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Featured: Latest Nigerian News
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Nigeria CBN Enforces Stricter Regulations, Bars Banks and Fintechs from International Money Transfers
The Central Bank of Nigeria (CBN) has announced the prohibition of banks and financial technology companies (fintechs) from offering international money transfer services. This development, outlined in the revised guidelines for the operations of International Money Transfer Operators (IMTOs)...- Nigeria News
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- banking regulations cbn cbn guidelines fintech industry fintechs international money transfer international money transfers
- Category: Business
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Nigeria Central Bank's New Forex Regulations Trigger Varied Sentiments in Nigeria
The Central Bank of Nigeria (CBN) has enacted stringent measures to bolster liquidity in the foreign exchange market, instructing banks to limit their Net Open Position (NOP) of foreign currency assets and liabilities to 20% of shareholders' funds. The directive, issued through a CBN circular...- Nigeria News
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- cbn cbn forex policy naira exchange rate nigeria economy
- Category: Business
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Business CBN orders banks to sell excess dollars in 24 hours - Linda Ikeji’s Blog
https://www.lindaikejisblog.com/2024/2/cbn-orders-banks-to-sell-excess-dollars-in-24-hours-2.html- Kayode Israel
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- Forum: Business News Links
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Business Naira appreciates against US Dollar amid CBN intervention - Daily Post
https://dailypost.ng/2024/02/01/naira-appreciates-against-us-dollar-amid-cbn-intervention/- Kayode Israel
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- Forum: Business News Links
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Nigeria Lawmakers Demand Answers as CBN Governor is Summoned Over Alarming Naira Decline
In a bid to address growing concerns over the state of the economy and the alarming free fall of the naira in the forex market, the Senate's Committee on Banking, Insurance, and other Financial Institutions has taken a decisive step by summoning the Governor of the Central Bank of Nigeria...- Nigeria News
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- cbn naira crisis senate yemi cardoso
- Category: Politics
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Nigeria Businesses on Edge as Naira Hits Record Low of N1,482.57 per $1, Fueling Economic Uncertainty
The Nigerian Naira hit a historic low against the US dollar on Tuesday, causing concern in financial circles. Official figures reveal that the Naira closed at N1,482.57 per $1, showing a significant 10% drop from the previous day. The situation worsened in the unofficial market, where the...- Nigeria News
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- cbn currency crisis depreciation forex markets naira exchange rate us dollar
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Nigeria Airlines' Relief as CBN Clears $64.44M Forex Backlog, Yet Long Road Ahead
The Central Bank of Nigeria (CBN) has fulfilled its promise by disbursing $64.44 million, marking the latest step in addressing the extensive backlog of foreign exchange owed to airlines. This disbursement brings the total verified amount paid to airlines to $136.73 million, constituting a...- Nigeria News
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- cbn financial news forex backlog nigerian airlines yemi cardoso
- Category: Business
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Nigeria Manufacturers Sound Alarm on Impending Price Escalations Amid Naira Depreciation
Manufacturers in Nigeria are bracing for a potential surge in commodity prices as the nation's currency, the naira, continues its downward spiral against the United States dollar. Since the removal of the rate cap by the Central Bank of Nigeria in June 2023, the naira has witnessed a significant...- Nigeria News
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- cbn exchange rates forex market manufacturers association of nigeria naira depreciation nigeria economy
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Nigeria CBN Reveals Complete List of Departments Shifting to Lagos
The Central Bank of Nigeria (CBN) has initiated a comprehensive plan aimed at "decongesting" its head office, as outlined in a recent circular dated January 12, 2023, addressed to all staff. The directive, issued by the director of the human resources department, underscores the imperative of...- Nigeria News
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- cbn cbn and faan cbn relocation
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Nigeria Central Bank's $500 Million Boost Fails to Halt Naira's Dive, Reaches Record Low of N1,348.63/$1
Naira plummeted to a record low of N1,348.63 against the US Dollar on Monday, signaling a 33.87% decline from the previous Friday's closing rate of N891.90. This unprecedented depreciation, witnessed at the official NAFEM market, reflects the severity of the current economic challenges facing...- Nigeria News
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- cbn exchange rate today forex market naira against dollar naira depreciation
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Nigeria FG Refutes Political Allegations, Stresses FAAN and CBN Relocation for Efficiency
