The cheque truncation policy of the Central Bank of Nigeria commenced penultimate Friday, with the Lagos Clearing House serving as the pilot zone. ADEMOLA ALAWIYE examines the feasibility of the scheme. As part of efforts to revamp the national payments system, the Central Bank of Nigeria, in August, 2007, inaugurated […]
Tag: Central Bank of Nigeria
Nigeria’s Inflation Drops to 12.8% in July 2012-Report
The National Bureau of Statistics (NBS) today reported Nigeria’s July headline inflation at 12.8% year-on-year (y-o-y), down by 10bps from 12.9% recorded in June 2012. In contrast, food inflation rose by 10bps to 12.1% from 12.0%. Core inflation (measured by All Items Less Farm Produce (Index) however dropped to 15.0% […]
Six banks may not divest from insurance companies
Some banks that have substantial stakes in insurance companies have commenced moves to get the approval of the Central Bank of Nigeria to hold onto their group holding licences. Last year, the CBN suspended the universal banking regime and ordered Deposit Money Banks to divest from all non-banking operations. While […]
