The suspension of the ertwhile Governor of the Central Bank of Nigeria (CBN) by President Bola Tinubu had the Naira appreciate immediately which symbolised a good omen in forex market but the situation worsened with Naira trending now between N780…
PRESIDENT Bola Tinubu has approved the nomination of Olayemi Michael Cardoso to serve as the new governor of the Central Bank of Nigeria, CBN, for a term of five years at the first instance, pending his confirmation by the Nigerian…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has recently taken a firm stance against International Money Transfer Operators (IMTOs), cautioning them against engaging in foreign exchange arbitrage within the country. This move comes as the CBN aims to…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has denied rumors of a new naira policy that would crash the dollar exchange rate to N1.25 A report circulating online claimed that the apex bank was considering a new foreign…
…Aims to strengthen financial stability By Sodiq Adelakun Commercial banks in Nigeria have been instructed by the Central Bank of Nigeria (CBN) to refrain from using their foreign exchange revaluation gains for dividends and operational expenses. The directive, which was…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has revealed that the total Assets of the banking industry increased by 47.21 per cent to N30.92 trillion just as the industry’s Non-Performing Loans (NPLs) declined to 4.1 per cent as…
By Ibiyemi Mathew The Central Bank of Nigeria (CBN) has been advised to grant digital autonomy to Bureaux De Change (BDCs) operators in the country to enhance the achievement of the federal Government harmonized foreign exchange rate policies. The Association of Bureaux De…
The Central Bank of Nigeria (CBN) is set to crack down on Bureau De Change (BDC) operators involved in illegal transactions. The apex bank has completed an investigation into one BDC called Crown Agent and will soon take action against…
The Acting Governor of the Central Bank of Nigeria, Folashodun Shonubi, has announced that the bank will repay all outstanding forward contract debts owed to banks within the next one to two weeks. While the total amount of the debts…
… Apex bank contributes less than 25% of total volume — CBN Acting Gov. The Central Bank of Nigeria (CBN) has recently revealed its intention to resolve the unmet demand for foreign exchange (FX) among investors and exporters. To achieve…
