The Central Bank of Nigeria (CBN) has advised all Deposit Money Banks (DMBs) accredited Cheque Printers/Personalisers, and the Nigeria Interbank Settlement System (NIBSS), to enlighten their customers on the revised cheque book, introduced across all banks. Director, Banking Services Department,…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that the foreign reserves gained $1.13 billion in 13 days. Our correspondent gathered that the foreign exchange buffer between December 31,2020 to January 21, 2021 moved from $35.37billion to…
The Central Bank of Nigeria (CBN) has vowed to sanction international money transfer operators (IMTOs) that are still, despite its directive, paying remittances in the local currency, naira. The bank had in December 2020 directed that IMTOs and commercial banks…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disbursed N14.35 billion to electricity distribution companies (DisCos) to procure 263,860 meters for electricity consumers in the country. This was disclosed on Thursday, via the official twitter handle of the…
By Kayode Tokede Naira traded flat at N379 against the dollar at the interbank market of the Central Bank of Nigeria (CBN) on Tuesday. However, the local currency at the Investors & Exporters Foreign Exchange (I & EFX) window, the…
By Kayode Tokede About 300,000 metric tonnes of maize are soon to be released into the Nigerian market from strategic anchors under the Anchor Borrowers’ Programme (ABP) of the Central Bank of Nigeria (CBN), which watchers believe will reduce the…
Analysts have said Nigeria’s benchmark Monetary Policy Rate (MPR) has been predicted to rise by 200 basis points to 13.5 per cent in 2021, up from the 11.5 per cent it is presently. Bloomberg Economics made the prediction in the…
By Kayode Tokede The Central Bank of Nigeria (CBN) has released the Framework for regulatory sandbox operations, to ensure the safety and stability of the Nigerian Financial System, among other things and framework Quick Response (QR) code payments. On regulatory…
By Kayode Tokede The Central Bank of Nigeria (CBN) has said currency in circulation hit all-time high at N2.91 trillion in December 2020. The reported data by CBN in December is however, 29.3 per cent and 9.4 per cent Year-on-Year…
By Kayode Tokede The Central Bank of Nigeria (CBN) has made commitment to support Nigeria Customs Service (NCS) to promote technology driven service to boost the nation’s economy. The NCS Public Relations Officer, Mr Joseph Attah made this known in…
