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The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has resumed duty after his following his return from vacation abroad, reports ITREALMS.
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Showing posts with label Godwin Emefiele. Show all posts
Showing posts with label Godwin Emefiele. Show all posts
Monday, January 16, 2023
Emefiele returns, resumes work @CBN - ITREALMS
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The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has resumed duty after his following his return from vacation abroad, reports ITREALMS.
Mr. Emefiele, ITREALMS gathered went on purported annual leave in December 2022, and resumed work on Monday, January 16, 2023.
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has resumed duty after his following his return from vacation abroad, reports ITREALMS.
Monday, May 13, 2019
No money missing, stolen in CBN, says spokesman - ITREALMS
ITREALMS:
The Director, Corporate Communications, Central Bank of Nigeria (CBN) Mr Isaac Okoroafor has said that no money is missing or stolen from the bank’ as alleged in some media., reports ITREALMS.
A statement on Sunday and made available to ITREALMS in reaction to an recent article and audio clips in which the CBN Governor and other senior officials were heard discussing discrepancies in the bank’s accounts., describing it as distorted report.
Okoroafor told ITREALMS that the audio was distorted in a manner which depicts a different impression of the matter being discussed, which was to proffer solutions to a misunderstanding that affected the Bank’s balance sheet.
“As publicly known the CBN was approached in 2015 by the National Economic Management Team and the National Economic Council chaired by the Vice President, to assist State Governments with Conditional Budget Support.
“This happened in the aftermath of the significant nose-dive in global oil prices and associated FAAC allocations.
“In order to ensure that ordinary Nigerian workers got their salaries, pensions and gratuities and that the economy continued to recover from the recession, the Bank provided about N650 billion in loans at 9 per cent with a two-year grace period to 35 States of the Federation.
“These monies were distributed to the states monthly with documented approval of the Federal Ministry of Finance and the Presidency.
“In closing the Bank’s 2018 accounts, external auditors in their Draft Account erroneously classified about N150 billion of these loans as bad, which negatively affected the Bank’s Balance Sheet and shareholders fund.
“The selective conversation being circulated was simply a discussion to ascertain why the auditors took that position and next steps to resolve it.
“Obviously, it soon became clear that a State Government loan cannot be classified as “bad” or “irrecoverable” when the State still exists and getting FAAC allocations.
“The Bank then reached out to the Federal Ministry of Finance and they jointly gave comfort to the auditors who accepted in writing that these monies would be repaid.
“On this basis, the auditors reversed the negative entry and the certified that the CBN’s 2018 accounts were a true reflection of the State of Affairs,” he said.
Okoroafor also enjoined Nigerians to disregard the audio and continue to trust that the Bank is doing everything it could to represent their interests in the best possible way.
“Under the leadership of Governor Emefiele, the CBN has always stood for, and vigorously pursued transparency in its stewardship of public resources and policies.
“The integrity of the CBN Governor remains unassailable. He has no account in Dubai or anywhere in the world and would never convert the funds of CBN for personal use. Not in the past, not now and not ever.
“The use of selective wiretapped conversations of the Bank’s Management, to malign his character and integrity will never stand.
” The Bank will pursue every legal means to bring the perpetrators to justice,” he submitted.
Chuks Egbune/DoP
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A statement on Sunday and made available to ITREALMS in reaction to an recent article and audio clips in which the CBN Governor and other senior officials were heard discussing discrepancies in the bank’s accounts., describing it as distorted report.
Okoroafor told ITREALMS that the audio was distorted in a manner which depicts a different impression of the matter being discussed, which was to proffer solutions to a misunderstanding that affected the Bank’s balance sheet.
“As publicly known the CBN was approached in 2015 by the National Economic Management Team and the National Economic Council chaired by the Vice President, to assist State Governments with Conditional Budget Support.
“This happened in the aftermath of the significant nose-dive in global oil prices and associated FAAC allocations.
