Business 4 Nigeria

23/03/2022

The CBN has stepped in to invest $250m to stabilise power delivery nationwide. After realising poor governance systems, lack of monitoring & accountability and weak setup of the market were all behind the financial issues in the sector. Foresight and investment is needed to improve infrastructure across Nigeria to allow our people to fulfil their potential. PLEASE MEFFY, STEP FORWARD!

Emmanuel Addeh The intervention of the Central Bank of Nigeria (CBN), in the rehabilitation of interfaces between Nigeria’s transmission and distribution infrastructure to the tune of of $250 mill…

14/03/2022

As part of the CBN's plan to achieve $200bn in FX earnings, manufacturing has been a key recipient of funding available through the Real Sector Support Facility (RSSF), to update equipment, improve plants and invest in brownfield sites. All this support will increase our exports for sustainable economic development. MEFFY: RUN FOR PRESIDENT!
https://thenationonlineng.net/exports-to-rise-as-manufacturers-get-more-funding-for-expansion/

Manufacturers are at the centre of the ongoing fund disbursements by the Central Bank of Nigeria (CBN) to real sectors operators...

10/03/2022

Careful handling of the economy with Emefiele at the helm of the CBN has resulted in a resilient banking sector. Sound regulatory oversight, including dropping interest rates to 5%, has brought non-performing loans under the regulatory benchmark for the first time in 10 years, and this alongside significant growth in credit to manufacturing and general commerce is all positive news for Nigeria. MEFFY, PLEASE STEP FORWARD!


https://www.thisdaylive.com/index.php/2022/03/09/cbns-push-for-private-sector-credit/

With non-performing loans in the banking sector dropping below regulatory benchmark, Nume Ekeghe writes on the fiscal strategies adopted by the Central Bank to sustain the policies that spurred cre…

07/03/2022

Emefiele heaped praise on the farmers of Nigeria this weekend. However, without initiatives like the Anchor Borrowers' Programme, which has enabled us to cultivate more land, increase our yield and bridge the self-sufficiency gap, Nigerians would be suffering terribly with the global rising cost of food. Emefiele understands what is needed to make Nigeria great. MEFFY MUST RUN!

 James Emejo in Abuja *Hails strides in maize, cassava production Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, says agriculture remains a strong pillar and saving grace for …

03/03/2022

The CBN's Emefiele has shown his business prowess with the release of guidelines for the R200 policy. Designed to ensure a stable flow of FX into Nigeria & protect the economy from shocks & shortages, all exporters must register to qualify for export rebates. He is the safe pair of hands we want running our country. MEFFY PLEASE RUN!

The CBN says exporters will qualify for the rebates only when export proceeds are sold at the Investors’ and Exporters’ Window.

02/03/2022

Emefiele wins 'Man of the Year'!
MoneyReport Magazine recognized the CBN Governor for the plethora of activities, innovations and interventions he has introduced and the unprecedented level of economic stability he has achieved. Despite COVID 19 and other monetary challenges. This is the man we want leading our country. Let's pray Meffy will run!
https://www.thisdaylive.com/index.php/2022/03/02/moneyreport-names-emefiele-man-of-the-year-2021/

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has been named as the ‘Man of the Year’ 2021 by the MONEYReport Magazine, a continental business and economy publication based in Lag…

01/03/2022

The CBN's $200 billion non-oil exports target is on track after Fidelity Bank reaffirmed its commitment to the policy. Under Governor Godwin Emefiele the CBN aims to achieve this within the next five years! WE NEED MEFFY FOR PRESIDENT!


https://thenationonlineng.net/fidelity-bank-backs-cbns-200b-non-oil-exports-target-policy/

Fidelity Bank Plc has reaffirmed its commitment to support the Central Bank of Nigeria’s (CBN) efforts to achieve its goal of $200...