In a bid to address speculation and dispel concerns of political motives, the Federal Government has clarified that the planned relocation of the headquarters of the Federal Airports Authority of Nigeria (FAAN) and certain departments of the Central Bank of Nigeria (CBN) to Lagos is purely an...- Nigeria News
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- cbn faan faan and cbn relocation
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Nigeria Calls Intensify for Keyamo and CBN Governor's Removal Over Controversial Agency Moves, Northern Youth Lead Charge
In a recent development, the Joint Action Committee of Northern Youth Associations has demanded the removal of the Minister of Aviation, Festus Keyamo, and the Governor of the Central Bank of Nigeria (CBN), Yemi Cadoso. The call for their dismissal is linked to the controversial planned...- Nigeria News
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- agency relocation cbn cbn and faan relocation faan festus keyamo northern youth committee yemi cardoso
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Nigeria Nigeria Braced For Business Collapse As Naira Plummets to Record Low of N1,410/$1
The Nigerian Naira has hit a record low of N1,410 against the US Dollar on the black market, reflecting a 3.29% drop from the previous day's closing rate. The sudden depreciation is attributed to increased demand for dollars, notably from businesses restocking, individuals pursuing overseas...- Nigeria News
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- cbn economy policy financial news naira to dollar exchange nigerian naira
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Nigeria Former CBN Governor Sanusi Supports CBN's Relocation to Lagos Despite Political Backlash
Former-Central Bank Governor Sanusi Lamido Sanusi has endorsed relocating some CBN departments from Abuja to Lagos. Sanusi called the move sensible for streamlining operations and reducing costs. Despite criticism from some northern politicians, Sanusi dismissed opposition as political games...- Nigeria News
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- bola tinubu cbn cbn relocation faan former-central bank governor sanusi lamido sanusi
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Nigeria President Misguided by 'Lagos Boys' on Relocation of CBN and FAAN -Ndume
Senator Ali Ndume, representing Borno South Senatorial District, has voiced strong opposition to the proposed relocation of certain Central Bank of Nigeria (CBN) departments and the Federal Airports Authority of Nigeria (FAAN) from Abuja to Lagos. Ndume, the Chief Whip of the Senate, alleges...- Nigeria News
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- cbn faan faan and cbn relocatons senator ali ndume
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Nigeria Senator Ndume Criticizes CBN's Proposed Relocation To Lagos, Anticipates Reversal
Senator Ali Ndume, representing Borno South, has raised objections to the planned relocation of Central Bank of Nigeria (CBN) departments from Abuja to Lagos. Specifically targeting departments such as Banking Supervision, Other Financial Institutions Supervision, Consumer Protection, Payment...- Nigeria News
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- acf cbn channels tv senator ali ndume
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Nigeria FAAN, CBN Relocation: Nigerians Divided As Arewa Forum Accuses President Tinubu of Stripping the North of Relevance
The Arewa Consultative Forum (ACF) has raised strong objections to President Bola Tinubu's approval for the relocation of the Federal Airport Authority of Nigeria (FAAN) headquarters and certain Central Bank of Nigeria (CBN) departments from Abuja to Lagos. Professor Muhammad Baba, the ACF's...- Nigeria News
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- cbn faan faan relocation festus keyamo president tinubu
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Nigeria CBN's Governor Cardoso Set to Lead First MPC Meeting in February
The Central Bank of Nigeria (CBN) has announced that its Monetary Policy Committee (MPC) will convene for its first meeting under the leadership of Governor Olayemi Cardoso on February 26 and 27, 2024. The revelation follows a strategic two-day session to prepare members for the upcoming...- Nigeria News
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- cbn cbn governor mpc metting yemi cardoso
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Nigeria Former CBN Governor Emefiele Faces Upgraded 20-Count Charge in Legal Battle
The Federal Government is set to arraign former Central Bank of Nigeria (CBN) Governor Godwin Emefiele on an amended 20-Count Charge at the High Court of the Federal Capital Territory (FCT), Abuja, this Friday. Channels Television's Judiciary Correspondent, Shola Soyele, reveals details of the...- Nigeria News
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- cbn former cbn governor godwin emefiele high court
- Category: Politics
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Nigeria CBN Appoints New Executives to Lead Union, Keystone, and Polaris Banks After Board Dissolution
In a sweeping move that has sent ripples through Nigeria's financial landscape, the Central Bank of Nigeria (CBN) has announced the appointment of new executives to spearhead the operations of Union Bank, Keystone Bank, and Polaris Bank. This strategic decision comes on the heels of the...- Nigeria News
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- cbn jim obazee keystone bank polaris bank union bank
- Category: Business
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