central bank of nigeria
-
Nigeria Nigeria's Central Bank Initiates Dollar Sales to BDCs to Boost Forex Liquidity
Amidst Nigeria's evolving economic landscape, the Central Bank of Nigeria (CBN) has taken significant steps to bolster liquidity in the foreign exchange market, signaling a potential shift in the nation's currency dynamics. In a recent circular addressed to Bureau De Change operators (BDCs)...- Nigeria News
- Article
- 2 min read
- bureau de change (bdc) central bank of nigeria forex market monetary policy rate (mpr) nigerian economy yemi cardoso
- Category: Business
-
Nigeria Moghalu Criticizes Artificial Exchange Rates, Calls for Realistic Economic Policies
Former deputy governor of the Central Bank of Nigeria, Kingsley Moghalu, criticized the notion of aiming for a Naira to Dollar exchange rate of N400, stating that such expectations are unrealistic. Moghalu emphasized the importance of the exchange rate reflecting its true market value, rather...- Nigeria News
- Article
- 1 min read
- central bank of nigeria exchange rate kingsley moghalu naira dollar nigeria
- Category: Business
-
Nigeria New Regulation Requires Bank Customers to Present 3-Year Tax Clearance for Dollar Purchases Starting April 1
Nigerian banks have implemented a new requirement for customers seeking forex transactions through Form A, demanding the submission of the last three years' tax clearance certificates (TCC). Standard Chartered Bank notified its customers via email, confirming this mandate effective from April 1...- Nigeria News
- Article
- 1 min read
- central bank of nigeria foreign exchange regulations forex transactions form a nigerian banks stanbic ibtc tax clearance certificate
- Category: Business
-
Nigeria Naira Strengthens Significantly, Hits N1,382/$ Amid Forex Stability Efforts
The Central Bank of Nigeria's recent interventions have spurred a remarkable recovery for the Naira, with the currency appreciating to N1,382.35/$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM). This surge marks a significant gain from its previous rate of N1,536.83/$, showcasing...- Nigeria News
- Article
- 1 min read
- central bank of nigeria foreign exchange settlement forex backlog forex market naira appreciation yemi cardoso
- Category: Business
-
Nigeria Tensions Rise as Foreign Airlines Challenge CBN's Assertion on Cleared Forex Obligations
Amidst assertions by the Central Bank of Nigeria (CBN) of successfully settling all outstanding foreign exchange (FX) obligations, foreign airlines have challenged the claim, asserting that the situation remains unchanged. Kingsley Nwokeoma, President of the Association of Foreign Airlines and...- Nigeria News
- Article
- 1 min read
- aviation sector cbn central bank of nigeria currency market foreign airlines forex backlog yemi cardoso
- Category: Business
-
Nigeria Naira Strengthens as CBN Resolves $7 Billion Forex Backlog, Marks 4.6% Appreciation
The naira has witnessed a notable appreciation at both the official and parallel markets following the Central Bank of Nigeria's (CBN) successful clearance of all foreign exchange (FX) backlogs. Data from the FMDQ Securities Exchange indicates that the Naira closed trading at ₦1,410/dollar at...- Nigeria News
- Article
- 1 min read
- central bank of nigeria currency market economic development exchange rates forex backlog naira appreciation
- Category: Business
-
Nigeria Forex Policy Shake-Up: Nigerians Skeptical as CBN Lifts Restrictions on Dairy Imports
The Central Bank of Nigeria (CBN) has announced a significant policy shift regarding foreign exchange (forex) restrictions on milk and dairy imports to address economic concerns and alleviate consumer burdens. This decision, revealed through a CBN circular dated March 12 with reference number...- Nigeria News
- Article
- 2 min read
- cbn governor central bank of nigeria dairy products forex restrictions milk imports yemi cardoso
- Category: Business
-
Nigeria Central Bank of Nigeria CBN Intervention Funds Loan Repayment
An exclusive report reveals insights into the Central Bank of Nigeria's (CBN) N10.3 trillion Intervention Funds Programme, shedding light on the complexities and challenges faced. With a repayment rate of 75.8%, the program has garnered attention, especially as N193 billion in loans has been...- Nigeria News
- Article
- 1 min read
- cbn intervention funds central bank of nigeria loan repayment
- Category: Business
-
Nigeria SEC Amendment: Crypto Registration Fees in Nigeria Set to Skyrocket
Nigeria's Securities and Exchange Commission (SEC) has proposed significant amendments to the regulations governing platforms offering cryptocurrency services. The suggested changes include a substantial increase in the registration fee for crypto exchanges from 30 million naira ($18,620) to...- Nigeria News
- Article
- 1 min read
- binance central bank of nigeria crypto ban crypto exchanges cryptocurrency regulation nigeria registration fees sec
- Category: Business
-
Nigeria Nigerians Mock Ajuri Ngelale's Attempt To Protect Buhari By Disclosing Lack of Oversight in CBN Governance
In a recent interview with media personality Chude Jideonwo, Ajuri Ngelale, Special Adviser to President Bola Tinubu on Media and Publicity, disclosed that numerous approvals for fund releases within the Central Bank of Nigeria (CBN) during Godwin Emefiele's tenure did not bear the signature of...- Nigeria News
- Article
- 1 min read
- ajuri ngelale central bank of nigeria chudes interview godwin emefiele muhammadu buhari tinubu administration
- Category: Politics
-
Nigeria CBN Crackdown: Licenses Revoked for Over 4,000 BDC Operators
