Tag: Godwin Emefiele

Nigerian Banks Restructure $20 Billion of Loans as Virus Hits

Nigerian banks are restructuring 41% of loans in the country after the central bank placed a moratorium on interest charges and principal debt repayments to cushion the blow of lower…

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In Move to Unify exchange rates, CBN debits banks N122bn

In move to unify its multiple exchange rates,Central Bank of Nigeria debited N122bn ($338m) from banks’ excess cash with the apex bank before weakening the currency at a retail auction…

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Central Bank of Nigeria cuts benchmark lending rate to 12.5%

Nigeria’s central bank cut its benchmark lending rate to 12.5% from 13.5%, the central bank governor said on Thursday. Central Bank Governor Godwin Emefiele said seven of the 10 members…

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