Nigeria
Nigeria removed from FATF list
In an announcement issued on Friday 23 June the Financial Action Task Force (FATF) announced that Nigeria has been removed from the Non-Cooperative Countries and Territories (NCCT) list.
Central Bank of Nigeria - Annual Report 2004
According to the Central Bank of Nigeria's Annual Report 2004, the performance of the external sector improved significantly as the overall balance of payments position swung from a deficit in 2003, to a surplus in 2004.
DAS: Why is CBN fooling Nigerians?
According to this article published on Monday 27 February , the various exchange rate mechanisms whether christened FEM, IFEM, AFEM, or DAS, could never claim to be truly market determined and have all without exception, eventually led to the…
Nigeria introduces new Forex system
Nigeria introduced the new wholesale Dutch Auction System (DAS) of foreign exchange allocation on Monday 20 February to replace the old retail DAS in a bid to further liberalise the country's Forex system.
Arrests follow attack on Soludo's father
Police in Nigeria have arrested two men following an attack on the father of the governor of the Central Bank of Nigeria.
Comment: Nigeria's CB wins praise
In the statement accompanying its BB minus long-term credit rating for Nigeria, the rating agency Fitch this week applauded policymakers' "strong commitment to economic reform", including "measures to rationalise the banking system" implemented by the…
Interview with CBN's Charles Soludo
Speaking on Thursday 19 January Central Bank of Nigeria governor Charles Soludo forecast 2006 inflation to fall to "single digits", probably nine percent, and said 2005 price growth had likely been 12 percent, just above the 10 percent target.
Nigeria's Soludo to speak on global economy
The Central Bank of Nigeria Governor, Prof. Charles Soludo, will speak on the global economy on January 24, at the World Economic Forum in Davos, Switzerland.
Eventually, Soludo is the solution
According to this article, Saturday 31 December 2005 marked the triumph of Central Bank of Nigeria governor Prof. Charles Soludo's vision over preponderant pessimism, the haranguing of hired hecklers and the legal ambush of vested interests.
Nigeria's Soludo - Central banker of the year
The governor of the Central Bank of Nigeria (CBN), Charles Soludo, has been named the African and Global Central Bank Governor of the Year 2005 by 'The Banker' magazine.
BCEAO governor named as Cote D'Ivoire PM
The governor of the Central Bank of West African States (BCEAO), Charles Konan Banny, has been named the new Prime Minister of the Cote D'Ivoire, formerly known as Ivory Coast.
Nigeria's president approves CBN appointments
President Olusegun Obasanjo has approved the appointment of five new non-executive directors to the Board of the Central Bank of Nigeria following the expiration of the terms of the former members.
CBN to lose over 1,000 staff
About 1,040 staff at the Central Bank of Nigeria (CBN) lost their jobs this week following the implementation of the CBN's "Project Eagles" restructuring and re-engineering exercise.
ECOWAS central bank governors begin Accra meeting
Central bank governors of ECOWAS member countries were due to converge on Accra Wednesday 31 August for the 15th meeting of the Committee of Governors (COG) to deliberate plans to achieve macro-economic convergence criteria for the creation of a single…
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,…