CBN’s Interest Rate Hike Raises Concerns of Growing Non-Performing Loans – Financial Analysts Warn. Financial analysts are expressing apprehensions over the recent decision by the Central Bank of Nigeria (CBN) to raise the interest rate by 22.75%, citing potential…
Central Bank of Nigeria (CBN) Revokes Licenses of 4,173 BDCs: Regulatory Update. In a significant regulatory move, the Central Bank of Nigeria (CBN) has announced the revocation of operational licenses for over 4,000 Bureau De Change (BDC) operators under…
CBN Governor, Olayemi Cardoso, Dismisses Blame for Nigeria’s Economic Struggles. In a recent statement, Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), refuted claims that he and his team are accountable for the nation’s ongoing economic…
CBN Auctions N1.58 Trillion in Treasury Bills, Sets Interest Rate at 19% for 364-Day Bill. In its latest Treasury Bills auction, the Central Bank of Nigeria (CBN) successfully sold N1.58 trillion, underscoring its commitment to managing liquidity in the…
CBN Proposes Increase in BDC Minimum Share Capital to N2 Billion for Tier 1 License. The Central Bank of Nigeria (CBN) is considering a substantial increase in the minimum share capital requirements for Bureau De Change (BDC) operators, aiming…
CBN Directs Customs: Use Form M Exchange Rate for Import Duty Calculation. In a recent directive, the Central Bank of Nigeria (CBN) has instructed the Nigerian Customs Service (NCS) to adopt the foreign exchange (FX) closing rate on the…
Nigerian Treasury Bills Rate Surges to 19% Annually in CBN’s Bid for Exchange Rate Stability. In a significant move indicative of a shift towards a more stringent monetary policy, the stop rates for Nigerian Treasury Bills (TBs) have soared…
The Federal Government (FG) and the Central Bank of Nigeria (CBN) have categorically denied any plans to convert $30 billion domiciliary deposits into naira, refuting recent reports that suggested such measures were being considered to address the foreign exchange (forex)…
The Central Bank of Nigeria (CBN) has issued a new circular that removes the previous cap on exchange rates quoted by International Money Transfer Operators (IMTOs). This follows a circular issued by the central bank addressing suspected cases of excessive…
The National Identity Management Commission (NIMC) has recently announced a temporary suspension of Front-End Partners (FEPs) from participating in National Identification Number (NIN) enrolments. This significant development was disclosed by Abisoye Coker-Odusote, the Director-General of NIMC, during a comprehensive four-day…
