By Salisu Na’inna Dambatta The ongoing CBN-inspired recapitalisation for banks has serious implications for the banking sector, the equity capital market, the Nigeria Deposit Insurance Corporation of Nigeria (NDIC) and Northerners. The recapitalisation will make the banking sector stronger and…
The Nigeria Deposit Insurance Corporation (NDIC) has lauded the Central Bank of Nigeria (CBN) for its move to recapitalise banks to achieve economic resilience in the country. The Managing Director of NDIC, Mr Bello Hassan, made the commendation on Friday…
A Central Bank of Nigeria (CBN) employee, Mr Monday Osazuwa, on Friday told an Ikeja Special Offences Court how the former apex bank governor, Godwin Emefiele, on different occasions, directed him to collect three million dollars cash in tranches. Osasuwa,…
The Central Bank of Nigeria (CBN’s) directive stopping the use of Non Export Domiciliary Account Collateral for naira loans will boost dollar liquidity, support reserves accretion and strengthen the financial services sector, President, Association of Bureaux De Change Operators of…
Importers in Nigeria have received a welcome reprieve as the Central Bank of Nigeria (CBN) announced a further reduction in the exchange rate used for calculating Customs duties at the nation’s seaports. According to information obtained from the official trade…
The Nigerian naira has continued its upward trajectory, reaching a rate of 1,200 against the US dollar on the black market following an adjustment by the Central Bank of Nigeria (CBN). This marks a significant appreciation from the previous rate…
…Apex Bank prohibits use of Foreign currency as collateral for loans In a decisive move to tackle currency volatility, The Central Bank of Nigeria has once again announced the sale of dollars to Bureau De Change (BDC) operators, according to…
The Central Bank of Nigeria, CBN, has prohibited the use of Foreign Currency-denominated collaterals for Naira loans by all Nigerian banks. The apex bank disclosed this on Monday in a letter to all commercial banks signed by its Director Banking…
The Association of Bureaux De Change Operators of Nigeria (ABCON), the umbrella body of all Central Bank of Nigeria (CBN)-Licensed Bureaux De Change (BDCs) in Nigeria has appealed to the Apex Bank to adjust and lower its applicable Exchange Rate…
The Federal Government of Nigeria, through the National Identity Management Commission (NIMC) in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), has launched an innovative identity solution with payment functionality for all types…
