Nigerian Finance Minister Ngozi Okonjo-Iweala said an independent auditor should examine the country’s oil accounts clear up allegations that the state petroleum company hasn’t accounted for all its revenue. “The best way to get to the truth and reassure Nigerians who have been expressing strong opinions on the issue would […]
Tag: Central Bank of Nigeria
CBN may withdraw all govt funds from banks
In a bid to reduce pressure on the naira and maintain macro-economic stability, the Central Bank of Nigeria’s Monetary Policy Committee may increase the Cash Reserve Requirement of public sector funds in the vaults of banks to 100 per cent from the current75 per cent. The implication of this is […]
CBN, Banks Plan 100% CRR To Stabilise Naira
The Bankers Committee and the Central Bank of Nigeria (CBN) have agreed to go nationwide with the cashless policy as well as move the cash reserve ratio (CRR) on public sector deposits to 100 per cent if the foreign reserves weaken and there was not enough dollars to defend the […]
