Nigeria
Nigeria in record forex sale
The Central Bank of Nigeria offered $500 million to banks in the foreign exchange market on 23 August, in its largest ever sale of foreign exchange.
Rwandan Fin Min named to African Development Bank
Rwandan Finance Minister, Mr Donald Kaberuka (54) has been elected President of the African Development Bank Group (ADB) during the extraordinary Meeting of ADB Governors held on 21-22 July 2005 in Tunis.
Nigeria plans payment system reforms
The Central Bank of Nigeria (CBN) has said its major priority following the consolidation of the banking industry is to reform the payments system which currently remains largely cash-based.
Nigeria appoints deputy governor after resignation
The Central Bank of Nigeria announced on Tuesday 3 May that Dr Obadiah Mailafia will replace Mrs Wahir Mshelia as the Deputy Governor for Policy on Monday 9 May. Mshelia resigned last week with press reports suggesting there were 'strong indications' she…
CBN on learning curve
In almost one year of Charles Soludo's appointment as governor of the Central Bank of Nigeria his tenure the CBN is in a learning curve, this article says. This has manifested in three major policies, among them the restructuring of the CBN and the…
Nigeria may move from dollar reserves
The Central Bank of Nigeria may consider reducing Nigeria's exposure to the United States dollar by moving the country's reserve towards the pound sterling and euro as a result of the continuing decline in the value of the dollars, a press report in…
Interview with Central Bank of Nigeria's Soludo
In a recent interview Central Bank of Nigeria governor Charles Soludo talked about his plan to increase banks' minimum capital requirement. Soludo gives his opinion on some of the most talked-about points of his plan.
CBN may lose 2,000 staff
The Central Bank of Nigeria may lose up to 2,000 staff as part of a restructuring of the bank, press reports said this week. The majority of the affected employees work in four departments which are to be phased out as part of the plans, Vanguard said.
CBN autonomy may be under threat
The wholesale autonomy granted to the Central Bank of Nigeria could soon be under threat after Deputy Chairman of Banking and Currency Committee said in Enugu this week that issues of economic interest to the nation should not be left in the hands of the…
Nigeria's Soludo on consolidating banking industry
In a speech on 'Consolidating the Nigerian banking industry to meet the development challenges of the 21st century' given on 6 July, Charles Soludo of the Central Bank of Nigeria said the Central Bank will collaborate with other institutions - the NDIC,…
Staff audit begins at Central Bank of Nigeria
The central bank of Nigeria (CBN) is embarking on a staff audit exercise aimed at fishing out ghost workers on its payroll, Vanguard reported this week. The exercise will cover serving members of staff and pensioners.
Central Bank of Nigeria: From Sanusi to Soludo
This article published by Vanguard today, 28 May, looks at the leadership changeover at the Central Bank of Nigeria. Joseph Sanusi will step down as CBN governor on Saturday, 29 May, when Professor Charles Soludo will begin his own tenure. Sanusi's five…
CBN launches efficient document management system
Towards addressing the problems of storage, archival and retrieval of vital documents, the Central Bank of Nigeria (CBN) on Monday 24 May launched the Integrated Document Management Solution (IDMS), a filing system designed to achieve efficient document…
Sacked workers petition new CBN governor
More than 1,000 staff retrenched from the Central Bank of Nigeria between 1996/1998 have petitioned the incoming CBN Governor, Professor Charles Soludo over their plight.
Nigeria gets new central bank governor
The Nigerian government announced on Thursday (29 April) the appointment of Professor Charles Soludo as the new Governor of the Central Bank of Nigeria (CBN). Also appointed by President Obasanjo was W. A. Mshelia, the first woman deputy governor of the…
CBN's Sanusi launches 'Project Eagles'
Governor of the Central Bank of Nigeria (CBN), Chief Joseph Sanusi, on Thursday 15 April launched the re-engineering and restructuring of the central bank, known as "Project Eagles" with a view to making the CBN one of the world's most efficient and…
CBN issues new settlement system guidelines
The Central Bank of Nigeria (CBN) has released guidelines on the new settlement system for the banking industry, scheduled to commence on the 1st of April.
Nigeria appoints new deputy governor
Tunde Lemo has been appointed as a deputy governor of the Central Bank of Nigeria by President Olusegun Obasanjo.
Nigeria threat to sue UK over seized £3m
The Nigerian government has called on the UK to return £3m ($5m) it says was stolen from the Nigerian central bank, the Financial Times reports. The matter concerns three suitcases of cash seized at Heathrow airport and kept by the UK Treasury, as it was…
Nigerian cb branded reckless and inefficient
The central bank in Nigeria has been denounced for its "recklessness and managerial inefficiency" by a member of the House of Representatives, which he says explains the sorry state of the banking sector, according to a report in the Daily Champion,…
Nigeria's Sanusi on efforts towards monetary union
In a speech on 'Ongoing efforts towards a monetary union in the West African sub-region' given on 1 July Dr Joseph Sanusi of the Central Bank of Nigeria said he was pleased to be given the privilege to brief Governors about on-going efforts to move…
Nigeria's Sanusi seeks goal-oriented policies
The governor of the central bank of Nigeria, Dr Joseph Sanusi has urged drastic goal-oriented economic policies in West Africa. According to a Vanguard report, he said "To my mind, the time has come for a new approach and commitment to macroeconomic…
Sanusi - CBN's standpoint on anti-money laundering
In the speech 'Central Bank of Nigeria's standpoint of anti-money laundering compliance' Joseph Sanusi of the Central Bank of Nigeria said the CBN will continue to ensure compliance with the FATF guidelines, in addition to other domestic laws on money…
CBN rules out virtual banks in Nigeria
In its Draft Guidelines on Electronic Banking, the central bank of Nigeria has said that all banks in Nigeria must not only be fully licensed, they must also have a physical presence in Nigeria, adding that "virtual banks or banks that exist only in…