cbn
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Nigeria Central Bank of Nigeria to Sell $25,000 Weekly to BDCs for FX Liquidity
The Central Bank of Nigeria (CBN) has granted Bureau De Change (BDC) operators temporary access to purchase $25,000 weekly from banks to meet increased foreign exchange demand during the yuletide period, from December 19, 2024, to January 30, 2025. This aims to stabilize the retail market and...- Nigeria News
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- 2 min read
- bureau de change cbn foreign exchange yuletide season
- Category: Business
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Nigeria CBN Imposes N100,000 Daily Withdrawal Limit on PoS Transactions
The Central Bank of Nigeria (CBN) has introduced limits on Point of Sale (PoS) withdrawals, capping daily transactions at N100,000 per customer. This new measure aims to promote a cashless economy, combat fraud, and enforce consistent operational standards, with penalties for non-compliance...- Nigeria News
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- cashless economy cbn daily withdrawal limit nigeria agent banking pos withdrawal limit
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Business Central Bank Of Nigeria Says 94% Of Cash In Circulation Outside Banks And Presently N4.3trillion - Sahara Reporters
https://saharareporters.com/2024/12/15/central-bank-nigeria-says-94-cash-circulation-outside-banks-and-presently-n43trillion- Kayode Israel
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- cbn naija news nigeria news olusoji oluwole sahara reporters news
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- Forum: Business News Links
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Nigeria Old Naira Notes Still Valid, CBN Clarifies After Confusion
The Central Bank of Nigeria (CBN) confirmed that old N200, N500, and N1000 notes remain valid following a Supreme Court ruling. The notes will continue to circulate indefinitely with no deadline for use, despite claims otherwise. Nigerians are encouraged to accept all Naira notes and embrace...- Nigeria News
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- cbn legal tender old naira notes supreme court ruling
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Nigeria CBN Launches Helplines for Cash Scarcity Complaints
The Central Bank of Nigeria (CBN) introduces dedicated phone numbers and emails for Nigerians to report cash withdrawal challenges at banks and ATMs. This initiative aims to improve currency circulation, enforce compliance among banks, and address public concerns about cash scarcity efficiently...- Nigeria News
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- atm issues cash withdrawal cbn nigeria banking system reporting cash scarcity
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Nigeria CBN to Retire 1,000 Staff, Announces ₦50 Billion Exit Plan
The Central Bank of Nigeria (CBN) plans to retire 1,000 employees by December 31, 2024, under a ₦50 billion workforce realignment initiative. Eligible staff will receive financial incentives through the Early Exit Package (EPP), with applications closing on December 7. This move aims to...- Nigeria News
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- cbn cbn staff retirement early exit package cbn yemi cardoso
- Category: Business
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Nigeria CBN to Penalize Banks for ATM Cash Scarcity, Cardoso Warns
The Central Bank of Nigeria (CBN) has warned banks to prioritize cash disbursement through ATMs, threatening severe penalties for non-compliance. Governor Olayemi Cardoso emphasized that banks engaged in sabotage or malpractices will face strict penalties. The CBN also highlighted reforms to...- Nigeria News
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- atm cash scarcity cbn olayemi cardoso
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Business CBN pegs minimum trade on new electronic FX system at $100,000 - Vanguard News
https://www.vanguardngr.com/2024/11/cbn-pegs-minimum-trade-on-new-electronic-fx-system-at-100000/- Kayode Israel
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- cbn omolara duke vanguard news
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- Forum: Business News Links
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![Today's Naira Rate[26-10-2024]: Naira Falls to N1,740/$ in Parallel Market as Official Rates Show Mixed Signals](/data/attachments/209/209550-8e774d4b46f10d5320d33103cc295370.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate[26-10-2024]: Naira Falls to N1,740/$ in Parallel Market as Official Rates Show Mixed Signals
The Naira depreciated to N1,740 per dollar in the parallel market while appreciating to N1,601.2 in the Nigerian Autonomous Foreign Exchange Market. Trading volume in the official market increased by 23%, widening the gap between parallel and official rates to N140 per dollar, signaling ongoing...- Nigeria News
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- cbn currency exchange rate foreign exchange market naira depreciation
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Nigeria CBN’s Olayemi Cardoso Addresses Floating the Naira and Its Impact on Inflation
CBN Governor Olayemi Cardoso explained the rationale for floating the Naira to align official rates with market realities. He highlighted the need for credibility in monetary policy, acknowledging criticism but emphasizing transparency and stability. Cardoso also discussed raising the Monetary...- Nigeria News
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- cbn yemi cardoso
