Armed robbers reportedly attacked a convoy of bullion vans belonging to the Central Bank of Nigeria, CBN, at Hawan Kibo, along Jos – Abuja road on Tuesday, killing two policemen in the process. It was gathered that the bullion vans and their convoy of armed mobile police escorts had left Jos in the early hours […]
Continue ReadingThe Central Bank of Nigeria (CBN) has directed agent banks to approved international money transfer operators to sell foreign currency accruing from inward money remittances to licenced Bureau De Change operators (BDCs).The directive came in a circular dated July 22, 2016 and posted on its website. The circular, signed by the Acting Director, Trade and […]
Continue ReadingNigeria’s Apex bank, the Central Bank of Nigeria, CBN, has issued a statement affirming that contrary to ongoing rumours, the Nigerian banking industry remains very healthy with none of the player in the sector distressed.The CBN made this public in a statement issued on Wednesday in reaction to rumours and speculations that some of banks […]
Continue ReadingThe Central Bank of Nigeria (CBN), has introduced a new forex regime, one purely determined by market forces. Bellow is the full speech of the CBN governor, introducing Nigeria’s Flexible Exchange Rate Market. Re-introducing and Operationalizing Nigeria’s Flexible […]
Continue ReadingThe Central Bank of Nigeria (CBN) is set to release new foreign exchange guidelines on Wednesday, June 15, 2016.The apex bank made the announcement via its Twitter account on Tuesday night. In the tweet, the Bank said: “CBN set to release new Guidelines on flexibility in the Foreign Exchange Market structure on Wednesday, June 15, […]
Continue ReadingThe Sub-committee on Payments Systems and Infrastructure of the Bankers Committee, last week sent a proposal to the Central Bank of Nigeria (CBN), seeking to limit over the counter cash withdrawal by bank customers to N10,000. The proposal was presented at the committee’s meeting but it is not clear whether it was considered. The CBN […]
Continue ReadingMr. Godwin Emefiele, Governor of the Central Bank of Nigeria, has said over $20billion is lazed in domiciliary account of private individuals at a time when the country is facing foreign exchange crisis. Emefiele made this comment at a session of the joint committee on appropriation of the National Assembly yesterday. The CBN governor who […]
Continue ReadingThe Central Bank of Nigeria (CBN), revealed it has so far disbursed N64.7 billion of the N213 billion appropriated for power sector intervention. The money was earmarked in February to tackle the poor power supply in the country. Mr Boma Benebo, Deputy Head, Infrastructure Development Finance Office, CBN, disclosed this after inspecting 62,021 prepaid meters […]
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