“In order to ensure that ordinary Nigerian workers got their salaries, pensions and gratuities and that the economy continued to recover from the recession, the Bank provided about N650 billion in loans at 9 per cent with a two-year grace period to 35 States of the Federation.
“These monies were distributed to the states monthly with documented approval of the Federal Ministry of Finance and the Presidency.
“In closing the Bank’s 2018 accounts, external auditors in their Draft Account erroneously classified about N150 billion of these loans as bad, which negatively affected the Bank’s Balance Sheet and shareholders fund.
“The selective conversation being circulated was simply a discussion to ascertain why the auditors took that position and next steps to resolve it.
“Obviously, it soon became clear that a State Government loan cannot be classified as “bad” or “irrecoverable” when the State still exists and getting FAAC allocations.
“The Bank then reached out to the Federal Ministry of Finance and they jointly gave comfort to the auditors who accepted in writing that these monies would be repaid.
“On this basis, the auditors reversed the negative entry and the certified that the CBN’s 2018 accounts were a true reflection of the State of Affairs,” he said.
Okoroafor also enjoined Nigerians to disregard the audio and continue to trust that the Bank is doing everything it could to represent their interests in the best possible way.
“Under the leadership of Governor Emefiele, the CBN has always stood for, and vigorously pursued transparency in its stewardship of public resources and policies.
“The integrity of the CBN Governor remains unassailable. He has no account in Dubai or anywhere in the world and would never convert the funds of CBN for personal use. Not in the past, not now and not ever.
“The use of selective wiretapped conversations of the Bank’s Management, to malign his character and integrity will never stand.
” The Bank will pursue every legal means to bring the perpetrators to justice,” he submitted.
Chuks Egbune/DoP
*JOIN our alert's group | Share stories with us | Advert placement: WhatsApp | SMS: +2348033592762 *Twitter: @ITREALMS *Email: itrealms.dsa@gmail.com*
Wednesday, August 12, 2015
CBN ready to support e-governance project in Nigeria
ITRealms
The Central Bank of Nigeria
said it will not take back bench in the e-governance project in Nigeria as a
way of deepening payment system in the country as well as help enthrone transparency
and accountability, ITRealms reports.
The CBN Governor, Mr. Godwin Emefiele said, “the CBN is ready to support the e-governance project in Nigeria as a way of deepening payment system in the country as well as help enthrone transparency and accountability. It is in this light that the CBN has been supportive of the FSS2020 project as a way of establishing an international financial centre in Abuja with all the benefits accruable from the establishment like the Dubai model.”
In the report by The Nation, Emefiele called on President Muhammadu Buhari to urgently give presidential assent to three bills passed by the National Assembly concerning Financial Sector Strategy 2020 (FSS 2020).
The CBN boss, ITRealms learnt, made the appeal during the e-Government Summit 2015 in Abuja even as he frowned that the bills had over-stayed on the floor of the National Assembly, adding, the CBN ”pleads with Mr. President to take time out and look at the bills and give them his assent because they will help to move this country forward.”
Represented by the apex bank’s Deputy Governor (Operations), Alhaji Suleiman Barau on the occasion, he said the bills had for seven years been at the National Assembly, saying that the president’s assent to the bills will “pave the way for the establishment of the Nigerian International Financial Centre and other ancillary requirements in line with international best practices”.
The CBN is particularly worried that the bills may be given less attention than they deserve because they were passed during the last days of the 7th National Assembly, ITRealms reports.
Cyriacus Nnaji/ED,OPs
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Pix:The CBN Governor, Mr. Godwin Emefiele
The CBN Governor, Mr. Godwin Emefiele said, “the CBN is ready to support the e-governance project in Nigeria as a way of deepening payment system in the country as well as help enthrone transparency and accountability. It is in this light that the CBN has been supportive of the FSS2020 project as a way of establishing an international financial centre in Abuja with all the benefits accruable from the establishment like the Dubai model.”
