Nigeria government’s response to the Coronavirus pandemic, the Central Bank of Nigeria (CBN) has reduced interest rate on its intervention facilities from 9% to 5%, with a 1-year moratorium, till 31st March 2021.The CBN is also providing concessional lending of:

EXCLUSIVE: Establishment of Infrastructural company for the purpose of Infrastructural investment has been approved by the president.

November 17, 2020November 17, 2020 AOOMS

President Buhari has approved the establishment of an Infrastructure Company, wholly focused on critical infrastructural investments in Nigeria. This InfraCo will raise funding from Central Bank of Nigeria (CBN), Nigerian Sovereign Investment Authority (NSIA), pension funds and local & foreign private sector development financiers.