Central Bank of Nigeria

(redirected from Nigerian Central Bank)

Central Bank of Nigeria

The supreme monetary authority in Nigeria. It issues the Nigerian naira, maintains foreign currency reserves and is charged with maintaining monetary stability. It is also the lender of last resort for Nigerian banks. It was established by law in 1958.
References in periodicals archive ?
The Nigerian central bank has announced a plan to offer soft loans to one million graduates.
In 2013, DERMALOG won an international tender from the Nigerian Central Bank for the 50-million-dollar project.
The Nigerian central bank has further stated that the facility will be managed by the Development Finance Department on a routine basis.
Dr Lanido Sanassi, the governor of the Nigerian Central Bank, was dismissed by President Jonathan after he was accused fraudulent bankers of helping oil thieves siphon and launder $20 billion in stolen state revenues.
Our pride in taking courageous steps can be seen in our willingness to lead financial services through new products and services such as the implementation of biometric ATMs in 2010, which has become an industry mandate by the Nigerian Central Bank.
But the Nigerian central bank issued guidelines in December for asset-backed securities that would use IILM certificates as collateral - essentially creating three layers of sukuk.
This is no small matter given that subSaharan Africa's two largest countries are fighting for political and economic leadership position, and especially as the Nigerian Central Bank had not granted a license to a foreign bank in over 10 years.
The bank's share price plummeted after the stock-market in Nigeria crashed as a result of the global financial crises, which lead to the bank needing a bailout from the Nigerian Central Bank in 2009.
Visiting Nigerian Central Bank Governor Sanousi Lamedo discussed with Berri venues for promoting relations and cooperation in all fields and to the benefit of both peoples.
I was impressed again this week by the action taken by the Nigerian central bank in the face of five of the country's banks running into serious problems.
Since then, it has undergone several cycles of maintenance extended because of payment problems related foreign exchange between the Nigerian Central Bank and the contracting companies.
The Nigerian central bank has asked commercial banks to lend more to SMEs.

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