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The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa's largest economy looks to recover from a historic currency crisis and soaring inflation. The CBN announced that its main monetary policy rate would rise to 24.75% from 22.75%, in its second consecutive hike after February's 400 basis point increase. Governor Olayemi Cardoso told a press conference that policymakers believed they need to continue tightening in order to tame runaway inflation, according to Reuters. "That may be a sign that some MPC members are concerned about the impact on growth from tighter monetary policy," he suggested in a note on Tuesday. Capital Economics expects further tightening, given Governor Cardoso's need to bring down the curtain on the country's inflation and currency crises.
Persons: Olayemi Cardoso, David Omojomolo, Cardoso's Organizations: Central Bank of Nigeria, CBN, Reuters, Capital Economics, MPC Locations: Africa
IBADAN, Nigeria - Feb. 19, 2024: Demonstrators hold placards during a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024. Inflation hit an annual 29.9% in January, driven by soaring food prices that have triggered a cost-of-living crisis in Africa's largest economy. The naira currency, meanwhile, plunged to an all-time low of around 1,600 against the U.S. dollar in late February. "With about 8 percent of Nigerians deemed food insecure, addressing rising food insecurity is the immediate policy priority." IBADAN, Nigeria - Feb. 19, 2024: Demonstrators are seen at a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024.
Persons: Samuel Alabi, Bola Tinubu's, David Omojomolo, Olayemi Cardoso Organizations: Afp, Getty Images, International Monetary Fund, U.S, Bloomberg, Getty, Washington, D.C, IMF, Central Bank of, Capital Economics Locations: IBADAN, Nigeria, Ibadan, Getty Images Nigeria, Africa's, LAGOS, Lagos, Africa
ABUJA/WASHINGTON (Reuters) - Secretary of State Antony Blinken on Tuesday said the United States is determined to remain a strong security partner for Nigeria, whose military is backed by the U.S., Britain and other allies in a long war against Islamist insurgents. "The United States is determined to be and remain a strong security partner for Nigeria," Blinken told reporters. Blinken added that he discussed how it is vitally important there be a focus on ensuring civilians are protected and humanitarian considerations. The coup in Niger was one of a series of military takeovers or attempted power grabs that occurred in West and Central Africa over the past three years. So far, about $2 billion of the backlog across sectors such as manufacturing, aviation, and petroleum have been paid, CBN spokesperson Hakama Sidi Ali said in a statement.
Persons: Antony Blinken, Blinken, Bola Tinubu, Mohamed Bazoum, Hakama Sidi Ali, Chijioke Ohuocha, Felix Onuah, Daphne Psaledakis, Humeyra Pamuk, Simon Lewis, Ismail Shakil, Mark Porter, Daniel Wallis Organizations: Islamist, European Union, France, Central Bank of Nigeria Locations: ABUJA, WASHINGTON, United States, Nigeria, U.S, Britain, Niger, West, Central Africa, Abuja, Africa, Cape Verde, Ivory Coast, Angola, Jan, Africa's, Washington
Nigeria's Tinubu appoints investigator to probe central bank
  + stars: | 2023-07-30 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Nigeria's Central Bank Governor Godwin Emefiele briefs the media during the MPC meeting in Abuja, Nigeria January 24, 2020. REUTERS/Afolabi SotundeCompanies Tinubu Square Sa FollowABUJA, July 30 (Reuters) - Nigeria's President Bola Tinubu has appointed a financial watchdog to investigate the central bank, weeks after he suspended its governor, a copy of a letter from the president showed on Sunday. Tinubu on June 9 suspended Godwin Emefiele, who was then detained by state security agents for allegedly misappropriating funds and a "criminal breach of trust." In a letter dated July 28, Tinubu appointed the chief executive of Nigeria's Financial Reporting Council as special investigator of the Central Bank of Nigeria (CBN) and other government-owned entities. The investigator was to "provide a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments."
Persons: Nigeria's Central Bank Governor Godwin Emefiele, Bola Tinubu, Tinubu, Godwin Emefiele, Dele Alake, Felix Onuah, MacDonald Dzirutwe, Christina Fincher Organizations: Nigeria's Central Bank Governor, MPC, REUTERS, Nigeria's, Central Bank of Nigeria, Thomson Locations: Abuja, Nigeria, ABUJA
The video shows Christian Broadcasting Network (CBN) anchor Heather Sells (here) interviewing Catholic Jesuit priest Thomas Reese (here , twitter.com/ThomasReeseSJ). Reese was one of three delegates from the U.S. Commission on International Religious Freedom (USCIRF) who, in 2016, had their visas applications to India denied. Social media users sharing the clip in 2023 accompanied it with captions linking it to recent violence in Manipur. “Visas rejected for US delegation to visit Manipur. The video shows a March 2016 CBN News report, which predates the 2023 ethnic violence in Manipur.
