Nigeria
Nigeria’s Sanusi urges innovative infrastructure financing
Nigerian governor says country must find new ways of raising $10 billion each year for infrastructure investment; argues this requires both private and public funding
Eight central bankers perish in Nigerian plane crash
Several employees of the Central Bank of Nigeria were killed in the June 3 plane crash in Lagos; among them was Canadian national Kim Norris, who was working as an adviser to the governor
Central Bank of Nigeria to build 'world-class' convention centre
Contractors invited to express their interest in submitting a tender to build a new 1,500-seat conference centre in Abuja; central bank wants “world-class” facility
Central Bank of Nigeria embroiled in plagiarism row
Central Bank of Nigeria responds to reports of legal action regarding plagiarism in public addresses given by governor Sanusi; stresses strict ethical standards are adhered to in preparing papers
Nigerian central bank adds new departments
Central Bank of Nigeria creates new departments to 'enhance operations'; three new female directors appointed
Nigeria needs more reserves and better inflation controls, says Fitch
Nigeria will need to further increase the size of its foreign exchange reserves and keep inflation in closer check if it wants to secure investment-grade status by 2020, says Fitch
African central bankers embrace a new world order
Africa’s central bankers are adopting new approaches to managing their reserves as trade with Brics rises and the influence of developed nations wanes
Nigeria rolls out ‘cash-less’ Lagos project
Central Bank of Nigeria issues clarifications as cash-less society is introduced in Lagos; reassures public that cash transactions have not been eliminated altogether
Lagarde applauds Nigerian sovereign wealth fund creation
Christine Lagarde makes first visit to Africa since becoming managing director of the IMF; hails creation of Nigerian sovereign wealth fund as an “important advancement”
NALM Africa 2011: African central banks rethink reserves allocations
The drop-off in US Treasury yields and concern about a eurozone sovereign collapse has prompted a number of African central banks to review their reserves allocations
Sanusi reveals ‘strategic’ decision to hold renminbi reserves
Governor of the Central Bank of Nigeria explains why he made the decision to convert some of the country’s reserves into renminbi; says Nigeria left it “too late” to buy gold
RMB’s rise to reserve currency status accelerates
Renminbi progresses towards becoming a reserve currency in its own right; a number of central banks have begun to diversify into the Chinese currency
Central banks’ flight to safety in reserve holdings continues
Reports continue to emerge from around the world of central banks diversifying their foreign currency reserves and adding to gold holdings
Nigeria banking gets back on its feet
Deputy governor Kingsley Chiedu Moghalu explains how the Central Bank of Nigeria has restructured the country’s banking sector and regulatory architecture since the financial crisis
Nigeria unveils payments system overhaul
Payments system faces complete overhaul in 2012; aim is to reduce reliance on cash
West African central bankers receive training in debt managment and corporate governance practices
West African Institute for Financial Management works with IMF and World Bank to train region’s central bankers
Nigeria stands by Sanusi’s government barbs
Central Bank of Nigeria maintains governor Sanusi Lamido Sanusi’s assertion that legislative branch absorbs quarter of all government overheads; comments spark anger from politicians
Nigeria to launch new mobile payments system
Central Bank of Nigeria grants licence to create system that will provide banking services to all with a mobile phone
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
Nigeria close to setting up sovereign wealth fund
President Goodluck Jonathan proposes legislation to national assembly that will pave the way for a sovereign wealth fund, say reports
Nigeria’s bad bank comes to life
Nigerian President signs bill approving creation of bad bank to take $10 billion in toxic loans off beleaguered banks’ balance sheets; agency to be up and running by end-September
Interview: Sanusi Lamido Sanusi
The governor of the Central Bank of Nigeria discusses banking reform, the Volcker rule, and the role of lenders in society
EXCLUSIVE: Nigeria to cut out universal banking
Nigerian governor Sanusi Lamido Sanusi says new guidelines similar to Volcker rule will prohibit lenders’ engagement in non-banking activities; takeover deals for bailed out banks near completion
EXCLUSIVE: Nigeria’s Sanusi explains banking sector bloodletting
Nigerian central bank chief Sanusi Lamido Sanusi explains why he had to “decimate” opposition to his sweeping bank reforms; says Volcker rule poses no conflict with the true task of banks