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AFCON 2021: Super Eagles In Dream Land As Otedola Promises To Give The Team $250,000 If They Win The Tournament In Cameroon

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Billionaire businessman, Femi Otedola has promised the Super Eagles squad $250,000, if they lift the 2021 Africa Cup of Nations in Cameroon. Governor of the Central Bank of Nigeria, Godwin Emefiele, who represented CACOVID during a visit to the team’s camp in Cameroon, made the disclosure. He also said the private sector-led platform established to assist the government in combating Coronavirus in the country, will also give the Super Eagles team  $120,000 for the six goals they scored in the group stage of the tournament. Recall, the Eagles finished the group stage with six goals, which amounted to $120,000. Emefiele, who praised the team for their performance at the AFCON, also added that CACOVID has increased the amount for ev I came with a message from the

Tension Mounts As CBN Monetary Policy Committee Members Worry Over Nigeria’s Economic Recovery

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Members of the Central Bank of Nigeria’s Monetary Policy Committee, MPC, have expressed worry over the fragility of the country’s economic recovery. The country’s economy slipped into recession in the third quarter of 2020 and exited in the following quarter. According to the National Bureau of Statistics, the country’s real GDP grew 4.03 percent (year on year) in the third quarter of 2021, showing sustained positive growth over the last four quarters since the recession witnessed in 2020. Despite the growth, the committee members have expressed worries and recommended measures be taken to boost the growth. The officials expressed their concerns in their personal statements contained in the communique of the last CBN MPC meeting of 2021. According to the CBN governor, Godwin Emefiele, while the economy

Anchor Borrowers’ Programme: President Buhari Set To Unveil CBN, RIFAN Mega Rice Pyramids On Tuesday

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President Muhammadu Buhari will tomorrow unveil one million bags of rice paddy stacked as pyramids in Abuja. Considered to be the biggest of its type in Africa, the pyramids are located on the grounds of the Abuja Chamber of Commerce and Industries (ACCI) on Airport Road. The rice pyramids were built with 1 million bags of rice paddy planted and harvested from states across the country under the Anchor Borrowers’ Programme (ABP). The bags of rice paddy that formed the pyramids were recovered from farmers in lieu of cash to pay back for the loans they collected under the ABP. When The Nation reporter visited the site of the pyramids, a worker of the Central Bank of Nigeria (CBN), who spoke in confidence, said:

Accept And Recommend PAPSS To Businesses In Nigeria – CBN Urges Financial Institutions

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The Governor of the Central Bank of Nigeria (CBN), has said that the financial institutions under its jurisdiction will accept the Pan-African Payment and Settlement System (PAPSS) and recommend it to businesses across Nigeria. Mr Godwin Emefiele said this yesterday in Accra, Ghana, during the launch of PAPSS. The CBN governor described PAPSS as a breakthrough achievement for the continent, saying it would help facilitate trade and enhance payment gateways across West Africa. Speaking at the event, Emefiele said, “CBN will ensure the financial institutions under its jurisdiction accept PAPSS and recommend it to businesses across Nigeria. According to Emefiele, the new payment method will aid in the formalization of trade on the continent, as well as benefit households, businesses, and financial institutions. With the

2023: I Forgot To Inform Buhari I’m Running For President – Moghalu Mock His Colleagues

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A presidential hopeful, Kingsley Moghalu, on Wednesday, said he forgot to inform the President Muhammadu Buhari, of his intention to run for President in the 2023 general elections. “I forgot to inform President @Mbuhari that I am running for President. But I informed Nigerians, of whom he is one, so no wahala (problem)!” he tweeted. Moghalu, a former Deputy Governor of the Central Bank of Nigeria, was the presidential candidate of the Young Progressive Party in 2019 but he lost the election to Buhari. He joined the African Democratic Congress in 2021 and declared his intention to run for the exalted office in Aso Villa again in 2023. Moghalu’s tweet followed the declaration by All Progressives Congress National Leader, Bola Tinubu; and Ebonyi State Governor,

