The House of Representatives have asked the Central Bank of Nigeria (CBN) to immediately suspend the recapitalisation of Microfinance Banks (MfBs). This followed the adoption of a motion by Rep. Saidu Abdullahi ( APC-Niger) on the floor of the House…
By Kayode Tokede The Central Bank of Nigeria (CBN) has approved 10 new International Money Transfer Operators (IMTOs) in the country. The move by the apex bank is to boost Diaspora remittance and improve foreign exchange liquidity in the country.…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that the foreign reserve dropped by $35.9million in one day from $35.22billion on Monday to $35.18billion on Tuesday. Our correspondent gathered that foreign reserves in April have been on…
…directive to discourage hoarding, improves liquidity — ABCON President By Kayode Tokede The Central Bank of Nigeria (CBN) has warned that Deposit Money Banks (DBMs)/ authorized foreign exchange dealers who refused to accept old/lower denomination of US Dollar from customers…
Dwindling oil prices has been attributed to the decline in Nigeria’s foreign exchange inflow to $5.47billion in January 2021, the latest from the Central Bank of Nigeria (CBN) has revealed. The figures obtained from the apex bank which placed aggregate…
…records N485.51bn fiscal deficit …as Banks, others borrow N492.50bn By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that the Federal government between December 2020 and January 2021 generated a sum of N1.64trillion from Oil and Non-Oil sectors.…
By Kayode Tokede The Securities and Exchange Commission (SEC) says it is working with the Central Bank of Nigeria (CBN) for better understanding and regulation of cryptocurencies in the country. The Director-General, SEC, Lamido Yuguda, said this at the 2021…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that the nation’s foreign reserves gained $61.2million in three days from $35.14 billion on Monday to $35.19billion as at Wednesday. The foreign reserves, according to Nigerian NewsDirect investigation reached…
By Kayode Tokede The Central Bank of Nigeria (CBN) has asked all Development Finance Institutions (DFIs), Microfinance Banks (MfBs), Primary Mortgage Banks (PMBs) and Finance Companies (FCs) in the country to register on its credit risk management system (CRMS). This…
The Central Bank of Nigeria (CBN) has reportedly suspended finTechs and other third-party partners from offering Biometric Verification Number (BVN) validation service. This was made known in an email from Paystack to customers which stated, “We’ve recently been made aware…