28/02/2022

Three trillion Naira worth of interventions by the CBN succeeded in bringing the country out of recession, and is now tackling food security, creating employment and improving Nigeria's productivity. If Godwin Emefiele can achieve all this as Governor of the CBN, just imagine what he could do as President! We the people need Emefiele to join the race.

23/02/2022

To have leaders that understand the importance of business to the prospects of Nigeria is a privilege. The 100 by 100 programme introduced by the CBN is exactly this, with N23.2bn being disbursed so far into our enterprises to allow them to flourish. This is the future we need for our country.
https://businessday.ng/banking/article/how-seven-banks-disburse-n23-2bn-under-cbns-100-for-100-scheme/

An update published on the website of the Central Bank of Nigeria (CBN) indicated that seven Deposit Money Banks (DMBs) disbursed a total of N23.2 billion

21/02/2022

Nigeria’s Gross Domestic Product (GDP) grew by 3.4% t in 2021, financial and insurance subsectors hit a new annual growth of 10.07% at the end of last year. Finance experts attributed the growth in financial and insurance subsector to numerous policies by the federal government-driven by Central Bank of Nigeria under the leadership of Godwin Emefiele.

Kayode Tokede As Nigeria’s Gross Domestic Product (GDP) grew by 3.4 per cent in 2021, financial and insurance subsectors hit a new annual growth of 10.07 per cent at the end of last year, data rele…

18/02/2022

3,4% Growth in GDP last year, so what?

Every now and then we are subjugated to some statistician’s attempt to prop up the our failed political class. These people either don’t live here, or they do math with their eyes closed. Come on people - look around you!

While CBN programs managed to lift out many people out of poverty and provide them with the opportunity to work and take care of their families, our politicians are pretty much missing in action! Our ruling class decided they don’t have to do anything for us anymore. We need to let dedicated technocrats such as Emefiele work without incessant political interference.

Nigeria recorded an annual Gross Domestic Product, GDP, growth of 3.4 per cent in 2021, representing the first annual growth since the ...

18/02/2022

Drivers urged not to panic buy petrol:
Following the embarrassing oil shortages in Nigeria this week, the NNPC have been forced to apologise to consumers for importing sub-standard fuel. Despite reassuring the country that supply would be restored by next week, it is clear that further investigations must take place to find out how methanol blended fuel could have got through standard checks and ensure it will not happen again.

However many believe the only way to ensure this is to stop importing oil. This has been made a real possibility with the new refineries set to reopen in 2023, such as Dangote refinery co-financed by CBN and spearheaded by Governor Emefiele.

15/02/2022

During a keynote speech, Mr Emefiele has explained the measures that must be taken by the government to tackle hunger and unemployment in the country. Telling the audience that food security and job creation are fundamental building blocks in ensuring macro-economic stability, which is a cardinal mandate for central banks.

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has given some of the steps that must be taken by the government to reduce the level of

11/02/2022

CBN is pushing the economy forwards to 2025 and beyond

There is not a single economy on the planet that has not been affected by the pandemic, but with the right leadership and policies Nigeria is set to propel its economy with a raft of measures as announced yesterday including the RT200 Programme. The repatriation of $200billion from non-oil exports in the next 3-5 years. The key points of the programme are:

▪ Value-Adding Exports Facility
▪ Non-Oil Commodities Expansion Facility
▪ Non-Oil FX Rebate Scheme
▪ Dedicated Non-Oil Export Terminal
▪ Biannual Non-Oil Export Summit

https://www.arise.tv/cbn-eyes-200bn-from-fresh-non-oil-exports/

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Thursday announced a new programme to stimulate the country’s non-oil exports and achieve $200 billion repatriation of pro…

09/02/2022

Following an upward trajectory of confidence in our economy, our startups have raised over $1.25 billion of funding in 2021. 🤯. The number of deals increased by 152% compared to 2020. What does this mean? Investors are trusting our economy and the policies of the CBN as a platform to grow their money.
What factors do you think will help raise this number is 2022?

