Money market

Naira depreciates by 1.3% to N410.00/$

The naira weakened by 1.3 per cent to N410.00 against the dollar at the Investors & Exporters Foreign Exchange (I&E FX) window on its week-on-week (w/w) performance. The local currency also dropped by 1.1per cent wow to N478.00 against the…

CBN issues regulatory framework for open banking

By Kayode Tokede The Central Bank of Nigeria (CBN) in line with its mandate to promote financial system stability, has issued the Regulatory Framework for Open Banking in Nigeria. According to document accessed by our correspondent, “The framework establishes principles…

CBN gives new order to banks on dollar accounts

By Kayode Tokede The Central Bank of Nigeria (CBN) has mandated commercial banks to open new dollar account with offshore lenders for receiving international money transfers. The directive was disclosed by WorldRemit- an International Money Transfer Operators (IMTO) player to…