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CBN Gov, #Emefiele restates commitment of Central Bank of Nigeria to support household, businesses, other stakeholders to cushion economic impact of corona virus #CBNResponsetoCOVID19 #COVID19
CBN grants one-year moratorium on all principal repayments on all CBN intervention facilities #CBNResponsetoCOVID19 #COVID19Nigeria
CBN directs participating financial institutions to provide new amortization schedule for all beneficiaries of CBN intervention facilities #CBNResponsetoCOVID19 #COVID19Nigeria
CBN Gov, #Emefiele announces reduction of interest rates on all applicable CBN intervention facilities from 9% to 5% per annum with effect from March 1, 2020 #CBNResponsetoCOVID19 #COVID19Nigeria
CBN creates targeted credit facility through NIRSAL Microfinance Bank for households and small and medium-sized enterprises (SMEs) hit by COVID19 #CBNResponsetoCOVID19 #COVID19Nigeria
CBN announces intervention loans to pharmaceutical companies planning to expand or open drug manufacturing plants in Nigeria #CBNResponsetoCOVID19 #COVID19Nigeria
CBN okays intervention facilities to hospitals and healthcare practitioners who plan to build health facilities or expand existing facilities to first class centres #CBNResponsetoCOVID19 #COVID19Nigeria
#CBN grants Deposit Money Banks (DMBs) leave to consider temporary and time-limited restructuring of tenor and loan terms for businesses in oil and gas, agriculture, manufacturing and households affected by outbreak of COVID-19 #CBNResponsetoCOVID19 #COVID19
#CBN Gov, #Emefiele pledges CBN support for industry funding levels to maintain capacity of DMBs to direct credit to individuals #CBNResponsetoCOVID19 #COVID19Nigeria
#Emefiele urges DMBs to continue to build capital buffers to improve resilience of the sector #CBNResponsetoCOVID19 #COVID19Nigeria
The CBN stands ready to provide liquidity backstops as and when required in view of its role as Banker to the Federal Government and lender of last resort” - #Emefiele #CBNResponsetoCOVID19 #COVID19Nigeria
#CBN to issue further updates on Bank’s response to economic impact of corona virus. #CBNResponsetoCOVID19 #COVID19Nigeria
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#Emefiele #CBNResponsetoCOVID19 #COVID19 #COVID19Nigeria #CBN

More from @cenbank see all

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Central Bank of Nigeria
@cenbank
A Thread
To guard against excess, unapproved or arbitrary charges by banks and other financial institutions, the Guide to Bank Charges stipulates a penalty of N2,000,000 per infraction
or as may be determined by the #CBN from time to time for financial institutions that breach any provision of the guide.
The guide also emphasizes that failure by any bank to comply with CBN’s directive in respect of any infraction shall attract a further penalty of N2,000,000 daily
Read 7 tweets
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Central Bank of Nigeria
@cenbank
A Thread
In a bid to encourage financial inclusion and to reduce the burden of bank charges on consumers of financial service
#CBN has issued a revised Guide to Charges by Banks, Other Financial and Non-Bank Financial institutions in response to the evolution in the financial industry over the last few years.
#CBN new guide includes, amongst others; downward review of charges for electronic banking transactions.
Review of other bank charges to align with market developments
Read 6 tweets

Related threads

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Mohammed Kamaldeen.O
@Camardean
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN),says the nation’s land borders will remain closed until neighbouring countries meet the requirements for it to be reopened.

Emefiele said this on Monday while speaking to journalists after a meeting with President
Muhammadu Buhari in Abuja.
The federal government had closed the country’s land borders to importing and exporting of all items in a bid to curb illegal trading activities by Nigeria’s neighbours.
Hameed Ali, comptroller-general of the Nigeria Customs Service (NCS),had said that
Nigeria’s borders will remain closed until the country and its neighbours agree on existing ECOWAS protocol on movement.

Despite several calls by stakeholders for the re-opening of the borders, Emefiele said the affected countries must first have “concrete engagements” on mutual
Read 16 tweets
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Fed Min of Info & Cu
@FMICNigeria
Happening Now: HMIC Alh. Lai Mohammed in a media engagement with Culture and Tourism correspondents in Lagos to share information by unveiling his plans for #CultureandTourism for the Next four years.
TEXT OF THE SPEECH BY THE HON. MINISTER OF INFORMATION AND CULTURE, ALHAJI LAI MOHAMMED, DURING MEETING WITH TRAVEL JOURNALISTS/ARTS AND CULTURE WRITERS ASSOCIATION OF NIGERIA IN LAGOS ON SUNDAY, 6 OCT 2019

#Thread 👇
Good afternoon gentlemen. I am delighted to be here, and to meet with you again. I have called this meeting to enable us rub minds on how to move the Tourism and Culture Sector forward.
Read 48 tweets
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Presidency Nigeria
@NGRPresident
OFFICE OF THE VICE PRESIDENT
PRESS RELEASE

@NigeriaGov SETS UP INTER-AGENCY TASK FORCE ON 5 TRILLION NAIRA AMCON DEBT RECOVERY

#Thread
.@NigeriaGov has taken another determined step in its bid to recover over N5 Trillion outstanding debts owed the Asset Management Corporation of Nigeria (AMCON), with the formal inauguration of an inter-agency Committee to speedily resolve the challenges in recovering the debts.
Vice President @ProfOsinbajo inaugurated the Committee on Monday at the Presidential Villa, Abuja, tasking its members to turn the tide in what has been a rather difficult process where debtors have continued to default in their payment obligations.
Read 11 tweets
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tolu ogunlesi
@toluogunlesi
So the Q4 2018 GDP results released yesterday show the strongest economic performance since #Nigeria emerged from recession.
#Highlights
"39 out of 46 economic activities now growing. Agriculture is growing; Manufacturing is growing, and Services has recorded its best performance in 11 Quarters." - Udoma Udo Udoma
"Particularly notable is the fact that the growth is driven by the non-oil sector which has recorded its strongest growth since the fourth quarter of 2015. In short, we have turned the corner and are now firmly on the path of growth." - Udoma Udo Udoma
Read 19 tweets
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Fed Min of Agric/RD
@FmardNg
Hon. Minister, @AuduOgbeh yesterday appeared on the programme "Good Morning Nigeria" on NTA to talk about some of the achievements in the agricultural sector under President @MBuhari's administration and the outlook for 2019. Here are some highlights of the conversation. #Thread
1. On local production of fertilizer:

We are blending our own fertilizer especially the NPK. The number of blending plants in Nigeria rose from 12 to 27. We now have more fertilizer than we consume, with a surplus of nearly 400,000 tonnes in the warehouses - @AuduOgbeh
2. Bank of Agriculture/Access to credit:

We are strengthening the Bank of Agriculture with the ultimate aim of bringing the interest rate in agriculture to 5% and targeting a capital base of N250billion. - @AuduOgbeh
Read 9 tweets
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tolu ogunlesi
@toluogunlesi
.@cenbank Governor Emefiele: "Based on our internal research conducted at the Central Bank of Nigeria, there's strong support that the recovery of our economy from the recession may have been much weaker or even negative without the implementation of the restriction on 41 items."
CBN Gov: "Activities in the manufacturing sector also witnessed significant improvement between August 2016 and August 2018, as the Primary Manufacturing Index rose from a low of 42 per cent in August 2016 to 57 per cent in August 2018."
CBN Gov: "The CBN and PEBEC worked together to improve access to credit for under-served Nigerians, through the set-up of a National Collateral Registry and the passage of the Credit Bureau Act."
Read 19 tweets

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