CBN Pledges To Increase Access To Finance And Credit For Households, Businesses In 2022

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The Central Bank of Nigeria has said that the banking sector will increase access to loans for Nigerian households and businesses in 2022. This was disclosed by Governor of the Central Bank of Nigeria, Godwin Emefiele, in a statement. He stressed the need for all stakeholders to work to build a more resilient economy that would be better able to contain external shocks while supporting growth and wealth creation in key sectors of the economy. Godwin Emefiele stated that the objective of the central bank in 2022 would be to increase access to loans for households. He said, “The policy focus of the bank for 2022 is with a pledge to sustain improved access to finance and credit for households and businesses, mobilise investment

Forex: ABCON Urge CBN To De-risk BDCs Operations To Receive Diaspora Remittances

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The Association of Bureaux De Change Operators of Nigeria (ABCON), an umbrella body for over 5,3000 Central Bank of Nigeria (CBN)-licenced Bureaux De Change (BDCs) has urged the apex bank to de-risk BDCs operations to allow operators receive diaspora remittances in 2022. In a statement released at the weekend, ABCON President, Alhaji (Dr) Aminu Gwadabe said the BDC sector is becoming comatose since July 2021 Monetary Policy Committee (MPC) meeting where the CBN suspended weekly dollar interventions to BDCs. He said that while BDCs are licensed to offer retail, across the counter foreign exchange transactions, they equally contribute to Nigeria’s economic development. The BDCs, he added are ensuring order and confidence in the forex market, providing data for monetary policy, channels for CBN

Farmers Who Default In Paying Back Loans Gotten From Anchor Borrowers’ Program Will Be Arrested – CBN Blows Hot

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The Central Bank of Nigeria has stated that farmers who default in paying back loans gotten from the Anchor Borrowers’ Program will be arrested and locked up until they pay back the loans. This was disclosed by the CBN Comptroller, Bauchi Branch, Saladu Idris, while speaking at the Secretariat of the Nigerian Union of Journalists (NUJ). The CBN official stated that even though a lot of farmers have remained, the loan defaulters were particularly amongst the rice farmers. Mr. Idris bemoaned the fact that some rice farmers who were part of the Anchor Borrowers Scheme had defaulted on their loans. He said, “Most people have paid back but there are a few who have failed to pay back. We called the leaders of the

Great Move From CBN As Nigerians Can Now Apply For Forex Online Following Apex Bank Deployment Of e-Form ‘A’

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Nigerians can now apply for forex online, thanks to the Central Bank of Nigeria’s deployment of an electronic Form ‘A’ to expedite applications for PTA/BTA, medicals, education, and other remittances. This was disclosed in a circular titled, “Automation of Form ‘A’ on the Trade Monitoring System” and signed by Dr Ozoemena Nnnaji, Director Trade and Exchange Department. The CBN states that all hard copies of Forms ‘A’ created on or before November 2, 2021 (before the start of the e-Form ‘A’) must be used within 15 working days of the Form’s creation. What is Form A? Form A is an application form designed by the Central Bank of Nigeria to pay for service transactions (invisible trade). The form allows customers to purchase forex at the CBN or interbank

Panic As CBN Set To Publish Names Of Agric Fund Defaulters, Risk 5-year Jail Term Gor Diversion

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The Central Bank of Nigeria (CBN) stated that it would publish names of loan defaulters under its Agricultural Credit Guarantee Scheme in the newspapers. This is according to a document titled “Guidelines for the Agricultural Credit Guarantee Scheme” recently released by the CBN. The CBN also warned that borrowers who divert the funds provided under the Agricultural Credit Guarantee Scheme Fund (ACGSF) may earn a five-year jail term. According to the CBN, the Fund aims to provide a guarantee in respect of loans granted by lending banks for agricultural purposes under the scheme. In furtherance of the scheme, the bank will do what it must to recover loans from defaulters. “The Fund if considered necessary will publish names of defaulters in the newspapers and report same to the

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