Fire has razed a portion of the Central Bank of Nigeria, CBN, office in Benue State. It was reported that a portion of the bank located around old GRA in Makurdi, Benue State went up in flames on Thursday. The fire was said to have started from the fuel dome of the bank at about […]
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The Peoples Democratic Party (PDP) has demanded the resignation and investigation of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, immediately following his appearance in certain All Progressives Congress (APC) campaign posters suggesting that he has partisan affiliation and entanglement with the APC. The PDP in a statement issued on Friday by […]
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Nigeria’s Senate, on Wednesday, confirmed the nominations of seven members of the Monetary Policy Committee of the Central Bank of Nigeria (CBN). It could be understood that the confirmation of the nominees followed the consideration of a report by the Committee on Banking, Insurance and Other Financial Institutions. The report was laid and presented by […]
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Nigeria’s Aviation Minister, Hadi Sirika, has urged President Muhammadu Buhari to direct the Central Bank of Nigeria to provide foreign exchange for the importation of Jet A1 fuel. The country’s aviation sector is facing a severe crisis, which almost led to the shutdown of operations. Airline operators increased air tickets by 100 percent to N50,000 […]
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The House of Representatives Nigeria, has called on the Central Bank of Nigeria (CBN) to put in place stringent measures to regulate and guide the Point of Sale (POS) business Operations in Nigeria. Moving the motion at the plenary on Thursday, Hon. Jimoh Olajide the POS is where customers make payments for products or services […]
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The Central Bank of Nigeria (CBN), has announced a reduction of fees for electronic banking operations in its published guidelines to banks and other financial institutions on Thursday, 27th January 2022. The Apex bank said the review was in response to “further evolution in the financial industry in the last few years.’’ The Amended guideline, […]
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The Central Bank of Nigeria has reacted to condemnations trailing the directive to Deposit Money Banks (DMBs) to desist from transacting in cryptocurrencies. In a statement on Sunday by Osita Nwanisobi, it’s Acting Director, Corporate Communications, clarified that the CBN circular of February 5, 2021 did not place any new restrictions on cryptocurrencies. Nwanisobi recalled […]
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The Central Bank of Nigeria has announced that beneficiaries of diaspora remittances through the international monetary transfer operators (IMTO) can now such inflows in foreign currency (US Dollar) through the designated bank of their choice. The apex bank in a statement signed by O.S. Nnaji, director of trade & exchange of CBN, said recipients of […]
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The Central Bank of Nigeria (CBN) says it will henceforth decline payment of foreign exchange to form M applicants who do so through a company and agent, thereby eliminating third parties. According to a memo signed by O.S. Nnaji, the director of trade and exchange department at the bank, the CBN will now pay the […]
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The Central Bank of Nigeria (CBN), on Thursday said it plans to fund the value chains of nine agricultural commodities to the tune of N432bn in the 2020 planting season. CBN outlined the nine commodities to include rice, cotton, oil palm, tomato, cassava, poultry, fish, maize, cocoa and livestock/diary. Senior officials of the bank disclosed […]
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