Tag Archives: CBN

How to revive the Cotton, Garment and Textile industry –Haggai CEO

  Mr. Paul Maduakor is the Chief Executive Officer of Haggai, an indigenous textile manufacturer base in Lagos has come out to appreciate the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele’s effort in revamping the Cotton, Garment and Textile (CGT) sector through inauguration of the Textile Revival and Implementation Committee (TRIC).   Haggai Sports Wear is the off – ...

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AG Moeller’s MD, Adeloye Oluwakemi Jailed 16 Yrs For Operating Financial Firm Without License

A Federal High Court, Lagos, today, convicted and sentence both AG Moeller Nigeria Limited and its Managing Director, Adeloye Olukemi, to 16 years imprisonment for operating financial business without a valid Central Bank of Nigera (CBN) licence. The court presided over by Justice Okon Eferiti Abang handed down the judgement after found both convicts guilty of all the charges brought ...

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Repatriated $8.1bn: Court Adjourns Further hearing in MTN, CBN Suit Over till Jan. 22

A Federal High Court, Lagos, today, adjourned till January 22, 2019, for report of settlement of the dispute between MTN Nigeria and the Central Bank of Nigeria (CBN) over the controversy surrounding the alleged repatriation of $8.1bn profits from Nigeria. At the resumed hearing of the matter today, the lead counsel for MTN Nigeria, Chief Wole Olanipekun, SAN, informed the ...

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Illegal Repatriation of $8.1bn: Court Fixes  Dec. 4 for Hearing of MTN’s Suit Against FG, CBN

 A Federal High Court, Lagos, today fixed November 4, 2018, for hearing of the preliminary objection filed by the Central Bank of Nigeria (CBN) and other pending applications in a suit filed by MTN Communications Limited against the apex bank and Attorney-General of the Federation (AGF) over the illegal remittance of $8,134,312,397.63 . At the resumed hearing of the matter today, Chief ...

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Forex: Naira Lifted with $210m CBN Injection

To strengthen the Naira, the Central Bank of Nigeria (CBN) has injected the sum of $210million, to meet customers requests in various segments of the foreign exchange market. The CBN, in its quest to meet customers needs in the various segments of the market offered $100million to authorized dealers in the wholesale segment of the market, while the Small and ...

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CBN Injects $340m, CNY 69m into Retail SMIS

Following last weeks take-off of its intervention in the sale of foreign exchange in Chinese Yuan (CNY), the Central Bank of Nigeria (CBN), on Friday, July 27, 2018, injected the sum $340, 507, 376.51 into the interbank retail Secondary Market Intervention Sales. This is in addition to the sale of CNY 69,858,087.15 in the spot and short tenored forwards. The ...

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