By Konyinsola Dawodu The Nigeria Customs Service (NCS) has informed the public that it does not determine exchange rate. Public Relations Officer, Deputy Comptroller Timi Bomodi made the clarification in a statement on Wednesday. The spokesman referred to reports which…
The Central Bank of Nigeria (CBN’s) strategy of an efficient payment system through the introduction and implementation of the e-Naira is a laudable effort that is contributing to the success of our digital economy. According to the Buhari Media Organisation…
The Crude Oil Refiners Association of Nigeria (CORAN), the umbrella body of indigenous crude oil refiners, has appealed to the Central Bank of Nigeria(CBN) to create a crude refinery intervention fund for its members. Its Secretary, Mr Olusegun Ilori, made…
Flutterwave, Africa’s leading payments technology company has been granted a Switching and Processing License by the Central Bank of Nigeria (CBN). The licence, which is widely regarded as CBN’s most valuable payments processing licence allows Flutterwave to offer transaction switching…
The Central Bank of Nigeria (CBN) has stated that Nigeria’s high inflation would further reduce the value of the Naira/ as imported products become more expensive. This was disclosed by Dr Omamegbe Mo, a member of CBN’s Monetary Policy Committee.…
Central Bank of Nigeria (CBN), in the month of August has sold a total of N446.15bn in Treasury bill auctions. This was 9.47 per cent higher than the N407.55bn allotted in June. Specifically, for the 91-day tenor, the CBN sold…
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji, says there is urgent need to diversify the Nigerian economy to spur growth. Nnaji made the call during the weekend, at the 33rd Seminar for…
The Central Bank of Nigeria (CBN) has unveiled the Unstructured Supplementary Service Data (USSD) for its eNaira to enhance financial inclusion in the country. The CBN Governor, Godwin Emefiele said this during the inauguration of the USSD transaction code at…
The Central Bank of Nigeria (CBN) has reversed the five per cent interest rate on all its intervention facilities to nine per cent per annum, effective September 1, 2022. This was contained in a circular signed by the Director of…
The Central Bank of Nigeria (CBN) has ordered banks in Nigeria to pay savings deposit accounts an interest rate of at least 4.2 per cent, an increase from the 1.4 per cent previously received. This was contained in a circular…
