HACAKER, ANONYMOUS HACKS CBN WEBSITE IN SOLIDARITY WITH #ENDSARS

The website of the Central Bank of Nigeria has been hacked by ‘Anonymous’, an online group known for attacking government establishments. Anonymous, which is widely known for its various cyberattacks against several government institutions, is believed to have taken the move in solidarity with the #EndSARS protesters. The website of Nigeria’s apex bank on Friday night displayed the message, “500 – Internal server error. There is a problem with the resource you are looking for, and it cannot be displayed.” Earlier, Anonymous had hacked the Twitter accounts of several government…

Read More

CBN SPENT 75BILLION NAIRA TO PRINT NAIRA IN 2019

•Deploys $3.95bn to BDCs, others •Discovers N365m deposit shortages in 21 banks CBN Governor, Mr Godwin Emefiele By Elizabeth Adegbesan THE Central Bank of Nigeria, CBN, said it spent N75 billion to print banknotes in 2019. This represents N11.5 billion or 18 percent increase when compared to N64 billion spent in 2018. The apex bank also deployed $3.95 billion to Bureaux De Change (BDCs) and pilgrim operations, as well as, payment of estacode and personal travel allowances to Ministries, Departments and Agencies (MDAs) during the period. Meanwhile, the CBN said…

Read More

COURT FREEZES 65 BANK ACCOUNTS FOR FOREX MANIPULATIONS, THE CHINESE CONNECTION

Court freezes 65 accounts for forex manipulation 14 firms’ accounts domicilled in 13 The Chinese connections  Eric Ikhilae, Abuja A COURT has granted the request by the Central bank of Nigeria (CBN) to freeze 65 Bank accounts linked to 12 firms and a man. They are suspected to be involved in the manipulation of the foreign exchange market. Justice Ahmed Mohammed of the Federal High Court, sitting in Abuja, gave the order while ruling on a motion ex-parte filed by CBN Governor Godwin Emefiele and argued by former Attorney-General of…

Read More

CBN RECEIVES 20 APPLICATIONS REQUESTING FOR 67 BIL TO PRODUCE CORONAVIRUS VACCINES

CBN Governor, Mr Godwin Emefiele The Central Bank of Nigeria (CBN), says it has received more than 20 applications requesting for N67 billion grants under its Healthcare Sector Research and Development Intervention Scheme (HSRDIS). The CBN Governor, Mr Godwin Emefiele disclosed this during the inauguration of the Body of Experts (BoE) for Scheme in Abuja on Monday. Emefiele explained that the programme was designed to increase the nation’s Research and Development activities that would help support the development of Nigeria made vaccines, drugs and herbal medicines. He said through the…

Read More

BANKS IN TROUBLE, BESIEGE CBN FOR LOANS AS CASH FLOW PROBLEMS CONTINUE

Urowayino Jeremiah CBN Interbank money market liquidity falls 95% Naira depreciates to N459/$ in parallel market By Babajide Komolafe The interbank money market has been gripped with intense scarcity of funds as amount of idle cash (liquidity) in the market fell by 95 percent, prompting banks to besiege    the Standing Lending Facility, SLF, of the Central Bank of Nigeria (CBN) for short term cash needs. Financial Vanguard  investigations revealed that the level of liquidity in the interbank money market fell to N30.9 billion at the close of business on…

Read More

SENATE QUERIES CBN OVER 3.3BIL DOLLARS COLLECTED BUT NOT REMITTED FOREIGN TAX

Sunday Aborisade, Abuja The Senate has queried the Central Bank of Nigeria over alleged unremitted $3.3bn from the $21.3bn collected by the Federal Inland Revenue Service as foreign tax in 2015. The Public Accounts Committee of the red chamber issued the query after its meeting on Wednesday. The Senate panel said it acted on an audit query raised against the CBN by the Office of the Auditor General for the Federation. Quoting the audit query, the panel said while the FIRS recorded $21.3bn as the total sum of foreign tax…

Read More

CBN GIVES BANKS 2 WEEKS TO CLEAR BACKLOG OF TRANSACTIONS

 Uche Usim, Abuja To deepen its cashless policy, the Central Bank of Nigeria (CBN) has directed all banks to resolve backlog of all ATM, POS and Web customer refunds within two weeks starting June 8, 2020. The directive was contained in a statement signed by the apex bank’s Spokesman, Isaac Okorafor, which revealed the   revised timelines for dispensing errors and refund complaints. Okorafor said the move was a fallout of its determination to further enhance service quality, particularly quick refunds when customers experience failed transactions, dispense errors or disputes on…

Read More

CBN, NNPC AGREE TO OFFSET FEEDING AND ACCOMMODATION OF RETURNEE NIGERIANS – FOREIGN AFFAIRS MINISTER

The Federal Government has said the Central Bank of Nigeria and the Nigerian National Petroleum Corporation have agreed to shoulder the cost of accommodation and feeding of evacuees during their 14-day compulsory quarantine. Minister of Foreign Affairs, Geoffrey Onyeama, made this known on Monday during the briefing of the Presidential Task Force on COVID-19. He said the gesture was made possible by the co-operation of the CBN Governor, Godwin Emefiele, and the NNPC GMD, Mele Kyari. The minister explained that the MFA had imposed advance payment of feeding and hotel…

Read More

IMF TRANSFERS 3.4BIL DOLLARS APPROVED LOAN TO CBN ACCOUNT AS FG MULLS PEGGING BUDGET TO 20DOLLARS PER BARREL

Nduka Chiejina, Abuja  and  Collins Nweze, Lagos     BARELY 24 hours after receiving $311 million Abacha loot from the United States and the Island of Jersey, the Federal Government has been handed the $3.4 billion emergency fund it requested from the International Monetary Fund(IMF). The emergency fund which was approved by the IMF Board on April 28, comes under the Rapid Financing Instrument (RFI). It is meant  to assist Nigeria’s fight against COVID-19 and to resolve urgent balance of payment needs. In spite of the dollar  flow,  government has projected…

Read More

CORONAVIRUS SUPPORT FUND NOW 15BIL- CBN

The Central Bank of Nigeria (CBN) on Wednesday said that monetary contributions to its relief fund under the auspices of Private Sector Coalition Against COVID-19 (CACOVID) stood at N15 billion. CBN’s Director of Corporate Communications, Isaac Okorafor, said in a statement in Lagos that the donations were from 37 donors, including individuals, banks and other corporate bodies. “A breakdown of the contributions showed that CBN and Aliko Dangote donated N2 billion each. “Abdul Samad Rabiu (Bua Sugar Refinery), Segun Agbaje (GTB); Tony Elumelu (UBA); Oba Otudeko (First Bank); Jim Ovia…

Read More