Stakeholders in the capital market have voiced reservations about the proposed amendments to the Central Bank of Nigeria (CBN) Act No. 7 of 2007, warning of potential adverse economic consequences. In a corporate filing with the NGX on Tuesday, the…
The Senate Committee on Banking, Insurance and Other Financial Institutions will on Thursday hold a Public hearing on the proposed Bills seeking to amend the Central Bank of Nigeria Act and the Nigeria Deposit Insurance Corporation Act. This was contained…
…As CBN raises N1.16 trillion from OMO bill auction Nigeria’s foreign exchange market has seen the turnover on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window surge by an astonishing 231.99 percent on May 24, 2024. This development coincides with the Central Bank…
The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that the licensing of 14 new international money transfer operators would improve competition and increase remittances via formal channels. Cardoso said this during the week at the…
The Central Bank of Nigeria has said FX inflows into the country surged by 136 per cent in the first quarter of 2024 compared to last year. CBN governor Olayemi Cardoso, represented by Blaise Ijebor, director of Risk at the…
The Nigerian Ports Authority (NPA) has blamed the Central Bank of Nigeria (CBN) for the decline in Ship-to-Ship (STS) operations and the dearth of the ship bunkering business in Nigeria, saying that the unfriendly policies of the bank is driving…
Nigeria’s money supply dropped marginally to N92.3 trillion in March 2024 from N93.9 trillion in February. This is according to recent data from the Central Bank of Nigeria. Experts have linked the development to CBN’s hike in interest rates. Demand…
…Dismisses concerns, says social media handles not protected by privacy rights …Financial institutions cleared to collect social media handles for KYC By Sodiq Adelakun The Federal High Court in Lagos has ruled in favour of the Central Bank of Nigeria…
The Centre for the Promotion of Public Enterprise (CPPE) has called on the Central Bank of Nigeria (CBN) to slow down on monetary policy tightening ahead of its Monetary Policy Committee (MPC) meeting this month, stating that businesses are yet…
As part of concerted efforts to increase the foreign-currency remittance inflow, the Central Bank of Nigeria (CBN) has granted licenses to 14 new International Money Transfer Operators (IMTOs). The licenses which are Approval-in-Principle (AIP) were disclosed in Abuja on Wednesday…