Persons: Heather Sells, Thomas Reese, Reese, , USCIRF, Read Organizations: Christian Broadcasting Network, Catholic, U.S . Commission, Social, US, Facebook, YouTube, CBN News, Reuters, India’s, External Affairs Locations: U.S, India, Manipur, Meiteis, Kuki
Footage of luxury cars outside the home of a former Nigerian state governor is circulating with false captions that they belong to Nigeria’s central bank Governor Godwin Emefiele, who was recently suspended from his role. Social media users claim the video shows cars outside Emefiele’s home (here and here). “Video Trends of Suspended CBN Governor Godwin Emefiele Residents With Flirts of Cars,” one caption reads (here). The Zamfara state government ordered Matawalle to return all state vehicles in his possession but he refused, a spokesperson for the current governor reportedly said on June 9 (here). The video of luxury cars was filmed outside the residences of former Zamfara governor Bello Matawalle.
Persons: Godwin Emefiele, Bola Tinubu, Bello Matawalle, Matawalle, Read Organizations: Social, Zamfara, Premium Times, YouTube, Reuters Locations: Nigerian
But investors, burned by previous reforms that ultimately proved hollow, say it will take time to build trust and listed myriad questions over the final shape of the economy. Tinubu is from the same party as predecessor Muhammadu Buhari, dubbed "Baba Go-slow" for his pottering pace - taking six months to appoint cabinet members. Nigeria's international dollar bonds and the country's stock market have been boosted by the speedy reforms. Reuters GraphicsInvestors also worry about low tax receipts and falling oil output - structural reforms that will take far longer to sort. Meanwhile interest rates, which Tinubu has said he would like to see fall, were hiked by 50 bps last month to 18.5%.
Persons: Bola, Temilade, Bola Tinubu's, Tunde Ajileye, Muhammadu Buhari, Godwin Emefiele, Goldman Sachs, Andrew Matheny, John Mumo, Joe Delvaux, Amundi, Delvaux, Tinubu, Patrick Curran, Rachel Savage, Libby George, Karin Strohecker, Nick Macfie Organizations: Nigeria's, REUTERS, Central Bank, Reuters, Reuters Graphics, Tellimer, Thomson Locations: Abuja, Nigeria, JOHANNESBURG, LONDON, Lagos, Blakeney, Africa
LAGOS, June 10 (Reuters) - Nigeria's suspended central bank Governor Godwin Emefiele has been detained and is being held in custody for investigative reasons, the police's Department of State Services (DSS) said on Saturday. The country's new President Bola Tinubu suspended Emefiele with immediate effect on Friday, a measure the government said was linked to an ongoing probe of the governor's office and to planned reforms in the financial sector. "The Department of State Services (DSS) hereby confirms that Mr Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN) is now in its custody for some investigative reasons," the DSS statement said. Under Nigerian law, the permanent removal of a central bank governor from office would require a vote by the Senate. Economic analysts expect a series of changes at the central bank, including a gradual devaluation of the naira.
Persons: Godwin Emefiele, Bola Tinubu, Tinubu, Mr Godwin Emefiele, Emefiele, Razia Khan, MacDonald Dzirutwe, Alex Richardson, Mike Harrison, Helen Popper Our Organizations: police's Department of State Services, of State Services, Central Bank of Nigeria, Senate, Standard Chartered, Thomson Locations: LAGOS, Africa, Middle East, Nigeria
Robertson was a televangelist who helped bring Christianity to the center of the Republican Party. Marion Gordon "Pat" Robertson was born March 22, 1930, in Lexington, Virginia, to Absalom Willis Robertson and Gladys Churchill Robertson. Robertson was interested in politics until he found religion, Dede Robertson told the AP in 1987. Pat Robertson listens as Republican presidential candidate Donald Trump speaks at Regent University in Virginia Beach, Virginia. But after President Trump lost to Joe Biden in 2020, Robertson said Trump was living in an "alternate reality" and should "move on," news outlets reported.
