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.
Prior to 1986, exchange rates were administratively determined by the Central Bank of Nigeria (CBN).
Similarly, the Central Bank of Nigeria in its resolve to guarantee liquidity in the market injected the sum of $355.
The Central Bank of Nigeria (CBN) has said that it has approved a new bank.
Further to the directive of the Central Bank of Nigeria (CBN) to all Deposit Money Banks (DMBs) to return all outstanding unremitted Nigerian National Petroleum Corporation (NNPC)/Nigeria LNG Limited (NLNG) foreign currency, the CBN has issued a statement confirming that the United Bank for Africa (UBA) Plc has remitted all outstanding NNPC/NLNG deposits in its possession to NNPC's Treasury Single Account (TSA) at the CBN.
Industrial and Commercial Bank of China (ICBC) has recently signed with Central Bank of Nigeria and Dangote Group respectively Mandate Letter on China Cooperation and RMB Transactions and Production Capacity Cooperation Agreement, becoming Chinas first commercial bank signing agreements with Central Bank of Nigeria and Dangote Group.
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.
The Central Bank of Nigeria bailed out eight banks, including Intercontinental, with N620bn ($4bn) in 2009.
According to Kingsley Moghalu, a deputy governor at the central bank of Nigeria, the nation would see about five bank mergers soon.
The Central Bank of Nigeria Governor, Lamido Sanusi (above), still forecasts that Nigeria's economy will become the largest on the African continent next year, overtaking South Africa.
The Chairman of NEXIM Bank, who is also Deputy Governor of Central Bank of Nigeria, Mr.

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