All you need to know about CBN’s new cheque standard
All is set for the implementation of CBN’s new cheque standard expected to be fully operational by 1st of April, 2021. The Central Bank of Nigeria had in a recent…
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CONTEST: Central Bank of Nigeria (CBN) Global Money Week Social Media Challenge
To commemorate the 2021 Global Money Week (GMW), the Central Bank of Nigeria (CBN) is organizing a social media contest called the “Global Money Challenge” where youths can showcase their…
Continue readingCBN to pay N5 for $1 in “CBN Naira 4 Dollar scheme” for Diaspora Remittances
The Central bank of Nigeria (CBN) has introduced the “CBN Naira 4 Dollar Scheme”, aimed at encouraging an increase in inflows of diaspora remittances into Nigeria. In a circular released…
Continue readingCBN Orders Bank to Restrict Cryptocurrency Exchanges Accounts
The Central Bank of Nigeria (CBN), has dealt a deadly blow to businesses transacting in cryptocurrency in Nigeria. The apex bank has ordered all Deposit Money Banks (DMBs), Non-Bank Financial…
Continue readingCBN Clarifies Stand on Domiciliary Accounts Operations in Nigeria
The Central Bank of Nigeria (CBN) has made some clarification on the operations of domiciliary accounts in Nigeria’s money deposit banks. This was made in order to douse the tension…
Continue readingWe spend N75bn to print banknotes in 2019 – CBN
The Central Bank of Nigeria, CBN, has disclosed that it spent N75 billion to print banknotes in 2019. The apex bank disclosed these in its Currency Operation Department Annual Report…
Continue readingCBN Goes Hard On Exporters Not Repatriating Foreign Exchange
The Central Bank of Nigeria, CBN, has called on Banks to forward the names, addresses and Bank Verification Numbers (BVN) of exporters that have defaulted in repatriating their foreign exchange…
Continue readingCBN Blocks Forex Over-Invoicing – Insist on Suppliers Details For Forms M
The Central Bank of Nigeria (CBN) on Monday introduced an FX policy that will tackle the age-long practice of Forex over-invoicing, which unscrupulous businesses have used to cart away the…
Continue readingNigeria Foreign Reserves Dips By $544.94m In Six Weeks
The latest figures from the Central Bank of Nigeria, CBN, have shown that Nigeria’s foreign reserves drop by $544.94m from $36.17bn on July 1, it now stands at $35.62bn as…
Continue readingCBN Devalues Naira Again, Official Exchange Rate Now N380/$1
The Central Bank of Nigeria (CBN) has devalued the Naira against other foreign currencies. This will be the second time in 2020, that the apex bank, will devalue the Naira,…
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