Perhaps, the main reason the Nigeria government is redesigning some denominations of the country’s naira notes is to mop up the money outside the control of the CBN. In a…
Continue readingThe Central Bank of Nigeria (CBN) have announced the restriction of foreign banks operating in Nigeria from any major banking activities in the country. In a circular issued by the…
Continue readingDespite widespread concerns over the continuous charge of account maintenance fees from the bank accounts of customers, naijabusiness.com.ng can authoritatively report that ten (10) Nigerian banks raked in a total…
Continue readingThe Central Bank of Nigeria (CBN) has directed Commercial Banks and Payment Service Providers (PSPs) in the country to henceforth honour all end-to-end bulk payments or transfers request issued by…
Continue readingSocial media has been buzzing following the recent move by the Central Bank of Nigeria to freeze the accounts of four fintech companies- RiseVest Technologies Limited, Bamboo Systems Technology Limited,…
Continue readingThe Central Bank of Nigeria (CBN) has revealed that its digital currency might be launched by the end of 2021. Recall that naijabusiness.com.ng had earlier reported that the Central Bank…
Continue readingNigerians have been kept in the dark over what the official foreign exchange rate is today, as the apex financial institution in the country, (the Central Bank of Nigeria) removed…
Continue readingThe Central Bank of Nigeria has unveiled its first maize pyramids and flagged off the 2021 maize wet season farming under the Maize Association of Nigeria (MAAN)-CBN Anchor Borrowers’ Programme…
Continue readingThe Central Bank of Nigeria (CBN) has injected the sum of $1.47 billion into the Nigerian Foreign Exchange market in an effort to stabilize the naira and ensure liquidity in…
Continue readingThe Central Bank of Nigeria has warned Deposit Money Banks (DMBS) and Forex Dealers to desist from the act of rejecting old and lower denominations of the US Dollar bills….
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