Persons: Pat Robertson, Robertson, , — Pat Robertson, Steve Helber, George H.W, George H.W . Bush, Jeffrey K, Hadden, , ″ Robertson, Bush, — Robertson, John C, Green, Marion Gordon, Pat, Absalom Willis Robertson, Gladys Churchill Robertson, Pam MacDonald, Adelia, Dede, Elmer, Dede Robertson, Jimmy Carter, Ronald Reagan, Donald Trump, God, George W, Hugo Chavez, misspoke, Bill Clinton, Trump, Kellyanne Conway, Joe Biden, Robertson's, Gordon, Rupert Murdoch's Organizations: Christian Broadcasting Network, Republican Party, Service, Christian Coalition, Regent University, American Center for Law, Justice, University of Virginia, Associated Press, , Republican, House, The University of Akron, U.S, Representative, Washington, Lee University, 1st Marine Division, Yale University Law School, Conservative, Conference, Yale, Southern Baptist, Catholic, AP, New York Theological Seminary, CBN, University of Akron, White, Trump, International, Entertainment Inc, The, Rupert, Rupert Murdoch's News Corp Locations: Va, Virginia, America, Virginia Beach, Chesapeake , Virginia, Iowa, George H.W ., U.S, Chesapeake, Lexington , Virginia, Korea, Houston, Southern, New York, Bedford, Stuyvesant, Ohio, New, Portsmouth , Va, Virginia Beach , Virginia, Pennsylvania, Orlando , Florida, Kenya, IFE
BRASILIA, May 5 (Reuters) - Brazilian Finance Minister Fernando Haddad said on Friday that he favored taking a long-term view of inflation and that the central bank could begin cutting interest rates. He added, however, that the government could not pre-empt any decision on changing the inflation targets set by the National Monetary Council consisting of himself, the planning minister, and the central bank governor. "I think continuous inflation targeting is much better than looking at the calendar year," Haddad said in an interview with CBN radio. The central bank, meanwhile, has suggested the discussion may have raised inflation expectations, requiring interest rates to remain at 13.75%, the highest they have been in the current cycle. Haddad reiterated criticism of the central bank, saying the bank could already begin cutting rates.
Duterte, whose presidency ended last year, told a gathering of prosecutors: "I did what I had to do. Duterte, who campaigned on promises to kill drug dealers, is being investigated by the ICC for possible crimes against humanity. The probe was reopened in January and the ICC on Monday rejected Manila's request to suspend it pending an appeal questioning the court's jurisdiction and authority. "Disengaging could mean many things, and that is what I want to clarify with the president," Solicitor General Menardo Guevarra, who was justice minister under Duterte, told news channel ANC. Asked about the remarks of Marcos, the ICC said it does not comment on ongoing investigations.
Abuja, Nigeria CNN —Nigeria was forced Wednesday to delay plans to replace its banknotes with a redesigned currency after chaotic scenes at ATMs as millions of people struggled to get their hands on the new cash. The new naira notes are, however, “fortified with security features that make them difficult to counterfeit,” President Buhari said last year. Across the country, banks have increasingly become targets of mounting anger over the frustrating search for the new naira notes. Angry Nigerians vandalise Bank premises over frenzy of new naira notes. Nigerians are desperately relying on their banks to distribute new bills after the February 10 deadline to exchange the old currency saw many scrambling to deposit their old notes.
Nigerians were due to turn in old 1,000, 500 and 200 naira banknotes in exchange for newly designed notes by Friday as part of a central bank initiative to curb cash in circulation and control double-digit inflation. Supreme Court Judge John Inyang Okoro said the decision to suspend the deadline was unanimous, pending a legal challenge from three states who had argued that the note swap plan was causing hardship ahead of the elections. The court is due to hear the states' challenge on Feb. 15. Earlier on Wednesday, the IMF's resident representative in Nigeria urged the Central Bank of Nigeria (CBN) to consider extending the deadline for notes to be swapped given disruption caused by the shortage of new notes. About 1.3 trillion naira ($2.8 billion) in old notes has been deposited into the bank since the announcement in October, according to the bank.
ABUJA, Jan 29 (Reuters) - Nigeria's central bank will extend by 10 days a deadline for swapping old naira currency notes, it said in a statement on Sunday. Nigerians will now have until Feb. 10 to turn in 1,000 ($2.17), 500 and 200 naira notes. The central bank (CBN) started releasing newly designed notes last month but many say they cannot find them at banks or cash machines. Nigerian legislators and opposition presidential candidate Atiku Abubakar had called on the central bank to extend the Jan 31 deadline. About 1.3 trillion naira in old notes has been deposited into the bank since the announcement in October, the bank has said.
