PM News Nigeria

CBN governor debunks rumours, quits in June

Sanusi Lamido Sanusi, Governor, CBN:  Not leaving until June

Ayorinde Oluokun/Abuja Mallam Sanusi Lamido Sanusi will quit office as the Governor of Central Bank of Nigeria on June 2 when his tenure will office will expire, the apex bank confirmed on Thursday. Ugochukwu Okoroafor, spokesperson for the apex bank told journalists at the end of a press briefing on the execution of the Payments […]

Lemo bows out as CBN Deputy Gov

Babatunde Lemo: bows out

Ayorinde Oluokun/Abuja Mr.Babatunde Lemo, Deputy Governor, Operations, Central Bank of Nigeria, CBN, Deputy Governor in charge of Operations is set to retire after spending 10 years at the apex bank. A statement by the CBN in Abuja on Wednesday indicated that Lemo’s retirement would take effect from January 11, 2014, being the last working day […]

Sanusi Lamido: I did not say $49.8b missing

Sanusi Lamido, Central Bank of Nigeria, CBN, Governor: denies missing $billions

The Governor of Central Bank of Nigeria (CBN), Mr Sanusi Lamido Sanusi, on Wednesday in Abuja denied saying that 49.8 billon dollars was missing from the Federation Account. Sanusi said: “I only said that there may be unremitted amount of monies into the federation account.’’ He said this when he appeared before the Senate Committee […]

NNPC And The Missing $49.8bn


Last week, Nigerians were shocked to learn that $49.8bn crude oil sales proceed was missing from the federation account. The governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, in a letter to President Goodluck Jonathan had accused the Nigerian National Petroleum Corporation of failing to remit $49.8billion (N8trillion) received from the sale of […]

Sanusi Lamido exposes $50b fraud by NNPC

Sanusi Lamido Sanusi, Governor, CBN:  Not leaving until June

On a day the world focussed on anti-corruption campaigns, a mind boggling revelation has been made by the Governor of Nigeria’s Central Bank, over the non-remmittance of about $50b oil income to the national account by the NNPC. The $50 billion was accumulated between 2012 and 2013. According to SaharaReporters, the Governor of the Central […]

Nigeria to ditch polymer Naira notes for paper

twenty naira polymer note to be scrapped

Nigeria is to revert to paper banknotes, the country’s central bank has announced, in a policy switch bucking a growing trend around the world for tougher polymer-based currency. The Central Bank of Nigeria (CBN) signed a deal in 2006 with Australia’s Securency International to print lower more-circulated units of the naira in polymer, while higher […]

Nigeria: Money market worried over declining external reserve

Sanusi Lamido Sanusi: mulls legal challenge

Nigeria’s declining external reserves topped major issues in the money market this week. The external reserves have continuously declined in the last one month and stood at 44.81billion on 20 November. The Central Bank of Nigeria (CBN) reported on its Website that the external reserves depreciated by 2.37 per cent during the period from 45.22 […]

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