Buhari appoints Godwin Emefiele as CBN governor for second term | Nigeria News
Connect with us

Economy

Buhari appoints Godwin Emefiele as CBN governor for second term

Published

on

Godwin Emefiele reappointed as CBN governor by muhammadu Buhari, Nigeria president

The news reaching NIGERIA NEWS is that the governor of Central Bank of Nigeria, Godwin Emefiele has been reappointed by the Nigerians president, Muhammadu Buhari for the second term.

Recall that the tenure of the governor of the CBN is meant to expire next month, June buh his reappointment will see him spend another four years in the CBN.

NIGERIA NEWS understands that provided that Emefiele spends another full term he will become the first Nigerian to spend 8 good years in the apex bank of Nigeria since the returning of Democrazy in 1999.

BREAKING: The President of the Senate, Dr. Abubakar Bukola Saraki, has just read a letter from President Muhammadu Buhari, reappointing the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, for a second term.

searchform

 

Please share this info from NIGERIA NEWS, it is VERY important for all
  • 7
  •  
  •  
  •  
  •  
  •  
    7
    Shares
  • 7
    Shares

Business

CBN, Governor Emefiele reacts to ‘missing’ of over N600bn

Published

on

Breaking News; Buhari appoints Godwin Emefiele, CBN governor for second term in office

The Central Bank of Nigeria, CBN and the Governor of the Apex bank, Governor Godwin Emefiele has reacted to rumour going around on social media and elite that about 600Bilion is missing since 2016.  The reactions of governor Emefiele was received on Monday morning by NIGERIA NEWS

This news was generated as a result of audio recording going around where the board of the CBN are heard saying 644bn is missing.

Here is the full statement made by the apex bank on the issue and audio recording.

The Management of the Central Bank of Nigeria (CBN) has been notified of a purported audio recording of selective conversations amongst the Governor, Deputy Governor and some Senior Officials.

searchform

Contrary to the headline-grabbing narrative that the discussion was about a fraudulent transaction, this conversation – the beginnings of which was omitted to create a different impression – was simply 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 (NEC), chaired by the Vice President, to assist State Governments with Conditional Budget Support, 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 recession, the Bank provided about N650 billion in loans at 9% 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 resolving 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.

Reconciliation of Balance Sheet items are regular conversations amongst Senior Management of many agencies and should not be misconstrued as anything but that. Had the online media which released the selective recordings sought the comments of CBN as required of journalism practice, we would have provided it.

Clearly, those who listened to the audio can easily ascertain that the conversation had nothing to do with anything fraudulent as purported. The Bank therefore urges all well-meaning Nigerians to disregard this audio and continue to trust that the Bank is doing everything it can 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. NO MONIES ARE MISSING OR STOLEN. 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.

Please share this info from NIGERIA NEWS, it is VERY important for all
  • 15
  •  
  •  
  •  
  •  
  •  
    15
    Shares
  • 15
    Shares
Continue Reading

BREAKING

N-Power News: Latest News Update on Federal Government Scheme

Published

on

2019 N-power News – see today’s 10 latest updates here – Npower.gov.org

Today we are going to give you all the latest news on  N-power and you are also going to see how you can use npower.gov.org to get the latst news on the 2019 N-Power Scheme.

You will see the 10 latest news about N-power and npower.gov.org can be used to get all latest N-power updates. The 2019 Npower application is currently online – click here to apply now

Minimum Wage: Does it affect Npower Monthly Stipends? – A few days ago, Nigeria’s president, Muhammadu Buhari signed the new National Minimum Wage Bill into law which is expected to take immediate effect according to sources within the presidency.

searchform

The passing of this bill into law has however steered up nationwide rumours especially on social media with regard to the increment of the monthly stipend of federal government’s social intervention scheme “Npower”.

The rumours making headlines have it that Npower monthly stipend will be increased from #30,000 to #50,000 due to the expected nationwide rise in workers’ salary as a result of the national Minimum Wage Bill been passed into law – Read more

Npower Announces Date For 2019 Registration – The Nigeria’s Federal Government Social Intervention Scheme has announced date for the commencement of physical registration for N-Build. Selected applicants should apply here

In addition,N-power also announced that it has incorporated two more categories to the N-Build section; Agricultural-Technology and Hospitality. Read more here

Npower: Latest on Payment of March 2019 Salary – The federal government t has revealed that the payment for Npower monthly stipend for the month of March 2019 will commence very soon. According to Financial Times, this statement was made earlier this week by Npower on its different social media accounts – Read more here

N-Power News Update: Training Date and Venue Released for N-Tech Participants- The date and venue for the commencement of training programme for the 2019 N-Tech Applicants have been announced  – You can apply for othe N-Power programmes here

The training for N-Power Knowledge Tech Hardware Training will commence in South-West geopolitical zone  on Monday, March 25, 2019 – Read more

See Also: Npower Final List

So take your time to go through the N-Power news listed below

Note: The Npower updates for today have been broken down to 10 different sections for easy assessement of the readers.

See also: Npower posting list

It will be helpful if you can take your time to go through these 10 difernt sctions

We are dedicated to keep on giving you the latest news on Npower and other federal government related empowerment schemes

Be informed that the 2019 N-Build application will start on November 5th. The application closes on November 16th 2019.

 

 

 

 

Please share this info from NIGERIA NEWS, it is VERY important for all
  •  
  •  
  •  
  •  
  •  
  •  
Continue Reading
Advertisement

contact us

email for nigerianews

NigeriaNews_net

Advertisement

Trending