20

Apr

Governors’ Request To Borrow N50 Billion From The CBN Rejected By The FG

Mrs. Zainab Ahmed, Minister of Finance, Budget, and National Planning, explained how the federal government rejected governors’ bid to borrow N50 billion from the Central Bank of Nigeria (CBN) to cover a revenue deficit in March and allocate the money through the Federation Account Allocation Committee (FAAC). According to the minister, who appeared on a National Television Authority (NTA) program monitored in Abuja, the federal government found reports by Edo State Governor, Mr. Godwin Obaseki, that it printed N60 billion to supplement funds shared to states in March surprising. Governors bemoaned the state’s precarious finances as a result of the […]

14

Sep

COVID-19: CBN, bankers’ committee to support airlines, media

The Central Bank of Nigeria and the Bankers’ Committee have agreed to extend special facilities to Nigerian-registered airlines and the media industry in Nigeria to enable them to address the negative impact of the COVID-19 pandemic. CBN said the agreement, which was on the prompting of its Governor, Godwin Emefiele, was made on Tuesday. It said Emefiele, while addressing banks’ chief executives at the bi-monthly virtual meeting of the Bankers’ Committee, urged the banks to do all within their powers to support airlines in Nigeria. The CBN boss said such support was critical to helping the industry recover from the[…]

14

Sep

CBN, DBN urge MfBs to improve sustainable banking

The Development Bank of Nigeria and the Central Bank of Nigeria have urged microfinance banks and other participating financial institutions to improve their sustainability efforts and become more responsive to their social and ecological environment. The banks said this was important as Nigeria and the global communities continued to grapple with the effects of climate depletion and economic uncertainties caused by the COVID-19 pandemic According to a statement on Friday entitled ‘DBN advocates sustainability banking for MFBs,’ the banks said this during a webinar organised by DBN for MfBs and PFIs. The initiative was focused on deepening DBN’s efforts to[…]