Tag: NESG

Population growth eroding gains of economic reforms – Bagudu

NESG inaugurates council to champion economic reforms

FG targets $100bn investment, 2m jobs from creative economy

The Minister of Arts, Culture and Creative Economy, Hannatu Musa Musawa, has disclosed plans to create $100bn investment and 2 million jobs from the creative…

4 months ago
NESG inaugurates council to champion economic reforms
4 months ago
Over 30m Nigerians financially excluded – NESG
4 months ago
NESG canvasses collaboration to grow real estate, other sectors
4 months ago
Economy will prosper if climate threats are tackled – NESG
5 months ago
NESG to hold dialogue on Nigeria’s economy

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July 7, 2024

26 million Nigerians risk malnutrition over inflation –NESG

Severe Acute Malnutrition of nigeria

June 30, 2024

NESG backs CBN’s stoppage of price verification system on FX

June 29, 2024

NESG backs CBN’s decision to stop price verification on FX transactions

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June 22, 2024

CBN partners NESG, others to improve business environment

The Central Bank of Nigeria has released a strong affirmation of the security of cash within Nigerian banks, highlighting the country's banking sector's soundness. Amid widespread unconfirmed rumours, not originating with the CBN, raising concerns about the health of Nigerian banks, the central bank of Nigeria asked the people not to panic and to continue with their usual banking activity. To ease people's anxieties and comfort them, the CBN emphasized its readiness and capability to carry out its stated role of maintaining a stable financial system in Nigeria. This statement by the CBN responds to the concern caused by unverified information and seeks to reassure the public about the safety and stability of the country's banking industry. "The Central Bank of Nigeria has noticed reports, in certain media outlets, about a recommendation for the Federal Government to take over some CBN-supervised financial institutions," said the apex bank's acting Director, Corporate Communications, Hakama Sidi-Ali, in a statement issued on Wednesday. "To avoid any doubt, Nigerian banks are still safe and sound. The CBN advises the public to go about their daily lives without getting disturbed by reports regarding the health of Nigerian banks that have not come from the CBN. "The CBN is fully equipped to carry out its statutory duty of ensuring the stability of Nigeria's financial system. "We assure the general public and depositors that their funds are safe in Nigerian financial institutions. "Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern." This statement follows a report by the CBN's special investigator, Jim Obazee, alleging that Godwin Emefiele, the former governor of the federal bank, used proxies to establish two financial institutions. According to the report, Emefiele utilised proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without providing any proof of payment. As a result, it recommended that the Federal Government reverse the sale and take over the banks.

May 3, 2024

NESG harps on strong institutions