The Central Bank of Nigeria (CBN) on Tuesday released guidelines for the establishment and regulation of Payments Service Holding Companies (PSHCs) in Nigeria. The circular issued by CBN’s Director, Payments System Management Department, Mr Musa Jimoh instructed deposit money banks,…
By Aanu Olaleye, Abuja The Central Bank of Nigeria (CBN) has assured bank customers that it would monitor commercial banks to ensure legitimate Foreign Exchange (FX) demands of customers are met. The Acting Director, Corporate Communications, CBN, Mr Osita Nwanisobi,…
The Central Bank of Nigeria (CBN) on Thursday says it will start immediate refund of capital deposit to Bureaux de Change (BDC) promoters with pending applications. According to a circular signed by Ibrahim Tukur for the Director, Financial Policy and…
By Aanu Olaleye, Abuja The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to set up teller points in designated branches for the sale of Foreign Exchange (FX) to Nigerians. The directive was sequel to CBN’s decision…
By Uthman Salami In its quest to improve and boost electricity supply in Nigeria, the Central Bank of Nigeria (CBN) has disbursed N156.33 billion to Distribution Companies (DisCos) in the country. This was made known by CBN in its Monetary…
The Central Bank of Nigeria (CBN), says it has released the sum of N756.51 billion to 3,734,938 small holder farmers, cultivating 4.6 million hectares of land, to boost the Federal Government’s food security initiative. The CBN Governor, Mr Godwin Emefiele …
By Kayode Tokede The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday retained the interest rate also called Monetary Policy Ratio (MPR) at 11.5 per cent for the sixth consecutive time. The CBN Governor, Mr.…
Nigerian manufacturers are experiencing a pileup of inventory of finished goods due to low purchasing power of Nigerians, the Purchasing Managers Index (PMI) of the Central Bank of Nigeria (CBN) has shown. A Monetary Policy Committee (MPC) member, Folashodun Shonubi,…
By Kayode Tokede The Central Bank of Nigeria (CBN) with its stakeholders outlined its digital currency initiative via a private webinar held today. The CBN Governor, Godwin Emefiele had earlier announced that the bank will be working on a central…
The Chairman Senate Committee on Banking Insurance and other Financial Institutions, Senator Uba Sani at the weekend disclosed that the Senate would push and ensure that both the Nigerian Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN)…
