Nigeria
Nigerian central bank tackles money laundering
NIGERIA - As the war on money laundering intensifies in Nigeria, the Central Bank of Nigeria has given local banks until the end of September to clean up their acts or face severe sanctions.
Nigerian central bank tackles money laundering
NIGERIA - As the war on money laundering intensifies in Nigeria, the Central Bank of Nigeria has given local banks until the end of September to clean up their acts or face severe sanctions.
Nigerian central bank tackles money laundering
NIGERIA - As the war on money laundering intensifies in Nigeria, the Central Bank of Nigeria has given local banks until the end of September to clean up their acts or face severe sanctions, reports Business Day.
African regional currency may take off in 2004
NIGERIA - The proposed West African Monetary Zone that would pave room for a single currency for the sub-region may take-off in 2004, Information and National Orientation Minister, Professor Jerry Gana disclosed in Abuja Thursday.
Theft from Nigerian central bank van denied
NIGERIA - A middle-aged man, Mustapha Abubakar, has appeared before an Upper Sharia Court, Sokoto for allegedly removing bank notes from a Central Bank of Nigeria armoured van. However, in his defence the man said in court he was inside the van only to…
Nigerian c bank tighten licensing law of new banks
NIGERIA - The Central Bank of Nigeria (CBN) may have soft-pedalled on the licensing of new banks which was put on hold almost three months ago.
Dutch auction won't depreciate Naira, says CBN
NIGERIA - The Central Bank of Nigeria (CBN) has said that contrary to speculation, the newly introduced Dutch Auction System (DAS) in the nation's foreign exchange market would not lead to the depreciation of the naira.
Central Bank of Nigeria - Annual Report 2001
ANNUAL REPORT - The Central Bank of Nigeria has published its Annual Report for the year ended 2001.
Nigerian cb under investigation for fraud
NIGERIA - The Central Bank of Nigeria is under investigation for all the cases of fraud, corruption and mismanagement levelled against it and the banking system following an order by the House of Representatives.
Nigerian budget will hurt economy - Central bank
NIGERIA - The Central Bank of Nigeria (CBN) said Wednesday the country's 2002 budget would hurt the economy if it were implemented as it was passed by parliament.
Abachas reported to return $1bn to Nigeria
UK - The family of Sani Abacha, Nigeria's former dictator, has agreed to return $1bn ( £600m) in funds looted from the country's central bank in return for the dropping of theft and money laundering charges against Abacha's son and one of Abacha's…
Nigeria's c bank urged to review monetary policy
NIGERIA - Central Bank of Nigeria and other regulatory authorities have been asked to reconsider their control strategies with the aim of striking a balance between exchange and interest rates policies in the overall interest of the productive sectors of…
Devaluation fears hit Nigeria's currency
NIGERIA - The Nigerian naira fell on the official currency market, following a slide on the black market on Friday on fears that a devaluation is imminent.
Nigeria's central bank raises rates
NIGERIA - The Central Bank of Nigeria has raised the interest rate at which it lends to commercial banks by 2%, bucking the trend of globally coordinated rate cuts in the wake of the attacks on the US.
Nigeria c bank weans banks off govt loan addiction
NIGERIA - The Nigerian central bank's drive to discourage commercial bank lending to regional and local governments should control money supply and inflation but at the expense of bank profits, bankers and analysts said.
Central bank guidelines on credit extension
NIGERIA - The Central Bank of Nigeria (CBN) lived up to its billing in pursuit of its function of promoting monetary stability and a sound financial system when last week it rolled out a new guideline on public spending, reports All Africa Global Media,…
Nigerian bank begins reforms next week
NIGERIA - A restructuring exercise that will reposition the Central Bank of Nigeria (CBN) for greater efficiency will begin next week, 4 June.
Nigeria's cbank up banks' cash deposit to 40%
NIGERIA - Nigeria's Central Bank on Apr 19 announced it has raised the percentage of deposits that banks must now keep in cash to 40 percent from 35 percent.
Nigerian president, bankers meet on currency drop
NIGERIA - The naira currency resumed trading in Nigeria on Apr 12 following a two-day closure of the local forex market.
Nigeria's central bank devalues currency naira
NIGERIA - The Central Bank of Nigeria has devalued the country's currency naira by 1.8% following an unprecedented high demand for foreign exchange at the Interbank Foreign Exchange Market, Nigerian newspapers reported on Apr 11.
Expanded monetary union in West Africa
ARTICLE - In an article published in the IMF's quarterly magazine, IMF economists R.D. Asante and Paul Robert Masson talk with Jacqueline Irving of the IMF's external relations department about the pros and cons of expanded monetary union in West Africa.
UK banks at fault over Abacha money laundering-FSA
RESEARCH REPORT - The UK Financial Servicies Authority has concluded an investigation into UKbanks' financial dealings with the deposed Nigerian leader, General SaniAbacha. The report is strongly critical of control failures at 15 UK bankswhich laundered…
CBN Sanusi warns against repeating past mistakes
Nigeria's central bank governor, Joseph Sanusi, has warned against the growing clamour for a draw-down of the Excess Crude Reserve Account by state and local governments.
West African Monetary Institute gets officers
The Committee of Governors of the West African Monetary Institute (WAMI) has appointed four of the five senior officers to work with the Institute's Director-General, M.O. Ojo, a statement from the ECOWAS Secretariat said in Abuja on Feb 12. According to…