Tag: CBN

CBN cuts lending rate from 14% to 13.5% to fast track growth
March 26, 2019 No Responses

CBN cuts lending rate from 14% to 13.5% to fast track growth

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has cut down the benchmark lending rate from 14 per cent to 13.5 per cent to further promote economic growth. The Central Bank Governor, Mr Godwin Emefiele said...
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Ecobank Group Faults Forfeiture Claim on Airtel Shares
March 18, 2019 No Responses

Ecobank Group Faults Forfeiture Claim on Airtel Shares

There is no forfeiture order of the Federal High Court of Nigeria in its proceedings that is directed against Ecobank Transnational Incorporate (ETI) or Ecobank Nigeria Limited, O&O Networks Limited, Special purpose vehicle owned by the Ecobank Group, expl...
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$8.1b remittances: CBN, MTN Nigeria reach truce
December 24, 2018 No Responses

$8.1b remittances: CBN, MTN Nigeria reach truce

 The Central Bank of Nigeria (CBN) and MTN Nigeria Communications have resolved issues relating to $8.1 billion foreign exchange remittances by the telecom giant, the apex bank announced ON Monday. In a statement, the CBN however identified the proceeds from....
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MTN to Acquire Banking Licence in Nigeria, says CEO
November 13, 2018 No Responses

MTN to Acquire Banking Licence in Nigeria, says CEO

Rob Shuter, the Chief Executive Officer at MTN Group, says the group will acquire an independent banking licence in Nigeria by 2019. Speaking at a telecoms conference in Cape Town, South Africa on Tuesday, the MTN chief said it will put...
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$8.1bn transfer: Industry Watchers Seek Amicable Resolution
October 29, 2018 No Responses

$8.1bn transfer: Industry Watchers Seek Amicable Resolution

Court to Hear MTN’s Case Oct 30 It is one day to the October 30, date for court to hear the case between Telecommunication giant, MTN and the Central Bank of Nigeria (CBN) in a dispute over the alleged transfer...
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MTN vs CBN Row over $8.1B Funds Transfer for Hearing Oct 30
October 21, 2018 No Responses

MTN vs CBN Row over $8.1B Funds Transfer for Hearing Oct 30

A hearing in the court case between MTN and Central Bank of Nigeria in a dispute over the alleged transfer of $8.1 billion of funds by the telecoms firm, has been set for Oct. 30, a lawyer for MTN said...
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N5.87b fine: CBN reviews new evidence from banks, MTN
September 20, 2018 No Responses

N5.87b fine: CBN reviews new evidence from banks, MTN

The Central Bank of Nigeria (CBN) is reviewing new evidence from four banks and MTN Nigeria over the sanctions slammed on them by the regulator, it was learned yesterday. The banks – Standard Chartered Bank, Stanbic-IBTC, Citibank and Diamond Bank...
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CBN may be shooting self in the foot over witch hunt of MTN
September 18, 2018 No Responses

CBN may be shooting self in the foot over witch hunt of MTN

The debate over the tax compliance of MTN and the alleged illegal transfer of equity through four banks have dominated the tabloids for the last few weeks. The findings were brought to public knowledge when the letters sent by CBN...
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NCC tells South Africans Investors: MTN Nigeria will Survive Ranging Storms
September 13, 2018 No Responses

NCC tells South Africans Investors: MTN Nigeria will Survive Ranging Storms

There is hope for a truce in the Central Bank of Nigeria (CBN)-MTN Nigeria face-off. Telecoms sector regulator Nigerian Communications Commission (NCC) is to broker peace between the two. The CBN has ordered the mobile giant to refund $8.1billion allegedly .....
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The CNB/MTN Issue: Questions Arising
September 3, 2018 No Responses

The CNB/MTN Issue: Questions Arising

The Central Bank of Nigeria announced on Wednesday, 28th August, 2018, that it is imposing sanctions on four (4) banks for facilitating the ‘illegal’ repatriation of capital from Nigeria on behalf of MTN Nigeria and its shareholders. This surreptitiously f...
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