By Sodiq Adelakun The Central Bank of Nigeria (CBN) is set to hold a Treasury Bills (T-Bills) Primary Market Auction (PMA) today, Wednesday, March 13. T-Bills are short-term securities that mature in 1 year or less and are used by…
By Sodiq Adelakun In a move to streamline banking operations, the Central Bank of Nigeria (CBN) has issued a stern warning to all deposit money banks, licensed non-interest banks, and other authorised dealers. The warning, articulated by the Director of…
…Akpabio stresses need for comprehensive expenditure probe, calls for stakeholder engagement By Sodiq Adelakun The Nigerian Senate has taken decisive steps to investigate the disbursement of a staggering N30 trillion by the Central Bank of Nigeria (CBN) through its “Ways…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has called on Microfinance Banks (MfBs) to submit their monthly returns through the FinA application in a timely manner. In a circular addressed to all MfBs, the CBN expressed concern over…
The Central Bank of Nigeria (CBN, has urged all Microfinance Banks (MfBs) to ensure prompt rendition of statutory monthly returns through FinA application. This is contained in a circular signed by Valentine Ururuka, the Director, Financial Policy and Regulation Department…
The Central Bank of Nigeria (CBN) has disclosed that foreign remittances surged to $1.3 billion in February 2024. The Bank’s Acting Director of Corporate Communications Mrs. Sidi Ali, revealed this on Thursday. Sidi said that overseas remittances reached $1.3 billion in…
By Sodiq Adelakun In a significant move to advance the adoption of Nigeria’s digital currency, the Central Bank of Nigeria (CBN) has entered into a strategic partnership with blockchain firm Gluwa. The collaboration, formalised through a Memorandum of Understanding (MoU),…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has once again increased the exchange rate for calculating Customs duties at the nation’s seaports. The Customs duty rate was raised from N1,544.081/$ to N1,560.511/$ on Wednesday, March 6, 2024. This…
By Sodiq Adelakun Former President of the Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekwe, has praised the Central Bank of Nigeria (CBN) for revoking the operational licenses of 4,173 Bureaux De Change (BDC) operators. Nzekwe expressed his…
The Central Bank of Nigeria (CBN) has successfully sold N1.053 trillion ($680 million) worth of government securities as part of its liquidity management exercise. The sale, which was oversubscribed, saw 79 percent of the total bids, equivalent to $530 million,…