The Central Bank of Nigeria (CBN) has taken decisive action by revoking the licenses of 4,173 bureau de change (BDC) operators, citing their failure to comply with regulatory provisions. Sidi Ali, CBN's acting director of corporate communications, highlighted that the operators neglected crucial...- Nigeria News
- Article
- 2 min read
- bdc license cbn regulatory actions central bank of nigeria yemi cardoso
- Category: Business
-
Nigeria Naira Crisis: Nigeria Imposes $10 Billion Fine on Binance for Alleged Currency Manipulation
The Nigerian government has imposed a colossal $10 billion fine on Binance, a prominent cryptocurrency trading platform, citing its alleged role in exacerbating the country's ongoing foreign exchange crisis. Bayo Onanuga, the Special Adviser on Information and Strategy to President Bola Tinubu...- Nigeria News
- Article
- 2 min read
- bayo onanuga binance bola tinubu central bank of nigeria crypto market cryptocurrency financial news financial regulations forex crisis nigeria
- Category: Politics
-
Nigeria Naira Crisis: CBN Board Nominee Declines Offer, Citing Ongoing Engagements
Mr. Urum Kalu Eke, one of the nominees for the Central Bank of Nigeria (CBN) Board, has declined the prestigious appointment. President Bola Tinubu had submitted Kalu Eke's name and four others for Senate confirmation. However, Eke chose to skip the Senate Committee's screening process...- Nigeria News
- Article
- 1 min read
- cbn board nomination central bank of nigeria fbn holdings kalu eke naira crisis nigerian banking
- Category: Business
-
Nigeria Naira Crisis: Nigerian Government Continues 'Stick and Carrot' Approach as CBN Releases $20,000 to Each BDC to Stabilize Currency
The Central Bank of Nigeria (CBN) is taking proactive measures to rectify distortions in the country's foreign exchange market, particularly in the retail segment. In a recent circular by Dr. Hassan Mahmud, the Director of the Trade & Exchange Department, the CBN announced its decision to...- Nigeria News
- Article
- 2 min read
- bureau de change (bdc) cbn central bank of nigeria naira stabilization nigeria foreign exchange yemi cardoso
- Category: Business
-
Nigeria CBN Implements Drastic Measures: Interest Rates Skyrocket to 22.75% in Bid to Tackle Inflation Surge
In response to the persistent challenge of soaring inflation, the Central Bank of Nigeria (CBN) has announced a significant hike in the monetary policy rate, raising it by 400 basis points from 18.5% to 22.75%. CBN Governor Olayemi Cardoso revealed this decision during the 293rd Meeting of the...- Nigeria News
- Article
- 1 min read
- cash reserve ratio cbn governor central bank of nigeria inflation crisis monetary policy rate mpc meeting yemi cardoso
- Category: Business
-
Nigeria Nigerians Credit Peter Obi for Customs Import Duty Policy Shift
In a significant move effective from February 26, 2024, the Central Bank of Nigeria (CBN) has instructed the Nigerian Customs Service (NCS) to base import duty calculations on the foreign exchange (FX) closing rate on the day importers submit 'Form M' for clearing goods. This decision aims to...- Nigeria News
- Article
- 1 min read
- central bank of nigeria customs duty exchange rate form m import duties nigerian customs service
- Category: Politics
-
Nigeria Naira Crisis: CBN target BDCs With N2 billion Licence Fee
Amidst a deepening forex crisis pushing the naira to a historic low of N2,000 against the dollar, the Central Bank of Nigeria (CBN) has implemented robust measures against Bureau De Change (BDC) operators. In response to the economic downturn, the National Security Adviser, Mallam Nuhu Ribadu...- Nigeria News
- Article
- 1 min read
- bdc operators bureau de change cbn cbn governor central bank of nigeria efcc forex crisis forex market naira crisis yemi cardoso
- Category: Business
-
Nigeria Presidency Rebukes Atiku, Affirms Commitment to Food Security and Forex Stability
In a swift response to former Vice President Atiku Abubakar's criticisms, the Nigerian Presidency stated on Sunday, accusing Atiku of distorting facts surrounding the foreign exchange policy of the Tinubu administration. The Special Adviser to the President on Information and Strategy, Bayo...- Nigeria News
- Article
- 2 min read
- atiku abubakar central bank of nigeria food security foreign exchange policy nigeria presidency tinubu administration
- Category: Politics
-
Nigeria CBN Cracks Down on Forex Malpractices: Ends Cash Payments for Travel Allowances
The Central Bank of Nigeria (CBN) has introduced a pivotal policy shift, instructing authorized dealer banks to discontinue the payout of Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) in cash. This directive, signed by Dr Hassan Mahmud, the Director of the Trade and...- Nigeria News
- Article
- 1 min read
- cbn central bank of nigeria forex market travel allowance
- Category: Business
-
Nigeria Rate for Cargo Clearance in Nigeria Now N1515 to $1 - CBN
The Central Bank of Nigeria (CBN) has announced an adjustment in the exchange rate for the clearance of goods, increasing it from N1444.56/$ to N1515.09 against the USD. This marks a noteworthy rise of N70.53 compared to the previous rate, reflecting the CBN's continued efforts to align official...- Nigeria News
- Article
- 2 min read
- cbn central bank of nigeria economic reforms exchange rate goods clearance importers naira depreciation rate for good clearance
- Category: Business
About Nigerian Bulletin
Nigerian Bulletin is your gateway to top news, specialized lifestyle topics, and a unique, curated marketplace. It connects Nigerians worldwide with crucial updates and opportunities and is ideal for engaging press releases, effective sponsored posts, banner ads, and product showcases.