Nigeria
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…
CBN fails to take its place on NBCB governing body
A month after the National Board for Community Banks (NBCB) was inaugurated the Central Bank of Nigeria (CBN) has not attended any meetings nor fill its position on the board, NBCB sources confirmed to Vanguard, Nigeria.
Phantom resignation in Nigeria
Nigeria's central bank became the object of a bit of jiggery pokery recently when local media wrongly reported that the governor, Joseph Sanusi, had resigned. Newsmakers went to investigate, but could not locate the sources that had originated these …
Phantom resignation in Nigeria
Nigeria's central bank became the object of a bit of jiggery pokery recently when local media wrongly reported that the governor, Joseph Sanusi, had resigned. Newsmakers went to investigate, but could not locate the sources that had originated these …
CBN: Who wants Sanusi out ?
An article in the Nigerian Daily Times discusses the recent speculation over the resignation of the governor of the central bank of Nigeria (CBN) Joseph Sanusi. During the week he found himself learning about his resignation from the media the article…
Nigerian cb denies governor's resignation
The central bank of Nigeria denied on Tuesday 17 June that its governor, Dr Joseph Sanusi, had resigned over price instability, according to the Vanguard website. A CBN spokesman said the governor was "thoroughly embarrassed" by the story.
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.