The Central Bank of Nigeria has advised microfinance institutions against engaging in certain prohibited activities, including wholesale banking and foreign...

Naira closes at a record low of N409/$1 at NAFEX

Currencies

Naira falls at official forex market as finance minister hints at unified rate

by Samuel Oyekanmi

August 19, 2021

Wednesday 18th August 2021:  The exchange rate between the naira and the US dollar fell to N411.75/$1 at the Investors and...

Currencies

Trove Technologies Limited issues statement on CBN account suspension

by Suzanne Oyebola

August 19, 2021

Following a court injunction obtained by the Central Bank of Nigeria (CBN), permitting the freezing of the bank accounts of...

The spray of naira notes is not something we can sanction – CBN

Currencies

CBN says naira abusers will be jailed, issues fresh warning

by Chike Olisah

August 18, 2021

The Central bank of Nigeria has once again warned against the abuse of the naira as it says that abusers...

Nigeria’s manufacturing sector contracts for 5th consecutive month – CBN , To test FX market, CBN pumps $50 million, CBN issues guidelines to Finance Institutions on establishment of Subsidiaries and SPVs, CBN injects $2.63 billion to defend naira in one month, CBN’s COVID-19 N50 billion targeted credit facility, CBN’s heterodox policies buoys credit growth, These industries drove business activities in September, Credit to Nigerian economy falls to N38.67 trillion as private stagnates at N30 trillion, Availability of secured credit to businesses and households increases as unsecured credit to households dips in Q3 2020 - CBN, CBN releases regulatory guidelines on the eNaira

Currencies

See the 2015 CBN press release that helped freeze bank accounts of 6 FinTechs

by Ubah Jeremiah Ifeanyi

August 18, 2021

The Central Bank of Nigeria was granted, on Tuesday, a motion that demanded the temporary suspension of bank accounts belonging...

Naira falls across forex markets as businesses resume after public holidays

Currencies

Naira appreciates at official market as dollar supply decreases marginally

by Samuel Oyekanmi

August 18, 2021

Tuesday 17th August 2021: The exchange rate between the naira and the US dollar closed at N411.5/$1 at the Investors and...

Bamboo says USD Wire Transfer option is no longer available for deposits

Business News

Bamboo reaches out to customers on CBN account freeze

by Janet John

August 17, 2021

Fintech investment platform, Bamboo has reached out to its customers reassuring them of the safety of their funds in the...

diaspora remittances, Total credit to the economy rose to N19.54trillion – CBN Governor, CRR debits, P-AADS, #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities, Covid-19: Court closures impacted revenue generation for courts - Emefiele, P&ID dispute: UK Court orders $200 million guarantee to FG, Leaked letter by Poultry Farmers Association triggered CBN emergency approval to import maize, nImplications of CBN's latest devaluation and FX unification, current account deficit, IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele , Increasing food prices might erase chances of CBN cutting interest rate , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction, Nigeria’s foreign reserves hit $36.57 billion; Emefiele keeps his word on defending the naira, CBN to support maize farmers, projects 12.5 million metric tons in 18 months, BREAKING: CBN Upscales Greenwich Trust Limited, grants it's operational license for merchant banking, AGSMEIS: CBN expand beneficiaries to 14,638., CBN expands access to mortgage financing

Business News

CBN freezes bank accounts of six fintech platforms for 180 days

by Janet John

August 17, 2021

A federal high court in Abuja has granted the request of the Central Bank of Nigeria (CBN) to freeze accounts...

Foreign reserves, Nigeria’s External reserves

Business News

Nigeria’s foreign reserve could surpass $40 billion by September – EFG Hermes

by Samuel Oyekanmi

August 17, 2021

Nigeria’s foreign reserve has been projected to surpass the $40 billion threshold by September 2021, following the $3.35 billion direct...

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Exchange rate slumps to N1,586/$1 in official market—first decline since MPC meeting

Naira gains for three straight days in official market but UK Pounds falls to N2,155

Naira appreciates to N1,625/$1 in parallel market, N1,588.50/$1 at official

Currency volatility now below 0.5% as FX market stabilises – Cardoso

Currencies

Nigeria's daily parallel market exchange rate tracker

Exchange rate falls at forex market despite significant surge in dollar supply

CBN cautions microfinance banks against forex transactions and wholesale banking

Naira falls at official forex market as finance minister hints at unified rate

Trove Technologies Limited issues statement on CBN account suspension

CBN says naira abusers will be jailed, issues fresh warning

See the 2015 CBN press release that helped freeze bank accounts of 6 FinTechs

Naira appreciates at official market as dollar supply decreases marginally

Bamboo reaches out to customers on CBN account freeze

CBN freezes bank accounts of six fintech platforms for 180 days

Nigeria’s foreign reserve could surpass $40 billion by September – EFG Hermes

Recent News

Recent News

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