Nigeria's Atiku joins calls to extend deadline on old banknotes
  + stars: | 2023-01-28 | by ( ) www.reuters.com   time to read: +2 min
LAGOS, Jan 28 (Reuters) - Nigerian opposition presidential candidate Atiku Abubakar urged the central bank on Saturday to extend a Jan. 31 deadline to phase out old high-value banknotes, a measure many Nigerians fear will disrupt business in the cash-reliant economy. The central bank started releasing newly designed notes last month but many Nigerians say they are not yet available in banks. The Central Bank of Nigeria (CBN) says recalling the notes is part of plans to reduce the use of cash. About 1.3 trillion naira in old notes has been deposited into the bank since the announcement in October, the bank said this week. Nigerian legislators have also asked the central bank to extend the Tuesday deadline.
Nigeria launches domestic card scheme in cashless bid
  + stars: | 2023-01-26 | by ( ) www.reuters.com   time to read: +1 min
ABUJA, Jan 26 (Reuters) - Nigeria's central bank on Thursday launched a domestic card scheme to rival foreign cards like Mastercard and Visa, hoping to enhance its drive to make Africa's biggest economy a cashless society and save the country foreign transaction fees. The announcement by Central Bank of Nigeria (CBN) governor Godwin Emefiele follows the bank's decision last year to phase out old higher denomination bank notes. Emefiele told a virtual launch of the "AfriGo" card scheme that although penetration of card payments in Nigeria had grown over the years, many citizens remained excluded. AfriGo is owned by CBN and Nigerian banks and Emefiele said that Nigeria was joining China, Russia, India and Turkey in launching a domestic card scheme. International card service providers like Mastercard and Visa would not be stopped in Nigeria, he added.
Nigerians unimpressed with resigned Naira banknotes
  + stars: | 2022-11-25 | by ( Nimi Princewill | ) edition.cnn.com   time to read: +4 min
The Central Bank of Nigeria (CBN) says that the redesigned notes will replace notes currently in circulation by Jan. 2023. But many locals are not impressed, describing the supposedly redesigned banknotes as a mere color revamp, given their similarities to the old notes. “Snapchat filter, waste of time and resources, so a whole CBN cannot employ experts to redesign the naira notes. The Nigerian leader added that replacing the current currency with the redesigned notes will help to combat the hoarding of funds outside of the banking system. Old naira notes will be completely phased away by the end of January next year, the CBN says, as locals scramble to deposit their old notes at commercial banks.
Twitter is not dead — but some of its users are already mourning what the platform was, before Elon Musk's takeover. As the site descends further into chaos, users are getting nostalgic and sharing their favorite memories of "old school Twitter." On Thursday, she asked her followers to share a “happy Twitter memory,” and said the responses affirmed her appreciation for pre-chaos Twitter. “Somebody said, ‘I used to think that queer people were sinning ... and now I don’t because of Twitter,’” Crozier said. There were users who pointed out that Twitter, pre-Musk, had been referred to as a “hellsite“ where users “doomscrolled“ for hours.
Valori mobiliare de 35,6 mlrd lei sunt înregistrate în sistemul Depozitarului central unicLa sfârșitul anului trecut, în sistemul Depozitarului central unic al valorilor mobiliare (DCU) erau înregistrate 298,7 milioane de valori mobiliare de tip VMS (valori mobiliare de stat) și CBN (certificatele Băncii Naționale a Moldovei). Totodată, erau înregistrate 890,5 milioane de valori mobiliare corporative (VMC), dintre care 888,2 milioane de acțiuni ordinare și 2,3 milioane de acțiuni preferențiale. Valoarea totală a VMC a constituit 11,9 miliarde de lei, dintre care 99,9% din valoarea totală a VMC reprezentau acțiunile ordinare. Pe parcursul anului trecut, s-a derulat a treia etapă de transmitere a registrelor deținătorilor de valori mobiliare emise de societățile pe acțiuni. Potrivit BNM, pe parcursul anului trecut, în sistemul DCU au fost înregistrate patru incidente, însă acestea nu au afectat continuitatea sistemului.
Organizations: Moldovei, Banca, a Moldovei, Ministerul Finanțelor Locations: Republica Moldova
Исполнитель главной роли в фильме «Страсти Христовы» актер Джим Кэвизел рассказал об «очень жестокой роли», которую ему пришлось пережить за время съемок у Мэла Гибсона, пишет LadBible. Фильм «Страсти Христовы», снятый режиссером Мэлом Гибсоном, собрал в мировом прокате более 612 миллионов долларов и стал одним из самых обсуждаемых фильмов из-за сцен насилия и страдания Христа перед распятием. Актер висел почти голый на кресте, обдуваемый ветрами, в течение нескольких недель съемок. Он получил 14-дюймовую (35 сантиметровую) рану на спине во время сцен бичевания Христа. Из-за этого фильма мне пришлось сделать две операции на сердце, включая одну на открытом сердце.
