The Central Bank of Nigeria has denied claims that it is preventing Nigerians from transferring money into their accounts. The CBN also warned customers to exercise caution when sending fictitious SWIFT messages while remitting foreign exchange. The apex bank made…
The Central Bank of Nigeria (CBN) has granted banks the approval to trade with foreign currencies deposited under the amnesty initiative for the foreign exchange (FX) deposit window. CBN gave the directive in a document dated November 5, 2024 signed…
The International Monetary Fund (IMF) has expressed support for the Central Bank of Nigeria’s (CBN) recent interest rate hikes and foreign exchange measures, describing them as suitable steps toward stabilising the economy. This endorsement was given by Tobias Adrian, the…
Cryptocurrency usage has continued to grow in Nigeria as Africa’s most populous country grapples with a weakening currency and soaring inflation, New York-based blockchain research firm Chainalysis said in a report on Wednesday. The country, which ranked second overall on…
BUA Cement has announced a dividend payment of N2 per ordinary share to its registered members during the 8th Annual General Meeting held on August 29, 2024. The company also ratified the appointment and re-election of members to key positions…
…Nigeria’s macroeconomic now stable — Minister By Seun Ibiyemi The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has announced that the federal government in the next 3-4 weeks will begin the first issuance of its dollar-denominated…
The Central Bank of Nigeria’s sale of foreign currencies to legible Bureau De Change operators gulped $110.81 million from February to July 18, 2024, amid measures implemented to defend the Naira. This is according to CBN circulars on the release…
The Central Bank of Nigeria has directed all Deposit Money Banks to deposit their excess foreign currency notes with its branches in Lagos and Abuja. The apex bank disclosed this in a fresh circular on Friday signed by Solaja Mohammed…
Worried by the growing impact of fluctuating exchange rates for calculating import duties at the ports, the presidential committee on fiscal policy and tax reforms has advised the federal government to adopt an exchange rate of N800 per dollar for…
…As CBN raises N1.16 trillion from OMO bill auction Nigeria’s foreign exchange market has seen the turnover on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window surge by an astonishing 231.99 percent on May 24, 2024. This development coincides with the Central Bank…