07/02/2022

Governor of the CBN Godwin Emefeile has introduced a number of important initiatives to achieve employment, price stability, moderate inflation and economic growth, many of which were implemented during 2021, despite battling epidemic effects.

The extension of interest rate reductions on CBN facilities, a N4 trillion investment in the agricultural sector, the 100 for 100 Policy, the establishment of the "Naira 4 Dollar Scheme", the acceptance of the NAFEX rate as the interbank benchmark rate, and the introduction of the e-Naira being just a few examples.

Under Emefeile's leadership the CBN has spent over N4 trillion on agriculture, early last year the CBN launched the country's first ever rain-fed-wheat program. This scheme will assist over 150,000 farmers, with the aim of reducing wheat imports by 60% and saving $2 billion a year. In addition the CBN has earmarked N5.7 billion for loans for 10,000 farmers in Bauchi State to support dry season wheat farming, 4,500 farmers have so far benefitted. There is also the Anchor Borrowers' Program (ABP) under which the CBN disbursed N43.19 billion between September and October 2021, to support the cultivation of 250,000 hectares of maize, sorghum, soya beans and rice. As well as a N5.88 billion project to finance six large-scale agricultural projects through the commercial agri-business scheme.

Rice has long been a major concern for the CBN, and a new ultra-modern 420 mt per day capacity, rice milling factory in Kano State is a big step towards self sufficiency for the country.

The 100 for 100 Policy on Production and Productivity (PPP), launched in October 2021 will provide financial support to 100 designated private sector enterprizes every 100 days. The ultimate goal of the policy is to reverse the nation's reliance on imports.

The CBN launched eNaira, the country's first digital currency in October 2021, and in less than two weeks it had achieved N46.3 million in transactions.

Do you agree with Governor Emefeile's approach to the economy? Like to agree or comment below what you would do differently.

03/02/2022

Always decked in his simply-tailored suit with its signature “green” tie, the picture of the governor of Central Bank of Nigeria (CBN), Chief Godwin Emefiele, has in the last six years, become a symbol of national prosperity across the six geopolitical zones of the country.

Always decked in his simply-tailored suit with its signature “green” tie, the picture of the governor of Central Bank of Nigeria (CBN), Chief Godwin

02/02/2022

Before oil our major source of foreign exchange earnings was from cocoa production. We were the second largest producer in the world. We have the climate, we have the land, we have the talent. What we need is the right leadership. Our rice farmers are benefitting from Emefiele’s direction now we need him to lead on Cocoa

01/02/2022

“With the significant opportunities in the real sector, there remained sufficient room for additional investments in the various sub-sectors and I would like to urge potential investors to take advantage of the various CBN intervention programmes and schemes, as well as other financing options out there, to invest in key sectors of our economy given the potential gains that could be generated from them.”
-Mr. Godwin Emefiele

•Emefiele: New FX policy underway •FG, stakeholders laud apex bank’s drive to boost economy James Emejo The Central Bank of Nigeria (CBN) has disbursed a total of N23.20 billion to 28 companies who…

27/01/2022

Inflation will drop in 2022 - Emefiele, CBN Governor

The monetary policy committee of the Central Bank of Nigeria (CBN) has voted to retain the monetary policy rate (MPR), which measures interest rate, at 11.5 percent. The monetary policy

26/01/2022

What you should know about PAPSS:

1️⃣ PAPSS is a cross-border financial market infrastructure that permits payment transactions across Africa, breaking down trade obstacles in a continent with over 41 recognized currencies.

2️⃣ The Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele has stated that financial institutions under its authority will accept and recommend the Pan-African Payment and Settlement System (PAPSS) to businesses across the country.

3️⃣ With the introduction of the Pan-African Payment and Settlement System (PAPSS), Nigerians will no longer need dollars for intra-African trade. Consequently, intra-Africa traden could reach $300 billion by 2025.

