By Kayode Tokede The Central Bank of Nigeria (CBN) in line with its mandate to promote financial system stability, has issued the Regulatory Framework for Open Banking in Nigeria. According to document accessed by our correspondent, “The framework establishes principles…
By Kayode Tokede The Central Bank of Nigeria (CBN) has mandated commercial banks to open new dollar account with offshore lenders for receiving international money transfers. The directive was disclosed by WorldRemit- an International Money Transfer Operators (IMTO) player to…
By Kayode Tokede The Central Bank of Nigeria has disclosed that Deposit Money Banks (DMBs) and merchant bank through the Standing Deposit Facility (SDF) average deposit dropped by N21.87billion in 2020. The economy half-year activity report of the apex bank…
The Central Bank of Nigeria (CBN) has disclosed that it defended naira with $10.31billion as at half year ended June 2020. The apex bank in its half-year activity report on Wednesday said it continued with its intervention in the inter-bank…
By Joshua Elekwachi, Abuja The Association of Capital Market Academics of Nigeria (ACMAN) has urged the Central Bank of Nigeria (CBN) to scale up interventions in the agriculture sector to stem the rising inflation figure.ACMAN President, Prof. Uche Uwaleke, said…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that the federal government spent a total of $9.76 billion on debt services between 2015 and 2020. The breakdown by CBN revealed that $1.3 billion was spent on debt…
By Kayode Tokede The Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions to, henceforth, accept Machine Readable Travel Documents (MRCTD) and Refugee Identification Card, as means of identification for financial transactions. The directive was given…
The Central Bank of Nigeria (CBN) has disclosed that total remittances from Diaspora dropped by 71.2 per cent to $5.5billion in 2020 to undermined the effect of global COVID-19 lockdown. The international payments data of the apex bank revealed that…
The Federal High Court, Abuja, on Wednesday, ordered the Central Bank of Nigeria (CBN) to unfreeze the bank accounts of the 20 #EndSARS promoters. Justice Ahmed Mohammed gave the ruling following the agreement reached by parties in the suit to…
By Ogaga Ariemu The Central Bank of Nigeria’s (CBN), recent restrictions on cryptocurrency has sparked several debates amongst Nigerians with vary viewpoints, however the Apex bank’s action has become a major blow to Nigeria’s Digital Economy. This is so because…
