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In major policy shift, CBN cancels N2.3 trillion forex sales to BDCs

Economists and financial experts interviewed by
Daily Trust expressed mixed feelings about the new policy and its immediate and long term implications.
They predicted a shock that will further shot up the dollar rates at the parallel market, which will stabilise in the long run. They also blamed the CBN for the downside of the expunged practice.
Emefiele also said the CBN will no longer continue registration of new BDCs as subsequent forex will be channelled through commercial banks.
The CBN governor said as part of the new forex sales policy, all commercial bank branches will create a separate desk for the purpose. ....

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CBN Releases $200m to Banks to Quell FX Speculation

CBN Releases $200m to Banks to Quell FX Speculation
thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.

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CBN releases N756bn to over 3m farmers to boost food security |

CBN releases N756bn to over 3m farmers to boost food security |
naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.

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CBN disburses N83.9b loans to pharmaceutical companies

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The Central Bank of Nigeria (CBN) has disbursed N83.9 billion loans to pharmaceutical companies and healthcare practitioners supporting 26 pharmaceutical and 56 medical projects across the country.
CBN Governor, Godwin Emefiele, who broke the news over the weekend at the Movie Premiere of “Unmasked” held in Lagos, said the fund disbursement was part of the apex bank’s commitment to seeing improved healthcare funding in the country in the face of the Covid-19 pandemic.
Emefiele, who was represented by CBN Acting Director, Corporate Communications, Osita Nwanisobi, said the apex bank was also able to mobilise key stakeholders in the Nigerian economy through the Coalition Against Covid-19 (CACOVID) alliance, which led to the provision of over N25 billion in relief materials to affected households, and the set-up of 39 isolation centres across the country. ....

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CBN Disburses N83bn Loans to Healthcare Sector

Nume Ekeghe
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday, said the central bank had disbursed over N83.9 billion to pharmaceutical and healthcare practitioners in the country since the outbreak of the COVID-19 pandemic in the country.
Also, Lagos State Governor, Mr. Babajide Sanwo-Olu, has stressed the need for a slash in the cost of governance in the country, saying a lot more resources could be dedicated towards healthcare and critical infrastructure.
They both said this yesterday, at the premier of ‘Unmasked’, a documentary on Nigeria’s response to the pandemic held in Lagos.
Emefiele, who was represented by the CBN’s Director of Corporate Communications, Osita Nwasinobi, explained: “Building a robust healthcare infrastructure was also vital from a security perspective, as some nations had imposed restrictions on the exports of vital medical drugs as well as the use of drug patents that could aid in containing the s ....

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