The Central Bank of Nigeria released $689.88m (N903.95bn at the official exchange rate of N1,309/$ as of March 31, 2024) to Nigerians for importing food items in the first quarter of 2024. It was also gathered that the amount of…
…As CBN settles N400bn First Bank loan By Seun Ibiyemi and Matthew Denis (Abuja) The Central Bank of Nigeria (CBN) says it has no plans to revoke the licences of Unity, Polaris, and Keystone banks. Online reports had claimed the…
The Central Bank of Nigeria on Friday, announced that international oil companies can sell their retained 50 per cent of repatriated export proceeds in the Nigerian Foreign Exchange Market. This decision comes after the CBN placed limits on the transfer…
The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that the licensing of 14 new international money transfer operators would improve competition and increase remittances via formal channels. Cardoso said this during the week at the…
A High Court of the Federal Capital Territory (FCT) in Maitama has granted bail to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. He was granted bail in the sum of N300 million. In a ruling on…
Former Emir of Kano, Sanusi Lamido Sanusi, has said oil production is not enough to make Nigeria rich but can endanger the country. Sanusi made the assertion at the Distinguished Lecture Series of the Nigerian Institute of International Affairs (NIIA),…
Smartcash Payment Service Bank Limited (Smartcash PSB) has partnered with Thunes, a cross-border payments infrastructure provider, to power international remittances in naira to mobile wallets. Smartcash PSB becomes one of the first financial services providers to offer naira payouts to…
PRESIDENT Bola Tinubu has approved the nomination of Olayemi Michael Cardoso to serve as the new governor of the Central Bank of Nigeria, CBN, for a term of five years at the first instance, pending his confirmation by the Nigerian…
The Central Bank of Nigeria has released a series of operational changes to Bureau De Change operations amid the forex crisis. The apex bank disclosed this on Friday in a newly outlined measures to curtail BDCs operations in Nigeria and…
Prominent Taraba indigenes have frowned at Governor Agbu Kefas’ move to secure N206 billion in loans from commercial banks. Abdullahi Usman, an economic analyst, who alleged that the proposed loan violates laws guiding the process of loan application by the…
