The Central Bank has fined four banks for flouting its directive on cryptocurrency transactions. The CBN had in February 2021 ordered all banks to close accounts of anyone who transacts in cryptocurrency. According to the CBN, dealing in cryptocurrency or…
The International Monetary Fund (IMF) has said Nigeria and other Sub-Saharan African countries face important monetary policy challenges as a fallout of the COVID-19 pandemic. The IMF made this known while explaining why dollar scarcity persists in emerging economies, especially…
The Central Bank of Nigeria (CBN) has advised citizens to patronise only financial institutions regulated by the bank to avoid being duped by scammers. Mr Osita Nwanisobi, the Director, Corporate Communications Department, CBN gave the advice during the CBN fair…
The Central Bank of Nigeria (CBN) has fined Nigerian commercial bank, Stanbic IBTC a total of N200 million for failing to obey the regulations prohibiting cryptocurrencies transactions by consumers. Recall that efforts have been made by the CBN to tighten…
The Debt Management Office (DMO), on behalf of the Federal Government has announced the offer for subscription of the February 2022 Federal Government Savings Bond to investors. This disclosure is contained in a circular issued by the DMO and can…
Ecobank Nigeria is partnering with Ogun State First Lady’s office to organize the maiden edition of the Adire Market Week, an initiative of Mrs. Bamidele Abiodun, wife of the Ogun State Governor and Founder of Ajose Foundation. The fair holds…
The Debt Management Office (DMO) has released schedule of local borrowings of about N720billion by the Federal Government for the second quarter. The schedule is contained in the DMO’s “FGN Bonds Issuance Calendar For The Second Quarter, 2022.” The calendar…
The Federal Competition and Consumer Protection Commission (FCCPC) has announced that it will proceed with prosecution of NCash, LCredit and other online lending apps found guilty of breaking the law guiding the consuming market. This has come as a result…
Trading on the Nigerian Exchange Ltd., (NGX) on Wednesday closed positive, as bargain hunting in Tier-1 banks, including Zenith Bank and Guaranty Trust Holding Company (GTCO), and SEPLAT drove the benchmark index higher. Precisely, the All-Share Index (ASI) inched up…
Despite multiple interventions by the Central Bank of Nigeria to defend the Naira, the Naira fell by N22 in the first quarter of 2022. At the official Investors and Exporters (I&E) market, the naira-US dollar exchange rate has remained constant…
