central bank of nigeria

The Digest: The Central Bank of Nigeria has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing multiple breaches of banking laws and severe capital inadequacy. Key Points: The CBN revoked the operating licences of Aso Savings and Loans...

The Digest: The Central Bank of Nigeria has issued final operating licences to 82 Bureau De Change operators in line with its updated regulatory framework, while warning the public against patronising unlicensed forex dealers. This follows the revocation of over 4,000 BDC licences earlier in...

The Digest: The Central Bank of Nigeria has abolished cash deposit ceilings and raised weekly withdrawal limits, recalibrating the rules of financial engagement in Nigeria's cash-driven economy. This move, rooted in the storm of managing physical currency, seeks to balance cost, security, and...

The Central Bank of Nigeria demanded that Bureau De Change operators raise billions in capital or lose their licenses, and most thought it was negotiable. They were wrong. As the June 3 deadline arrived with only 10% of over 5,000 BDC operators meeting requirements, the naira responded with...