Tag: Sanusi Lamido

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 cashless policy to go nationwide June 30

The Bankers’ Committee, comprising top of officials of the Central Bank of Nigeria (CBN), led by its Governor- Lamido Sanusi, on Monday rose from its meeting with a resolve to cashless policy initiative, which is now across six states and Abuja, would become effective nationwide from June 30, 2014. The […]

Nigeria Banks at Risk From Corporate Governance Issues, S&P Says

Nigerian bank ratings are threatened by corporate governance issues and rapid loan growth as competition increases credit risk, said Standard & Poor’s. “We see a risk that the momentum behind regulatory improvements may slow after leadership changes at the central bank this year,” Samira Mensah, a Johannesburg-based credit analyst at […]