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Cardoso urges action to address shortage of finance professionals

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has emphasized the urgent need to tackle the shortage of skilled professionals in finance-related fields within Nigerian universities. In a statement released by the CBN on Sunday, Cardoso made this call during a strategic meeting held at the CBN headquarters in Abuja, according to […]

Bankers oppose removal of retained earnings in CBN terms
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Nigeria’s external reserves surge to $39.07bn – Cardoso

Nigeria’s external reserves have continued to grow, reaching $39.07 billion as of September 19, 2024. This increase reflects positive trends in foreign exchange inflows and ongoing efforts to stabilize the economy. This was disclosed by the Governor of the Central Bank of Nigeria, Yemi Cardoso, at a press briefing at the end of the 297th […]

Private sector laments loan repayment as interest rate hits 26.26%
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FAAC allocations affect exchange rate stability – Cardoso

The Central Bank of Nigeria has indicated a significant correlation between monthly disbursements from the Federation Account Allocation Committee and liquidity levels in the banking system. The CBN noted that these disbursements play a crucial role in influencing exchange rates. The Governor of the CBN, Mr. Yemi Cardoso, made this disclosure at the press briefing […]

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Cardoso ‘pleased’ with naira recent stability, says worst days over

Nigeria’s Central Bank governor, Olayemi Cardoso, says he’s “relatively pleased” with the naira’s recent stability. In an interview with Bloomberg TV on Tuesday, Cardoso affirmed that the naira’s high volatility would not resurface again. He said “I do believe that we have more or less seen the worst in terms of volatility,” Cardoso said. “We […]

Natural catastrophes, conflict pose danger to countries' financial stability - Cardoso
Banking

Natural catastrophes, conflict pose danger to countries’ financial stability – Cardoso

The governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, has stated that natural catastrophes and violence have jeopardized the financial stability of nations. The PUNCH recorded that, at the Joint World Bank/IMF/WAIFEM Regional Training on Medium Term Debt Management Strategy in Abuja on Monday, Cardoso issued the warning. The head of the Apex […]

Osun resubmits state's nomination for bank role, challenges CBN’s rejection
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FX debt: CBN owes just five banks, says Cardoso

With the exception of five banks, foreign exchange backlogs have been resolved, according to Olayemi Cardoso, Governor of the Central Bank of Nigeria. According to The PUNCH, Cardoso made this announcement on Thursday during an investor call that was organized by the Nigerian Exchange Group. He also promised to resolve the remaining foreign exchange backlogs […]

MPC to raise interest rates on Monday despite high inflation - Analysts
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MPC to raise interest rates on Monday despite high inflation – Analysts

Meristem Research analysts predict that the newly created Monetary Policy Committee would raise the Monetary Policy Rate during its meeting on Monday and Tuesday. According to BusinessDay, the experts stated in Meristem’s macroeconomics report that the MPC would be concentrating on discussing a~ number of topics, such as evaluating the disinflation patterns seen in developed […]

Nigeria's inflation will fall to 21% in 2024 - Cardoso
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Nigeria’s inflation will fall to 21% in 2024 – Cardoso

Despite rising food and commodity prices,  the governor of the Central Bank of Nigeria, Olayemi Cardoso, has guaranteed that Nigeria’s inflation rate will decline to 21.4% in 2024. Cardoso disclosed this to MPs during his briefing during the sectoral debate on the economy on Tuesday, February 6, 2024, in the House of Representatives. Cardoso bemoaned the […]

ESCAP urges urgent CBN MPC meeting to raise interest rates
Banking

ESCAP urges urgent CBN MPC meeting to raise interest rates

The director of ESCAP Management, Esili Eigbe urged Olayemi Cardoso, the governor of the Central Bank of Nigeria to convene an urgent Monetary Policy Committee (MPC) meeting in order to raise interest rates at the bank. He added that while the Central Bank’s reforms on the Forex market are a positive development, they were implemented later than necessary. Despite […]

Economy

Naira strengthens at official window, weakens on black market

The naira appreciated in the official window on Monday following a statement by the governor of the Central Bank of Nigeria, Olayemi Cardoso. According to The PUNCH, in the statement, he assured the public that the central bank was working to address the currency’s volatility. Based on information from the FMDQ, the local currency increased by […]

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