Nigeria
Nigeria cb shelves plan for 1,000 naira note
Plans to bring in a 1,000 naira note in Nigeria have been put on hold, according to a report by The Guardian, Lagos The note would be worth double the current highest denomination banknote but the plan was shelved due to unfavourable economic conditions.
Central Bank of Nigeria - Annual Report 2002
The Central Bank of Nigeria has published its Annual Report for the year ended 2002.
Experts want Nigeria's central bank split into two
A team of experts from the IMF, Bank of England, CBN and key areas has recommended splitting the central bank of Nigeria into two separate institutions with different responsibilities, according to a report from This Day News.
CBN seeks restriction on lending to government
Nigeria's central bank is supporting a Bill which would place further limits on government borrowing from the central bank. According to the Daily Times of Nigeria, CBN Governor Joseph Sanusi said fiscal prudence was vital for the effective conduct of…
Nigeria: IMF won't derail African single currency
Nigeria on Thursday reacted sharply to criticism by the International Monetary Fund (IMF) of the proposed single currency for the West African sub-region, warning that no amount of blackmail would stop the project. CentralBankNet reported the IMF…
IMF Working Paper
RESEARCH - The IMF Working Paper "Monetary Union in West Africa: Who Might Gain, Who Might Lose, and Why?" published December 2002 concludes that it would not be in the interests of other ECOWAS countries to enter into a monetary union with Nigeria…
Nigerian sleaze hits Africa's single currency plan
Officials at the International Monetary Fund (IMF) have warned West African nations against creating a single currency, over fears that Nigerian involvement would undermine its credibility.
How to strengthen naira, by Nigeria's Sanusi
The Governor of Central Bank of Nigeria (CNB), Dr. Joseph Sanusi, said Monday, that the only way to strengthen the naira at the foreign exchange market was to increase productivity of locally made goods.
Nigerian banks need code of operations, CBN chief
NIGERIA - Worried about recent experience in the global financial sector where corporate scandals have become the order of the day, governor of the Central Bank, Chief Joseph Sanusi, has asked banks to draw up a national code guiding operations of…
Major revolution in Nigeria's bank industry begins
NIGERIA - A major revolution in Nigeria's banking industry began Monday with the automation of cheque clearing among all 90 banks in the country. The launching of the Nigerian Automated Clearing System (NACS), an arm of the Nigeria Inter-Bank Settlement…
CBN chief speaks on ways to support WAMZ
NIGERIA - As part of plans towards the establishment of a common currency in the Economic Community of West African States (ECOWAS) sub-region under one central bank next year, the director of research at the Central Bank of Nigeria (CBN), Dr. O.J…
CBN identifies constraints to e-banking
NIGERIA - In spite of the various benefits banks derive from e-banking, there are still some constraints to its adoption and efficient operation in Nigeria.
Nigerian central bank tackles money laundering
NIGERIA - As the war on money laundering intensifies in Nigeria, the Central Bank of Nigeria has given local banks until the end of September to clean up their acts or face severe sanctions.
Nigerian central bank tackles money laundering
NIGERIA - As the war on money laundering intensifies in Nigeria, the Central Bank of Nigeria has given local banks until the end of September to clean up their acts or face severe sanctions.
Nigerian central bank tackles money laundering
NIGERIA - As the war on money laundering intensifies in Nigeria, the Central Bank of Nigeria has given local banks until the end of September to clean up their acts or face severe sanctions, reports Business Day.
African regional currency may take off in 2004
NIGERIA - The proposed West African Monetary Zone that would pave room for a single currency for the sub-region may take-off in 2004, Information and National Orientation Minister, Professor Jerry Gana disclosed in Abuja Thursday.
Theft from Nigerian central bank van denied
NIGERIA - A middle-aged man, Mustapha Abubakar, has appeared before an Upper Sharia Court, Sokoto for allegedly removing bank notes from a Central Bank of Nigeria armoured van. However, in his defence the man said in court he was inside the van only to…
Nigerian c bank tighten licensing law of new banks
NIGERIA - The Central Bank of Nigeria (CBN) may have soft-pedalled on the licensing of new banks which was put on hold almost three months ago.
Dutch auction won't depreciate Naira, says CBN
NIGERIA - The Central Bank of Nigeria (CBN) has said that contrary to speculation, the newly introduced Dutch Auction System (DAS) in the nation's foreign exchange market would not lead to the depreciation of the naira.
Central Bank of Nigeria - Annual Report 2001
ANNUAL REPORT - The Central Bank of Nigeria has published its Annual Report for the year ended 2001.
Nigerian cb under investigation for fraud
NIGERIA - The Central Bank of Nigeria is under investigation for all the cases of fraud, corruption and mismanagement levelled against it and the banking system following an order by the House of Representatives.
Nigerian budget will hurt economy - Central bank
NIGERIA - The Central Bank of Nigeria (CBN) said Wednesday the country's 2002 budget would hurt the economy if it were implemented as it was passed by parliament.
Abachas reported to return $1bn to Nigeria
UK - The family of Sani Abacha, Nigeria's former dictator, has agreed to return $1bn ( £600m) in funds looted from the country's central bank in return for the dropping of theft and money laundering charges against Abacha's son and one of Abacha's…
Nigeria's c bank urged to review monetary policy
NIGERIA - Central Bank of Nigeria and other regulatory authorities have been asked to reconsider their control strategies with the aim of striking a balance between exchange and interest rates policies in the overall interest of the productive sectors of…