The Network Against Corruption and Trafficking Foundation (NACAT) has taken legal action against Mr. Folashodun Shonubi, the acting Governor of the Central Bank of Nigeria (CBN), and Mr. Edward Adamu, a Deputy Governor at the bank.
In a striking reversal, the naira demonstrated newfound strength against the dollar within the peer-to-peer (P2P) market, opening at N855/$ on Friday morning.
The acting Central Bank of Nigeria (CBN), Folashodun Shonubi, said the apex bank are not trying to unify the rate, as they are encouraging the market to be efficient
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the benchmark interest rate (MPR) by 25 basis points to 18.75% from its initial 18.5%, representing the highest interest rate in 22 years.
SERAP has urged the acting Governor of the CBN, Mr Folashodun Shonubi, to “immediately delete the patently unlawful provisions in the Central Bank of Nigeria (Customer Due Diligence) Regulations directing banks to obtain information on customers’ social media handles for the purpose of identification.”
