CBN sets December 31st deadline for 65% LDR target: A wrap of Nigeria’s FX markets
07 October 2019 | 11:33 am
The Central Bank of Nigeria (CBN) has charged 12 banks over N400bn for failing to meet the loan-to-deposit-ratio (LDR) target set by Apex Bank. CBN had set September 30th as deadline for banks in the Country to meet the 60 per cent loan-to-deposit-ratio target. To discuss this story, Omotola Abimbola, Macro and Fixed Income Analyst at Chapel Hill Denham joins CNBC Africa for more.
On 7 September 2021, El Salvador became the first country to embrace bitcoin as legal tender. Consumer demand saw its brand-new cyber wallet system crash on its first day of use as the currency's value seesawed against the US dollar. While thousands of Salvadorans are already using the cryptocurrency for everyday transactions, hundreds have taken to the streets to protest with concerns about the safety and legitimacy of the cyber currency.
A vibrant media landscape had developed in Afghanistan over the past 20 years. Since the Taliban takeover, media professionals face immediate danger and even death. Activists are urgently calling for help.
Courting controversy at the outset of his third term, Albanian PM Edi Rama has set up a new state agency for media and information, or MIA. Skeptics decry it as a "propaganda ministry."
Mikhail Saakashvili said he returned to Georgia in support of the opposition as local elections get underway this weekend. Current Prime Minister, Irakli Garibashvili, had vowed to arrest Saakashvili if he returned.
While the rest of the world literally looks up to the Dutch, the tallest people in the tallest country on earth insist it's not easy being so big. So an official study by the Dutch national statistics office CBS finding that they appear to be shrinking might be construed as good news -- even if it could threaten the Netherlands' number one spot as the world's loftiest nation.
The ban came into effect in September, making it near to impossible for a woman to obtain an abortion in Texas. Lawyers for the Biden administration argue the ban is designed to scare abortion providers. DW's Ines Pohl reports from Texas.
Saudi Arabia, the world's top oil exporter, aims to achieve net zero carbon emissions by 2060, says Crown Prince Mohammed bin Salman, days before the COP26 global climate summit. In March, Saudi Arabia unveiled a sweeping campaign to tackle climate change and reduce carbon emissions, including a plan to plant billions of trees in the coming decades.
Years after the Yazidi massacre by the "Islamic State," tens of thousands of survivors still aren't able to return home. In Iraqi Kurdistan, a German aid worker is trying to help these refugees.
As Bulgaria heads to the polls on November 14, foreign-educated nationals who have returned are trying to drive badly needed reforms and tackle the country’s dominant problem — corruption.
The Empire State building was lit up with the colours of the French flag this week, in honour of the American-French performer Josephine Baker, who was inducted into France's Panthéon mausoleum on Tuesday. In the US, Josephine Baker is just as beloved as she is in France, and nowhere more so than in Harlem, in New York City. Our correspondents Jessica Le Masurier, Yves Schaeffner and Fanny Chauvin met with New Yorkers to explore Baker's legacy.
In October, the Central Bank of Nigeria launched the hugely-anticipated eNaira, joining the small league of countries to own their digital currency. But it hasn’t been smooth sailing for the currency that, according to the CBN, offers more possibilities. What do you think about the eNaira? How would you describe your experience with the eNaira app?
In the world of politics, youth appears to be having a moment. Gabriel Boric is the latest to become the youngest ever president at 35 to lead Chile. Here's a list of Five other young country leaders around the world.
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The Nigerian government had previously planned to phase out the gasoline subsidy program, calling it "unsustainable." Despite being Africa's main oil exporter, the country relies on importing petroleum products.
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The West still doesn't know why war in Ukraine might happen, but it increasingly seems like it's happening. Kiev is trying to keep calm and rally support while being surrounded on three sides and being the recent victim of a cyberattack that feels like a dry run. Meanwhile, NATO countries are sending weapons and advisors while deploying fresh troops elsewhere in Eastern Europe. But that's small compared to the 100,000-plus forces amassed by Moscow.
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Out of 24 members of Gabriel Boric's Cabinet, 14 are women. Leftist Boric also appointed a former Central Bank chief as finance minister, which has been seen as a shift to the political center.
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French adventurer Jean-Jacques Savin, who set off in a rowboat from Portugal on January 1 to cross the Atlantic solo, has vanished at sea with his boat found overturned and empty near the Azores archipelago, Portugal's navy said. The 75-year-old Savin's support team had said in a Facebook post on Saturday that his body had been found inside the cabin of his sleek, purpose-built boat Audacious, but late on Sunday issued another statement signed by his daughter Manon that the body had not been recovered.
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Kardashian's estranged husband, Kanye West, recently sat down for an interview with Jason Lee for Hollywood Unlocked, and another clip from the chat was released on Tuesday. During the conversation, the rapper claimed he stopped a second sex tape between Kardashian and her ex Ray J from leaking by collecting a laptop from the singer after the reality star's debut on Saturday Night Live in October.
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It's toxic for the environment and also a huge waste of energy. According to recent studies, the oil industry of Nigeria alone flares off 8 billion cubic metres of gas each year.The gas is a by-product of oil production and could be used as energy. But so far, oil companies have avoided making the necessary investments to do that.