* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, August 30, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    South Park Is In Trouble And Needs To Change Course, Fast – yahoo.com

    South Park Faces Major Challenges and Must Adapt Fast to Survive

    ‘Netflix House’ entertainment complexes are coming. Here’s when they open – Los Angeles Times

    Exciting News: Netflix’s House Entertainment Complexes Are Opening Soon!

    ‘Big Brother’s’ Rylie Jeffries Finally Speaks Out on Katherine Woodman Controversy – El Paso Inc.

    Big Brother’s Rylie Jeffries Finally Speaks Out on Katherine Woodman Controversy

    ‘SNL’ Parts Ways With Emil Wakim Amid Rumored Season 51 Cast Shakeup – yahoo.com

    SNL Shakes Up Season 51 Cast with Emil Wakim’s Surprising Exit

    Do you have a favorable or an unfavorable opinion of Taylor Swift? – YouGov

    Do You Love Taylor Swift or Not? Share Your Thoughts!

    Upload Season 4 Review – yahoo.com

    Upload Season 4 Review: A Thrilling New Chapter Unveiled

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    13 Top Technology Trends (2025) – Exploding Topics

    13 Game-Changing Technology Trends to Watch in 2025

    Japan’s legacy LCD and chip technology find new home in India – Nikkei Asia

    How Japan’s Breakthrough LCD and Chip Technologies Are Driving Innovation in India

    ITSWC 2025: Thursday sessions guide – Traffic Technology Today

    Your Ultimate Guide to Thursday Sessions at ITSWC 2025

    MC Machinery Technology Summit Showcases Manufacturing Innovations – Modern Machine Shop

    MC Machinery Technology Summit Unveils Cutting-Edge Manufacturing Innovations

    US-ROK Technology Cooperation Faces Rising Tensions – The National Interest

    Rising Tensions Put US-South Korea Technology Partnership to the Test

    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    South Park Is In Trouble And Needs To Change Course, Fast – yahoo.com

    South Park Faces Major Challenges and Must Adapt Fast to Survive

    ‘Netflix House’ entertainment complexes are coming. Here’s when they open – Los Angeles Times

    Exciting News: Netflix’s House Entertainment Complexes Are Opening Soon!

    ‘Big Brother’s’ Rylie Jeffries Finally Speaks Out on Katherine Woodman Controversy – El Paso Inc.

    Big Brother’s Rylie Jeffries Finally Speaks Out on Katherine Woodman Controversy

    ‘SNL’ Parts Ways With Emil Wakim Amid Rumored Season 51 Cast Shakeup – yahoo.com

    SNL Shakes Up Season 51 Cast with Emil Wakim’s Surprising Exit

    Do you have a favorable or an unfavorable opinion of Taylor Swift? – YouGov

    Do You Love Taylor Swift or Not? Share Your Thoughts!

    Upload Season 4 Review – yahoo.com

    Upload Season 4 Review: A Thrilling New Chapter Unveiled

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    13 Top Technology Trends (2025) – Exploding Topics

    13 Game-Changing Technology Trends to Watch in 2025

    Japan’s legacy LCD and chip technology find new home in India – Nikkei Asia

    How Japan’s Breakthrough LCD and Chip Technologies Are Driving Innovation in India

    ITSWC 2025: Thursday sessions guide – Traffic Technology Today

    Your Ultimate Guide to Thursday Sessions at ITSWC 2025

    MC Machinery Technology Summit Showcases Manufacturing Innovations – Modern Machine Shop

    MC Machinery Technology Summit Unveils Cutting-Edge Manufacturing Innovations

    US-ROK Technology Cooperation Faces Rising Tensions – The National Interest

    Rising Tensions Put US-South Korea Technology Partnership to the Test

    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

IMF Advices CBN Against Waivers for Deposit Banks

May 10, 2024
in Business
IMF Advices CBN Against Waivers for Deposit Banks
Share on FacebookShare on Twitter

International Monetary Fund, IMFInternational Monetary Fund

FIRS

IMF Advices CBN Against Waivers for Deposit Banks

The International Monetary Fund (IMF) has strongly urged the Central Bank of Nigeria (CBN) to unwind the regulatory forbearance granted to Deposit Money Banks during the COVID-19 pandemic.

It also cautioned against the Federal Government over the proposed amendment to the Act establishing the apex bank, saying the autonomy of the central bank must be preserved.

The position of the Fund was contained in the Article IV Staff Consultation Report of the Board of Governors of the global organisation, which was released on Thursday in Washington DC, United States.

Although the fund didn’t give details on the waivers granted to the banks, it emphasised the importance of close monitoring of the institutions for financial sector risks.

The report read, “Directors emphasised the importance of close monitoring of financial sector risks. They supported the increase in the minimum capital for banks and urged the CBN to unwind the regulatory forbearance introduced during the pandemic. Directors acknowledged the recent improvements in the AML/CFT framework and called for sustained action to exit the FATF grey list. They supported the authorities’ efforts to foster financial inclusion and deepen the capital market.”

