Despite efforts by the Central Bank of Nigeria (CBN) to bolster the country’s currency, the Naira continues to face a relentless decline, prompting financial experts to emphasise the need for accelerated productivity as the key to strengthening it. Amidst widespread…
By Sodiq Adelakun Despite measures by the central bank to narrow the gap between official and parallel market rates, Nigeria naira, yesterday tumbled to N905 per dollar at the parallel section of the foreign exchange market. Naira continued its depreciation…
The Central Bank of Nigeria (CBN) has berated American Financial Service Institution, JP Morgan, over its recent estimation of the country’s Foreign Exchange (FX) reserves. CBN director of monetary policy department, Hassan Mahmud, who spoke when he featured on Moneyline…
A Central Bank of Nigeria (CBN) licensed International Money Transfer Operator (IMTO), MoMo Payment Service Bank (MoMo PSB) have announced their strategic partnership to facilitate seamless inbound and outbound transfers across Africa, as well as convenient bill payment services. The…
By Sodiq Adelakun The Naira fell as low as N910 against the dollar on Wednesday morning before moderating to the N902/$ levels. Nigerians access this dollar-backed on the P2P market primarily for hedging and transactions. The platform enables many young…
A new report has revealed that the volume of real-time payment transactions in Africa’s biggest economy is projected to hit 8.9 billion in 2027 from 5.1 billion in 2022. The report in its fourth edition was published by ACI Worldwide,…
The Institute of Chartered Accountants of Nigeria (ICAN) has urged the federal government to improve the standard of education to reduce tourism, and foreign exchange pressure. Innocent Okwuosa, the 59th president of ICAN made known the position of the institute…
Union Bank has partnered with its parent company, TGI Group and Women’s World Banking, to introduce the ‘Digital Supplier Credit’ solution under its women’s banking proposition, álpher. The ‘Digital Supplier Credit’ solution is designed to address the financial needs of…
The poise of e-fraudsters has become a major concern to the Central Bank of Nigeria (CBN), its Director, Payment Systems Management, Musa Jimoh. Jimoh said during the Nigerian Electronic Fraud Forum (NeFF) third quarter general meeting in Lagos that there…
By Sodiq Adelakun The Naira fell to N900 per dollar yesterday following a report by JP Morgan that estimates Nigeria’s net FX reserves at $3.7billion, at the parallel segment of Nigeria’s foreign exchange (FX) market. JP Morgan said that Nigeria’s…
