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The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. [3] The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort ...
Olayemi Michael "Yemi" Cardoso (born 10 July 1957) is a Nigerian banker who is the governor of the Central Bank of Nigeria. [2] He previously served as the Commissioner for Economic Planning and Budget of the Lagos State Government.
Godwin Emefiele was born in present day Lagos State, Nigeria on 4 August 1961. He is a native of Agbor, Delta State, Nigeria. He attended Ansarudin Primary School and Maryland Comprehensive Secondary both in Lagos, before proceeding to the University of Nigeria Nsukka (UNN) for his tertiary education. He obtained a Bachelor’s Degree in ...
The Central Bank of Nigeria (CBN) considers abuse of the naira a serious offense, as it can lead to a shortage of currency in circulation, increased costs for printing and replacing damaged notes, and a loss of confidence in the currency. The CBN has implemented measures to prevent the abuse of the naira, including:
Philip Chukwuemeka Ikeazor is a Nigerian banker who has served as the Deputy Governor for Financial System Stability at the Central Bank of Nigeria. [1] [2]He was appointed by President Ahmed Bola Tinubu on 15 September 2023, [3] [4] and confirmed by the Nigerian Senate on the 26th of September, 2023.
The Central Bank of Nigeria claimed that they attempted to control the annual inflation rate below 10%. In 2011, the CBN increased key interest rate six times, rising from 6.25% to 12%. On 31 January 2012, the CBN decided to maintain the key interest rate at 12%, in order to reduce the impact of inflation due to a reduction in fuel subsidies. [14]
eNaira is a Central bank digital currency issued and regulated by the Central Bank of Nigeria. [1] It was the first of its type in Africa. [2] Denominated in naira, the eNaira serves as both a medium of exchange and a store of value and claims to offer better payment prospects in retail transactions when compared to cash.
Adebayo Adelabu Listen ⓘ (born September 28, 1970) is a former deputy governor, operations of the Central Bank of Nigeria and currently serving as the federal minister of power of Nigeria. He was also an Oyo State gubernatorial candidate for the All Progressives Congress in 2019.