The IMF asserts that the legal and operational framework surrounding monetary policy in Nigeria needs fortification.

Furthermore, the IMF lamented the absence of a clear hierarchy among the objectives of the CBN, coupled with the inclusion of government representatives on the Board of Directors and potentially the Monetary Policy Committee, as outlined in the 2007 CBN Act.

This situation, according to the IMF, hinders the effectiveness of monetary policy operations and creates ambiguity in terms of accountability to the public.

It also stressed that the 2007 CBN Act needs to be modernised as recommended by the 2021 Safeguards Assessment, to enshrine the primacy of price stability, and strengthen central bank autonomy and governance arrangements. There is heavy reliance on monetary financing of the fiscal deficit.

The report read in part, “Directors supported the authorities’ intentions to shift to an inflation targeting regime and recommended strengthening central bank independence and communication to ensure a successful transition.

“They recommended caution regarding amendments to the Central Bank of Nigeria Act that might weaken the central bank’s autonomy. They encouraged further progress in implementing the outstanding recommendations from the 2021 safeguards assessment.

“Directors commended the authorities for restarting the cash transfer programme and emphasised the urgency of scaling it up to mitigate acute food insecurity. They welcomed the authorities’ work on a comprehensive revenue mobilization strategy including boosting tax enforcement and broadening the tax base.

“They stressed the importance of keeping a tight monetary policy stance to put inflation on a downward path, maintaining exchange rate flexibility, and building reserves. Directors welcomed the removal of foreign exchange market distortions and encouraged the authorities to continue improving the functioning of the FX market, including by adopting a well-designed FX intervention framework.”

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : EconomicConfidential – https://economicconfidential.com/2024/05/imf-advices-cbn-against/?utm_source=rss&utm_medium=rss&utm_campaign=imf-advices-cbn-against

Tags: advicesAgainstbusiness
Previous Post

Nigeria Spends $1.12bn on Foreign Debt Servicing in Q1

Next Post

Ebenezer Olufowose replaces Tunde Odukale as chairman of FirstBank

Hottest engine in the world reveals weirdness of microscopic physics – New Scientist

The World’s Hottest Engine Unveils the Strange Secrets of Microscopic Physics

August 29, 2025
Secretary Greg Reed: ‘If we’re going to grow the economy, we must be able to grow the workforce’ – Yellowhammer News

Secretary Greg Reed: Expanding the Economy Starts with Growing the Workforce

August 29, 2025
South Park Is In Trouble And Needs To Change Course, Fast – yahoo.com

South Park Faces Major Challenges and Must Adapt Fast to Survive

August 29, 2025
RFK Jr. praises Texas for implementing his health vision – The Texas Tribune

RFK Jr. Applauds Texas for Leading the Way in His Bold Health Vision

August 29, 2025
Former special counsel Jack Smith responds to federal investigation against him about his prosecution of Donald Trump – CNN

Former Special Counsel Jack Smith Breaks Silence on Federal Investigation Into His Trump Prosecution

August 29, 2025
Lake Tanganyika cichlids partition habitat by time – Nature

How Lake Tanganyika Cichlids Share Their Habitat by Time to Thrive

August 29, 2025
Ancient Life “Wakes Up” After 100 Million Years Under the Seafloor – IFLScience

Ancient Life Resurfaces After 100 Million Years Hidden Beneath the Seafloor

August 29, 2025
Golden Apple: Seward science teacher helps students soar – KOLN | Nebraska Local News, Weather, Sports | Lincoln, NE

Golden Apple Award: Seward Science Teacher Inspires Students to Soar

August 29, 2025
Maverick Lifestyle Inc.’s Beta Climbs After Market Volatility getLinesFromResByArray error: size == 0 – thegnnews.com

Maverick Lifestyle Inc.’s Beta Climbs After Market Volatility getLinesFromResByArray error: size == 0 – thegnnews.com

August 29, 2025
13 Top Technology Trends (2025) – Exploding Topics

13 Game-Changing Technology Trends to Watch in 2025

August 29, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (796)
  • Economy (816)
  • Entertainment (21,695)
  • General (16,744)
  • Health (9,857)
  • Lifestyle (829)
  • News (22,149)
  • People (816)
  • Politics (823)
  • Science (16,025)
  • Sports (21,314)
  • Technology (15,796)
  • World (798)

Recent News

Hottest engine in the world reveals weirdness of microscopic physics – New Scientist

The World’s Hottest Engine Unveils the Strange Secrets of Microscopic Physics

August 29, 2025
Secretary Greg Reed: ‘If we’re going to grow the economy, we must be able to grow the workforce’ – Yellowhammer News

Secretary Greg Reed: Expanding the Economy Starts with Growing the Workforce

August 29, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version