More: https://nairametrics.com/2022/01/25/with-papss-nigerians-will-no-longer-need-dollars-for-intra-african-trade-akinwuntan/

Consumers don’t need to look for an international bank, as PAPSS will work in Africa, the same way NIBSS works in Nigeria.

26/01/2022

CBN steers a steady course.

Analysts at InvestmentOne Research said: “In our view, we posit that the committee’s decision to leave all key parameters unchanged is reasonable as hiking rates would impede the recovery we have seen in the economy while loosening rates might worsen inflationary pressures and exacerbate capital flows."



More: https://www.thisdaylive.com/index.php/2022/01/26/stock-market-rebounds-as-cbn-maintains-status-quo-on-rates/

Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) gained N6 billion, even as Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) maintained status quo on its ra…

24/01/2022

Central banks in some of Africa’s biggest economies will likely look past high inflation and U.S. policy tightening and hold interest rates over the coming weeks to shore up their recoveries from the Covid-19 stasis.

20/01/2022

One hundred and six civil society organisations under the auspices of the Coalition of Civil Society Groups, (CCSG) have hailed the Governor of Central Bank of Nigeria, Godwin Emefiele, for launching rice pyramids in Abuja.

From Okwe Obi, Abuja One hundred and six civil society organisations under the auspices of the Coalition of Civil Society Groups, (CCSG) have hailed President Muhammadu Buhari and the Governor of Central Bank of Nigeria, Godwin Emefiele, for launching rice pyramids in Abuja. CCSG President, Bassey E...

19/01/2022

The CBN’s Anchor Borrowers’ Programme (ABP) was started in November 2015 to provide aid to farmers and influence the value chain of various commodities in Nigeria. The CBN has carried out interventions aimed at sustaining recovery of output growth and addressing the downside risks to other external and domestic shocks to the economy.

The Central Bank of Nigeria (CBN) has stated that its intervention in the Nigerian agricultural sector has led to the massive reduction in imported rice from Thailand from 2014 when Thailand exported 1.3 million metric tons of rice to Nigeria to just 58,000 metric tons at the end of 2021. This was d...

18/01/2022

The World Bank has forecasted that Nigeria’s economy is expected to grow by 2.5% in 2022 and 2.8% by 2023.

The World Bank has forecasted that Nigeria’s economy is expected to grow by 2.5% in 2022 and 2.8% by 2023. This was disclosed by the World Bank in its Global Economic Prospects report this week. The World Bank also stated that Global growth is expected to decelerate from 5.5% in 2021 to 4.1% in 20...

17/01/2022

Godwin Emefiele, Governor of the Central Bank of Nigeria, CBN, says the pan-African payment and settlement system, PAPSS, will simplify cross-border transactions and reduce third currencies for intra-African trade.

Godwin Emefiele, Governor of the Central Bank of Nigeria, CBN, says the pan-African payment and settlement system, PAPSS, will simplify cross-border transactions and reduce third currencies for intra-African trade.

13/01/2022

Mr. Godwin Emefiele announced the Central Bank of Nigeria (CBN) will improve access to finance and credit for households, small and medium-sized enterprises (SMEs) in 2022.

CBN will improve access to finance, credit for households, SMEs in 2022 – Emefiele — Global Times Nigeria

12/01/2022

APEX bank giving Nigerians easy access to Forex. Introducing electronic application for foreign exchange will help ease access to forex for travelers, operators of SMEs, those paying school fees, health bills and others that need the greenback for genuine transactions.

The introduction of electronic application for foreign exchange is expected to simplify the process of accessing the greenback, writes D**e Onwuamaeze The recently introduced electronic application…

11/01/2022

THE Central Bank of Nigeria (CBN), said Nigeria’s economy is on recovery path but the growth is still fragile and below potential....

https://www.vanguardngr.com/2021/12/economy-steadily-recovering-but-growth-still-fragile-cbn/

THE Central Bank of Nigeria, CBN, Tuesday, said Nigeria’s economy is on recovery path but the growth is still fragile and below potential