Nigeria
Nigerian central bank will test prototype CBDC
“eNaira” will be tested in four cities, reaching a combined population of nearly 15 million
People: Former Malawi governor dies
RBNZ deputy governor departing; new appointments in Nigeria; and more
Nigerian central bank sacks board of third-largest lender
Central bank governor Emefiele says senior managers made large non-performing “insider loans”
People: IMF finance department director to retire
Third new board member at Colombia central bank; Nigeria appoints deposit insurance head; and more
Nigeria’s central bank unveils sandbox and QR guidelines
Both initiatives should help foster innovation within the payment space
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
Nigerian central bank freezes protestors’ accounts
Central bank says it is carrying out routine investigation, but protestors say it is targeting them
Nigeria’s central bank implements financial inclusion strategy targeted at women
Central bank wants to close financial services gender gap by 2024
Nigerian central bank cuts rates despite rising inflation
Country faces falling output and rising prices as general strike vote increases pressure
Nigerian president tells central bank to change forex policy
Central bank defends industrial subsidies and says border has been closed to prevent smuggling
Nigerian central bank clamps down on alleged FX breaches
Local media reports bank accounts for 38 firms were blocked as currency remains under pressure
Covid-19 policy-making and the need for high-speed data
High-frequency data holds the promise of speed and adaptability, but the rush to find alternative economic indicators has the potential to create problems
Confusion over Nigerian central bank’s exchange rate policy
Finance minister says rates will be unified while reports say real value of currency is falling
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
Nigeria slashes rates by 100bp
Central bank thinks stimulus package can still prevent the economy from entering recession
Nigeria gets $3.4 billion IMF support
IMF calls for more donor support but warns over possible misuse of aid
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
Nigerian central bank announces emergency measures
CBN will fund healthcare expansion and guarantee loans, and says currency will not be devalued
People: Nigeria and Latvia gain deputy governors
Bank of Israel says new bank supervisor will encourage technological innovation
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
People: Trump nominates Shelton and Waller to Fed posts
Judy Shelton and Christopher Waller nominated as Fed governors; Kingsley Obiora in line to be Central Bank of Nigeria deputy; Jill Forde named BIS head of communications
Nigerian central bank levies $1.3 billion on banks
Banks were fined over the failure to increase lending to 60% of deposits, say local sources
People: Riksbank appoints new executive board member
Swedish central bank promotes Cecilia Skingsley to first deputy governor; FCA appoints three new board members; Nigerian president appoints former deputy governor as special adviser
Cash increasingly used as store of value – BIS report
Cash “still king”, BIS authors say, but electronic payments are taking a bigger share of transactions