•Naira and Dollars The Central Bank of Nigeria (CBN) has rolled out stringent measures on Bureau De Change (BDCs) as part of measures to tackle the forex crisis in the country. The naira had hit an all-time low of N2,000 against the dollar as the economic crisis in the country took a worse turn, reports […]
The naira gained marginally against the United States dollar at the Nigerian Autonomous Foreign Exchange Market on Tuesday, closing at N1,542.58/$ from N1,551/$ recorded on Tuesday. The rate represents a 2.9 per cent appreciation from the N1,598.54 traded on Monday and a meagre 0.58 per cent against Tuesday’s rate, reports The PUNCH. According...
The Senate today, Wednesday, February 21, screened nominees for membership of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). President Bola Tinubu had last week forwarded to the Senate for confirmation, the names of nominees for appointment as MPC members, reports The Nation. During the session, the Senator Tokunbo A...
Despite efforts by the Central Bank of Nigeria (CBN) to restore sanity in the foreign exchange market by rolling out three new circulars, the naira suffered a further slide at the weekend. The naira experienced another decline in both the official and parallel foreign exchange markets on Friday, reports Daily Independent. At the parallel mar...
In a move to solve the foreign exchange crisis in the country, the Central Bank of Nigeria (CBN) says Personal and Basic Travel Allowances will only be paid through electronic channels and not by cash. The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated […]
•Dollars The Central Bank of Nigeria (CBN) has stopped international oil companies from repatriating 100% foreign exchange proceed to their mother companies overseas. The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated February 14, 2024. … developing story
•Tinubu President Bola Tinubu today,Tuesday, February 13, urged the Senate to screen and confirm the nomination of five persons for appointment as directors of the Central Bank of Nigeria (CBN) board. Tinubu’s request was contained in a letter addressed to the president of the Senate, Godswill Akpiabio, and read at plenary today, reports The N...
•CBN Governor Yemi Cardoso Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN) has stated that the actions taken by the apex bank to stabilize foreign exchange rates have begun to show promising outcomes. He pointed out that since high exchange rates and inflation are strongly associated, the steps would assist in stabilizing [&hel...
The Central Bank of Nigeria, in its recently revised consumer protection framework, has mandated financial service providers to comply with minimum standards in their advertising and promotional materials. One of the requirements is that FSPs should not make reference to unaudited financial statements in their sales promotion, reports The PUNC...
•CBN governor, Olayemi Cardoso The Central Bank Governor, Olayemi Cardoso, has explained that the ongoing initiatives to relocate departments and personnel to other branches are responses to the current “overpopulation” at the headquarters. Cardoso stated these in an interview with Arise TV today. The governor, lamenting the sensational slant ...
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