The naira has appreciated by 0.68 per cent against the United States dollar on the Investor & Exporter forex window. The local currency closed at N763/$ on Tuesday, compared to N768.17/$ at the close of trading on Monday. There was…
In the recently released ‘Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023’ document, the apex bank asked financial institutions to use the social media handle, amongst other things, of their customers to verify their identity. There are only 31.6…
By Sodiq Adelakun Currency in circulation in the country rose by 157.27 per cent at the end of March to N2.53 trillion as of the end of May, latest figures from the Central Bank of Nigeria (CBN) have revealed. According…
Following the Central Bank of Nigeria’s (CBN) new foreign exchange policy, real estate stakeholders are optimistic that the demand for luxury dollar-priced rental properties may rebound. The downturn in the economy, coupled with uncertainties in the foreign exchange market has…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has raised the bar on know your customer (KYC) protocols and charged financial institutions (FIs) on implementations. However, the regulations raised questions on the line between KYC and the right to…
…Requiring social media handles would affect right of freedom of expression —SERAP By Sodiq Adelakun The Socio-Economic Rights and Accountability Project (SERAP) has urged Acting Governor, Central Bank of Nigeria (CBN), Mr Folashodun Shonubi, to “immediately delete the patently unlawful…
The Socio-Economic Rights and Accountability Project, SERAP has urged the Central Bank of Nigeria, CBN to immediately withdraw its recently published Customer Regulations which directed financial institutions to obtain information on customers’ social media handles for the purpose of identification.…
The Central Bank of Nigeria on Thursday admonished students and management of tertiary institutions in the country to adopt the e-Naira for payment of tuition fees, salaries, and other transactions in view of its benefits. The Assistant Director, CBN Ekiti…
…pegs cash deposits to $10k By Sodiq Adelakun The Central Bank of Nigeria (CBN) has removed the restrictions on domiciliary accounts and has increased the cash deposits to $10,000 daily. The bank confirmed this development in a statement on Sunday…
By Sodiq Adelakun The Central Bank (CBN) has said that the status quo remains on the 43 non-eligible items banned from the forex market introduced under Godwin Emefiele leadership as CBN Governor. The items are not permitted to be funded…
