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  TMG, (Transition Monitoring Group) a coalition of civil society organizations, at the weekend, discribed the recent recruitment exercise conducted by the Central Bank of Nigeria (CBN) as shady, a grand betrayal of a change mantra of the Buhari’s administration The statement reads: “TMG is dismayed by recent revelations of outright cronyism and favouritism in a shady recruitment exercise conducted by the Central Bank of Nigeria (CBN). It is indeed very strange that impunity of this magnitude would be associated with the nation’s apex bank at a time Nigerians are hoping that the change mantra of the administration of President Muhammadu Buhari, would translate into better ethical standards for conducting government business. “TMG is not unmindful of the fact that this scandal is a clear manifestation that there remains within the system vestiges of the discredited and corrupt old guard, which would always be against a people centred philosophy of governance. For us, the recruit...

Sanusi Lamido Sanusi who was suspended by Mr President as CBN Governor,  was cut on camera for a first time interview after suspension.  Sanusi returned to Nigeria from Niger Republic, after attending an ECOWAS meeting. On his arrival at the Lagos International airport, the Nigerian SSS detained him and seized his passport.  Sahara Reporters was able to get an exclusive interview with the ousted CBN Governor.  Watch!

       President Goodluck Jonathan has appointed managing director of Zenith Bank,Mr Godwin Emefiele as the new governor of Central Bank.  Information reaching us say the president has forwarded Mr Emefiele’s name to the Senate for approval. k He is the Group Managing Director, Zenith Bank Plc, a position he has held since August 2010. Until then he was the Deputy Managing Director of the bank, having been appointed into that position in 2001.         Emefiele has been on the bank’s management team since inception and has held various management positions in the bank, including serving as the Bank’s Executive Director in charge of Corporate Banking, Treasury, Financial Control and Strategic Planning.  Until he took over as Group Managing Director, Emefiele was directly responsible for all the Group’s local subsidiaries, Treasury and Correspondent Banking, and Multilateral, Conglomerates, & Private Banking.  ...

Following the decision of the federal government to declare Boko Haram and its cohorts as enemies of the state and terrorists, the Central Bank of Nigeria (CBN) has asked banks in the country to fish out any bank accounts that are traceable to the group. In a circular sent to all the banks yesterday, the CBN asked banks to cross-check their database for the names “Jamaatu Ahis-Sunna Liddaawti Wal Jihad” which is otherwise known as Boko Haram as well as “Jama’atu Ansarul Muslimina Fi Biladis Sudan”. The circular, which was signed by the acting director, Financial Policy and Regulation Department of the CBN, Nwaoha I.T, said “the federal government of Nigeria in its effort to stem terrorism in the country has proscribed the activities of Jamaatu Ahis-Sunna Liddaawti Wal Jihad otherwise known as Boko Haram sect and Jama’atu Ansarul Muslimina Fi Biladis Sudan in any part of the country. Their activities are consequently declared as terrorism and illegal. “All banks and other finan...

While there are still skepticism  about the report by Premiuntimes Newspaper of "Sanusi Lamido, His CBN Mistress and Their Sweetheart Escapades " The Central Bank of Nigeria has sent a rebuttal to PREMIUM TIMES faulting the paper’s report  which accused its governor, Sanusi Lamido Sanusi, of abuse of office. The full statement by the bank’s director of corporate communication, Ugochukwu A. Okoroafor is published below. Okoroafar was contacted for comments before our first story was published. He did not revert despite a promise to do so. Read the full text of the CBN reaction below.      3rd June, 2013     The Ag. Managing Editor,     Premium Times     Our attention has been drawn to the libelous story posted on your website on 2nd June, 2013, on the Governor of the Central Bank of Nigeria (CBN), and which has now been circulated by other online websites and blogging groups.     The post...

CBN Governor, Sanusi Lamido Sanusi (left); Maryam Waisu Yaro (right) Who is behind this? and what prompted this story  by Premuimtimes ! still trying to guess, READ THROUGH AND GUESS "Twenty minutes to midnight on February 25, 2013, and a day before the board of the Central Bank of Nigeria was due to meet, Governor Sanusi Lamido Sanusi developed a craving for romance—he badly needed a kiss. The governor, married, with children, grabbed his mobile phone and typed out a message.  “Maybe you should come kiss me before board meeting tomorrow,” Mr. Sanusi wrote and then squeezed the send button. At about 9 a.m. the next day, Mrs. Maryam Yaro, a married mother of two, an assistant director and subordinate to the governor at the CBN, arrived Sanusi’s unnamed Abuja hotel, seeking to keep the date and help address her boss’ craving for a kiss.  (Insiders say board members, including those who live in Abuja, are usually lodged in hotels ahead of board meetings). But by the...

The Central Bank of Nigeria (CBN) has earlier said they will be switching back to paper Naira notes for some denominations. But this has generated a lot of controversial statements across the country, but CBN has reaffirmed it commitment in reversing the lower denominations to paper notes and these will not attract any additional cost. "The printing of lower denominations of naira notes in polymer -N5; N10; N20 and N50 - was introduced during the Prof. Chukwuma Soludo’s tenure as CBN governor. But the apex bank had last month hinted of plans to scrap the polymer notes because they fade easily, despite earlier experiments, which showed that the notes could last longer than paper notes. Critics of the planned action argued that the policy reversal with its attendant huge capital outlay would constitute a drain on the nation’s economy. Some of the issues thrown up by the CBN’s change of mind included what becomes of the initial investment in the polymer technology, considering t...

CBN is poised to stop the printing of small denomination Naira in polymer notes because they fade quickly. Its Deputy Governor, Mr Tunde Lemo, disclosed this in an interview with theNews Agency of Nigeria (NAN) on Sunday in Washington on the sideline of the ongoing Spring Meeting of the World Bank and the IMF.