June 8, 2018

June 2018 FGN Savings Bonds Offer for Subscription

Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates […]

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VAIDS: FIRS rakes in N30bn as deadline ends June 14

The Chairman, Federal inland Revenue Service (FIRS) Mr Tunde Fowler has said the Voluntary Assets and Income Declaration Scheme (VAIDS) policy has raked in about N300billion from previous tax defaulters. Speaking yesterday in Abuja while declaring open, the official presentation of VAIDS certificates to chairmen of states’ tax revenue authority, Fowler said the N30bn recovered

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Micro, Small and Medium Enterprises Development Fund (MSMEDF)

Brief Introduction of the MSMEDF The CBN launched the MSME Development Fund on August 15, 2013 with a share capital of N220 billion. The Fund was established in recognition of the significant contributions of the Micro, Small and Medium Enterprises (MSME) sub-sector to the economy and the existing huge financing gap. Ten (10) percent of

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CIRCULAR TO ALL BANKS ON THE REDESIGNED CRMS: NOTICE OF COMMENCEMENT OF CRMS COMPLIANCE STATUS CHECKS

CENTRAL BANK OF NIGERIA Financial Policy and Regulation Department Central Business District P.M.B. 0187 Garki, Abuja. June 6, 2018 CIRCULAR TO ALL BANKS ON THE REDESIGNED CRMS: NOTICE OF COMMENCEMENT OF CRMS COMPLIANCE STATUS CHECKS The CBN Circular Ref: FPR/DIR/GEN/CRM/06/012 (dated February 27 2017), on ‘Regulatory Guidelines for the Redesigned Credit Risk Management System for

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CBN issues guidelines for $2.5bn currency swap with China

The Central Bank of Nigeria (CBN)  said it will exchange N720 billion for 15 billion Chinese Renminbi (RMB) in three years under  the $2.5 billion bilateral currency swap (BCS) with Peoples Bank of China (PBoC). The apex bank disclosed this in the guidelines for executing the BCS released yesterday, adding that it would conduct bi-weekly

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