Central Bank of Nigeria


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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 Central Bank of Nigeria has taken on an expanded role in oversight, regulation and thought leadership
The pair said they did not want to speculate on decisions likely to be made by the Central Bank of Nigeria with regards to Intercontinental Bank.
The Act provides for 'a part-time Chairman who shall be a Deputy Governor in the Central Bank of Nigeria to be nominated by the Central Bank of Nigeria.'
The TSA, introduced by the Federal Government of Nigeria in 2012, consolidates all inflows from the country's ministries, departments and agencies (MDAs) by way of deposit into commercial banks, traceable into a single account at the Central Bank of Nigeria. It was established in order to reduce the proliferation of bank accounts operated by MDAs and to promote financial accountability among governmental organs.
The Central Bank of Nigeria is one of the first foreign central banks investing foreign reserves in the RMB assets.
Sanusi lost his job as Central Bank of Nigeria governor in February 2014 after he accused the Nigerian National Petroleum CorporationAaAaAeAeAaAe failing to remit $20 billion in oil money,AaAaAeAeAaAeAeA according to (http://pulse.ng/local/sanusi-lamido-nigeria-was-losing-1bn-a-month-under-jonathan-emir-says-video-id4434634.h Pulse Nigeria news site.AaAaAeAeAaAeAeA The allegation, however, led then-Presi Jonathan to authorize an audit into the accounts of the state-run petroleum firm by PriceWaterhouseCooper.
The Central Bank of Nigeria bailed out eight banks, including Intercontinental, with N620bn ($4bn) in 2009.
The bank had applied to the central bank of Nigeria for a National Commercial Banking Licence under a stand-alone operating model.
The Central Bank of Nigeria (CBN) on Monday published the consumer protection framework, guidelines on disclosure and transparency.
The central bank of Nigeria has said that it would conduct spot checks on banks to ensure their liquidity.
MoneyGram (NASDAQ: MGI) has reported the continuity of its operations in Nigeria, following recent market developments as the Central Bank of Nigeria (CBN) changed its policy on how remittance companies can continue to provide money transfer services in Nigeria, the company said.
Folake Ani-Mumuney, Head of Marketing and Corporate Communications at FBN said, Firstmonie has continued to show its commitment to upholding the financial inclusion drive by the Central Bank of Nigeria and this is evident in its recent award of the Best Mobile Money Operator in Nigeria by the EFInA Financial Inclusion Awards.

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