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Business CBN introduces Electronic Foreign Exchange Matching System for FX transactions to curb distortion and speculation - Linda Ikeji’s Blog
https://www.lindaikejisblog.com/2024/10/cbn-introduces-electronic-foreign-exchange-matching-system-for-fx-transactions-to-curb-distortion-and-speculation-2.html- Kayode Israel
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- cbn linda ikeji naija news nigeria news omolara duke
- Replies: 0
- Forum: Business News Links
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Nigeria CBN to Sanction Banks Failing to Dispense Cash via ATMs
The Central Bank of Nigeria (CBN) will penalize banks that fail to dispense cash via ATMs, aiming to ensure sufficient cash availability. CBN Governor Yemi Cardoso announced a monitoring system for compliance and plans to release an additional N1.4 trillion into circulation over the next three...- Nigeria News
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- atim cash shortages cbn pos yemi cardoso
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Nigeria CBN: Dangote Refinery to Lower Transportation Costs and Food Inflation
The Central Bank of Nigeria (CBN) predicts that Dangote Refinery's petrol supply will reduce transportation costs and ease food inflation. The CBN has raised the Monetary Policy Rate to tackle rising inflation, which currently stands at 32.15%, driven by increasing food prices and energy costs...- Nigeria News
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- cbn dangote refinery
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Nigeria Inflation Control: CBN Lifts Interest Rate to 27.25% in Latest MPC Meeting
The Central Bank of Nigeria (CBN) has raised its Monetary Policy Rate from 26.75% to 27.25% to control rising inflation. CBN Governor Olayemi Cardoso announced this decision after the Monetary Policy Committee’s 297th meeting. The increase is aimed at stabilizing the economy by curbing...- Nigeria News
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- cbn cbn interest rate increase monetary policy rate hike nigeria inflation control
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Business CBN says it will continue controversial cybercrime levy at 0.005% in new guidelines - Nairametrics
https://nairametrics.com/2024/09/18/cbn-says-it-will-continue-controversial-cybercrime-levy-at-0-005-in-new-guidelines/- Kayode Israel
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- cbn naija news nairametrics news nigeria news
- Replies: 0
- Forum: Business News Links
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Nigeria Nigeria's $36B Foreign Reserves Face Pressure: CBN Sounds Alarm
Nigeria's central bank warns of risks to foreign reserves due to petrol subsidy removal and lower oil earnings. Despite $36.08 billion in reserves, increased debt servicing and potential capital outflows pose challenges. The CBN remains optimistic, citing favorable trade terms and rising oil...- Nigeria News
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- cbn cbn governor nigerias external reserve yemi cardoso
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Nigeria CBN Approves Dollar Sale to BDCs at N1,580/$ to Support Economic Stability
The Central Bank of Nigeria (CBN) has approved the sale of dollars to Bureau de Change (BDC) operators at N1,580 per dollar, providing each BDC with $20,000 to enhance market liquidity. This move aims to address the demand for invisible transactions amidst ongoing economic challenges. The...- Nigeria News
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- 2 min read
- bureau de change cbn dollar sale foreign exchange
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Nigeria CBN Overhauls NIRSAL Leadership: All Executive Directors Sacked
The Central Bank of Nigeria (CBN) has sacked all executive directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL) as part of a major restructuring effort. Concerns grow over the impact on agricultural financing, with questions arising about NIRSAL’s future...- Nigeria News
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- cbn executive directors nirsal yemi cardoso
- Category: Business
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![Today's Naira Rate[24-08-2024]: Naira Strengthens to N1570.14/$ Amid Dollar's Decline Against British Pound](/data/attachments/207/207580-655662235f6446531fbadf1468b4d487.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[24-08-2024]: Naira Strengthens to N1570.14/$ Amid Dollar's Decline Against British Pound
The Naira strengthened against the US dollar, rising to N1570.14/$, while weakening against the British pound, which hit a two-year high. The Central Bank of Nigeria’s efforts contributed to the Naira’s stability, but businesses still anticipate further depreciation before potential recovery...- Nigeria News
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- british pound cbn central bank of nigeria currency market n1570.14/$ two-year low
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Nigeria CBN Greenlights Merger of Unity Bank and Providus Bank
The Central Bank of Nigeria (CBN) has approved the merger of Unity Bank Plc and Providus Bank Limited, providing financial support to ensure stability. This strategic move aims to bolster Nigeria's financial system, address Unity Bank's obligations, and promote confidence in the banking sector...- Nigeria News
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- 2 min read
- cbn nigeria bank merger unity bank providus bank merger
- Category: Business
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