Persons: Джим Кэвизел, Мэла Гибсон, Мэл Гибсон, Христос, Кэвизел, Мэл Locations: Нагорная, Голгофе
Soldul brut al creditelor a constituit 44,6% din totalul activelor sau 46,6 miliarde lei, majorându-se pe parcursul perioadei analizate cu 2,2% (993,9 milioane lei). Cele mai mari creşteri ale portofoliului de credite au fost consemnate la creditele acordate pentru procurarea/construcţia imobilului – cu 5,8% (460,7 milioane lei) şi la credite de consum – cu 5,0% (373,2 milioane lei). Totodată, creditele neperformante în valoare absolută au crescut nesemnificativ cu 0,1% (4,0 milioane lei), constituind 3,4 miliarde lei. Un impact asupra diminuării soldului depozitelor l-a avut scăderea volumului depozitelor persoanelor juridice cu 1,8 miliarde lei (6,2%), până la 26,9 miliarde lei. Concomitent, volumul depozitelor persoanelor fizice a crescut cu 1,2 miliarde lei (2,4%), până la 52,0 miliarde lei.
Persons: Businessul, Eduard Lupu Locations: străinătate, Moldova, BNM, Germania, Austria, SUA, Italia, Franţa, 31.03.2020
Băncile în 2020: Calitatea portofoliului de credite s-a îmbunătățitSituația financiară a sectorului bancar din anul 2020 se caracterizează prin creșterea activelor, creditelor, fondurilor proprii, depozitelor persoanelor fizice și depozitelor persoanelor juridice. Potrivit datelor Băncii Naționale a Moldovei, calitatea portofoliului de credite s-a îmbunătățit comparativ cu finele anului precedent, iar profitul obținut în anul 2020 a înregistrat o descreștere față de perioada similară a anului precedent, transmite IPN. La sfârșitul anului trecut, activele totale au constituit 103,9 miliarde de lei, majorându-se pe parcursul anului 2020 cu 14,6%. Totodată, volumul creditelor noi acordate pe parcursul anului 2020 s-a diminuat cu 185,4% față de aceeași perioadă a anului precedent. Cel mai mare impact asupra majorării soldului depozitelor a avut-o creșterea depozitelor persoanelor juridice cu 6,1 miliarde de lei (26,8%), până la 28,7 miliarde lei, și a depozitelor persoanelor fizice cu 5,2 miliarde lei (11,3%), până la 50,8 miliarde de lei.
Organizations: Naționale, Banca, a Moldovei Locations: Moldovei, Republica Moldova
Власти Филиппин продлили до 30 апреля запрет на въезд в республику иностранцев и некоторых граждан страны в целях предотвращения распространения коронавируса. Роке уточнил, что "иностранные граждане с действующими документами, разрешающими въезд и выданными до 22 марта 2021 года, могут прибывать на Филиппины". Речь идет о дипломатах, представителях международных организаций, иностранных экипажах морских судов, а также родителях, супругах и детях граждан Филиппин, путешествующих вместе. К настоящему времени общее число заразившихся в республике превысило 904,2 тыс., вылечились более 705,1 тыс. Власти страны уже одобрили экстренное использование четырех вакцин: совместного производства американской компании Pfizer и германской BioNTech, британско-шведской AstraZeneca, китайской Sinovac, а также российский "Спутник V".
Persons: Pfizer BioNTech, Гарри Роке, Роке Organizations: Pfizer, AstraZeneca, Sinovac, Спутник Locations: Филиппины
Bilanțul victimelor provocate de taifunul Vamco la trecerea sa prin nordul arhipelagului Filipine a crescut la 48, alte 9 persoane fiind găsite decedate după inundațiile și alunecările de teren care au avut loc în provincia Cagayan, relatează sâmbătă EFE, preluat de Agerpres. Taifunul Vamco, numit Ulysses pe plan local, a scăzut din intensitate după ce a atins zona de uscat în Filipine, însă s-a întețit din nou, pe măsură ce a părăsit teritoriul țării. Vamco a fost al 21-lea ciclon tropical care a lovit Filipine anul acesta și al cincilea din octombrie. Cel puțin 50 de persoane au murit și peste trei milioane au fost afectate de cele patru cicloane anterioare. Cel mai puternic taifun care a lovit țara a fost Haiyan, care a ucis peste 6.300 de persoane și a condus la strămutarea a alți peste patru milioane de locuitori, în noiembrie 2013.
Persons: taifunul, Ulysses, Vamco Organizations: Agerpres Locations: Filipine, Cagayan, Cabayan, Luzon, Manila, Vietnam
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