In the report by The Nation, Emefiele called on President Muhammadu Buhari to urgently give presidential assent to three bills passed by the National Assembly concerning Financial Sector Strategy 2020 (FSS 2020).
The CBN boss, ITRealms learnt, made the appeal during the e-Government Summit 2015 in Abuja even as he frowned that the bills had over-stayed on the floor of the National Assembly, adding, the CBN ”pleads with Mr. President to take time out and look at the bills and give them his assent because they will help to move this country forward.”
Represented by the apex bank’s Deputy Governor (Operations), Alhaji Suleiman Barau on the occasion, he said the bills had for seven years been at the National Assembly, saying that the president’s assent to the bills will “pave the way for the establishment of the Nigerian International Financial Centre and other ancillary requirements in line with international best practices”.
The CBN is particularly worried that the bills may be given less attention than they deserve because they were passed during the last days of the 7th National Assembly, ITRealms reports.
Cyriacus Nnaji/ED,OPs
ITREALMS ... everything news digitally!
Pix:The CBN Governor, Mr. Godwin Emefiele
Monday, October 20, 2014
Aganga, Johnson, Emefiele, Amazu lead speakers at FBN annual investor confab
The
Honourable Minister for Trade and Investment, Mr. Olusegun Aganga; her counterpart
in the Communication Technology, Mrs. Omobola Johnson; the Governor of the
Central Bank of Nigeria, Mr. Godwin Emefiele; and the Director
General, Nigerian Pension Commission, Mrs Chinelo
Anohu-Amazu, have been confirmed to lead speakers at the 2014 annual investors
conference being hosted by the FBN Capital, reports ITRealms.
FBN Capital Limited is the investment
banking and asset management subsidiary of FBN Holdings Plc.
ITRealms recalls that this year is the 4th edition of its annual investor conference,
holding on the 11th and 12th of November 2014 at the
Federal Palace Hotel in Lagos, with the theme “Lifting the lid on emerging Nigeria”, which focuses on the
recently rebased Gross Domestic Product (GDP) of Nigeria, and how investors and
stakeholders could tap into the potential that this new data presents.
ITRealms
gathered that also lined up to speak at the event is Dr. Anil Gupta, a scholar widely
regarded as one of the world’s leading experts on strategy, globalization and entrepreneurship. He will be discussing his ideas on how
Nigeria could handle the “too big to ignore” tag which comes with the elevated position the country finds itself in
after the rebasing.
Dr. Gupta is ranked by Thinkers50
as one of the world’s “most influential living management thinkers” and is
one of only three professors in the world to have been elected by his peers as
a Lifetime Fellow of all three of the most prestigious bodies in the field –
Academy of Management, Strategic Management Society, and Academy of
International Business.
ITRealms recalls that Nigeria’s revised GDP for
2013 is currently N80.2 trillion (US$509.9 billion). This represents an
increase of about 89% over the old GDP estimate for 2013, and the new GDP
numbers paint a more realistic picture of the economy by showing that the
Nigerian economy is more diversified than previously estimated or reported.
As said by the Managing Director of FBN Capital, Mr. Kayode
Akinkugbe, “Over the last three years, we have
explored key aspects of Nigeria’s economic evolution as it transitions from a
frontier to an emerging economy. This year, we will consider how Nigeria can
capitalize on the recent GDP rebasing which has propelled it to the position of
the largest economy in Africa, and also shine the spotlight on previously
under-represented fast-growing sectors of the economy which the recent rebasing
has brought into focus.”
In
2014, FBN Capital was recognized as the Best Investment Bank in Nigeria for the
third year running by Global Finance Magazine. It was also recognized in the
World Finance Banking Awards as the Best Investment Bank in Nigeria and the
EMEA Finance African Banking Awards as the Best Local Investment Bank in 2013.
+Remmy Nweke +Remmy Nweke (ITRealms) ITREALMS ... delivering news for ICT4D
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