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 $10,000 daily. The bank confirmed this development in a statement on Sunday…
By Sodiq Adelakun The Central Bank (CBN) has said that the status quo remains on the 43 non-eligible items banned from the forex market introduced under Godwin Emefiele leadership as CBN Governor. The items are not permitted to be funded…
…IMF to support Nigeria as naira appreciates to N663/$ By Sodiq Adelakun The International Monetary Bank (IMF) has backed the Central Bank of Nigeria (CBN) in unifying its foreign exchange Market. Recall that CBN announced operational changes to the foreign…
Economists have continued to give kudos to the Central Bank of Nigeria (CBN) for allowing the Naira to float freely on the Investors and Exporters (I&E) window. Banks are now allowed to trade foreign exchange on the I & E…
The Central Bank of Nigeria, CBN, has confirmed the operational changes to the foreign exchange market. In a statement on Wednesday by Angela Sere-Ejembi, Director, Financial Markets of CBN, the apex affirmed the abolishment of segmentation and all segments are…
