By Kayode Tokede The Central Bank of Nigeria (CBN) has denied planning to nationalise Unity Bank Plc as alleged by an online news medium. Reacting to the report, the Acting Director, Corporate Communications Department, CBN, Osita Nwanisobi, described it as,…
The Federal Ministry of Finance, Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Nigeria Exchange Group (NGX), are among the top agencies and institutions to headline the Investors Conference organized by the Association of Asset Custodians of Nigeria…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) on Tuesday officially increased the exchange rate for cargo clearance from its initial N381 per dollar to N404. 97 per dollar, even as freight forwarders have raised an alarm of imminent…
The Central Bank of Nigeria (CBN) has displayed its commitment towards the development of the Foreign Exchange (FX) market and indeed, the Nigerian financial market, as the apex bank, in collaboration with FMDQ Securities Exchange Limited (FMDQ) and FX Authorised…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that foreign exchange buffer dropped by $1.14trillion in five months of 2021. The foreign reserves opened 2021 at $35.37billion and closed May 28, 2021 at $34.23billion. Analysts have attributed…
By Kayode Tokede The Central Bank of Nigeria (CBN) on Tuesday engaged stakeholders in the Cotton, Garment and Textile (CTG) industry on how to revamp the industry towards economic diversification and sustainable growth. The stakeholders, representing different associations within the…
The Central Bank of Nigeria (CBN) has issued a regulatory framework for a risk-free operation of non-bank merchant acquiring in the country. The guideline, released yesterday and signed by the Director, Payments System Management Department, Musa Jimoh, said the document…
By Kayode Tokede The Central Bank of Nigeria (CBN) has said the foreign exchange dropped by $106.2million to $34.25billion as at May 27,2021 from $34.35billion reported May 20, 2021. The nation’s foreign exchange buffer in May has been on a…
The Central Bank of Nigeria (CBN) has said Naira closes flat at N410.25 against the Dollar at The Nigerian Autonomous Foreign Exchange Rate Fixing (NAFEX) market on Wednesday. In what could be another step in the gradual harmonization of exchange…
The Central Bank of Nigeria (CBN) has debited banks a total of N120.2 billion for failing to meet its Cash Reserve Ratio (CRR) policy CRR debits implemented by the CBN from time to time and estimates over N10 trillion has…
