By Ogaga Ariemu The Central Bank of Nigeria’s (CBN), recent restrictions on cryptocurrency has sparked several debates amongst Nigerians with vary viewpoints, however the Apex bank’s action has become a major blow to Nigeria’s Digital Economy. This is so because…
By Kayode Tokede with News Agency Capital Market experts on Monday expressed optimism that the ban on cryptocurrencies by the Central Bank of Nigeria (CBN) would likely trigger enhanced activities in the nation’s stock market. They said this in an…
By Idris Bakare Amid critic from stakeholders, the Central Bank of Nigeria “CBN) has said it does not plan going back on its latest policy on cryptocurrency ban on Deposit Money Banks (DBMs) and Other Financial Institutions (OFIs). The bank,…
By Joshua Elekwachi, Abuja Mixed reactions have continued to trail Central Bank of Nigeria’s (CBN) directive to all banks and other financial institutions to close accounts of persons or entities involved in cryptocurrency transactions within their systems. In January 2017,…
By Joshua Elekwachi, Abuja The Central Bank of Nigeria (CBN) has said country’s foreign reserves gained $929.2million in January to $36.3 billion from $35.37billion it opened 2021. The gain of foreign reserves in January, according to analysts was due to…
The Governor of Central Bank Governor, Mr Godwin Emefiele, says that the bank will partner government and relevant private sector organisations to provide modern facilities in the heath sector and sponsor research on Coronavirus Disease (COVID-19) in the country. Emefiele…
The Central Bank of Nigeria (CBN) has warned commercial banks and other financial institutions to desist from dealing in crypto currencies as it is illegal. The apex bank stated this on Friday in a statement on its official website by…
By Kayode Tokede Partner and Lead, Digital Transformation, KPMG, Mr Boye Ademola on Wednesday called on the Central Bank of Nigeria (CBN) to initiate a policy on open banking in Nigeria to transform the sector. Ademola made the call during…
By Kayode Tokede The Central Bank of Nigeria (CBN) auctioned N413.41billion worth of Open Market Operation (OMO) in January 2021 compared to N1.54 trillion auctioned in January of 2020. Further findings by Nigerian NewsDirect revealed that, amid weak business activities…
By Kayode Tokede The Central Bank of Nigeria (CBN) on Tuesday disclosed that Non-Performing Loan (NPL) in the banking sector rose to 6.1 per cent in 2020 from 5.88 per cent at end-November 2020. This is above the prudential maximum…
