CBN – Page 9 of 17 – Prime Business Africa

Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

How Naira Drops From Best Performing Currency To worst In The World

In April, the naira took a steep dive, ranking as the worst-performing currency globally, according to a Bloomberg report. This unexpected shift has sparked concerns, particularly in Nigeria’s financial circles, as the once-promising trajectory of the local currency now faces a downward

May 11, 2024

The Central Bank of Nigeria (CBN) has revealed that the Federal Government spent $1.12 billion on foreign debt service in the first quarter (Q1) of 2024.

Finance & Economy·News

Nigerian Govt Spends $1.12bn On External Debt Service In Q1

The Central Bank of Nigeria (CBN) has revealed that the Federal Government spent $1.12 billion on foreign debt service in the first quarter (Q1) of 2024. According to data from the CBN, Nigeria recorded a total of $1.61 billion in outflows in

May 10, 2024

CAC Registration: POS Agents Laments As Police Plan Arrest Of Illegal Operators

Business·News

CAC Registration: Mixed Reactions Among PoS Agents As Police Plan Arrest Of Illegal Operators

Point-of-Sale (PoS) agents across Nigeria are voicing their concerns as the Federal Government announces plans to enforce mandatory registration, with the promise of cracking down on illegal operators. The move, aimed at enhancing security and reducing fraudulent practices, has sparked mixed reactions

May 9, 2024

Forex Crisis Costs Nigeria Over $500m Annually, Importers Warn

Business·News

Forex Crisis: 3 States Govts Seek Suspension of $501m Foreign Debts

State governments in Nigeria are facing the brunt of the foreign exchange (Forex) crisis and are seeking relief from their debt repayment burdens. Ekiti, Cross River, and Ogun states have jointly proposed a suspension of their foreign debt repayments totaling $501 million.

May 9, 2024

Business·News

CBN’s Cybersecurity Levy Sparks Reactions From Nigerians

Nigerians have expressed dissatisfaction with the new cybersecurity levy imposed by the Central Bank of Nigeria on bank customers for electronic transactions.

May 8, 2024

4 Electronic Transaction Levies Nigerians Pay As CBN Introduce Cybersecurity Levy

Business·News

4 Electronic Transaction Levies Nigerians Pay As CBN Introduces Cybersecurity Levy

In the wake of the directive by the Central Bank of Nigeria mandating banks to impose a 0.5% cybersecurity levy on transactions, attention has been drawn to the plethora of other levies Nigerians encounter during electronic transactions. While the cybersecurity levy has

May 8, 2024

Energy, Exchange Rate, Transportation Top Three Drivers Of Inflation In Nigeria - CBN Survey

Business·News

CBN Suspends Cash Deposit Charges Until September

The Central Bank of Nigeria (CBN) has halted charges on cash deposits until September 30, 2024. In a circular dated May 6, 2024, signed by Adetona Adedeji, the Director of Banking Supervision, the CBN directed banks to cease the collection of processing

May 8, 2024

Business·News

CBN Orders Banks To Charge 0.5% Cybersecurity Levy On Transactions

In a move to fortify Nigeria’s financial system against cyber threats, the Central Bank of Nigeria (CBN) has mandated banks to enforce a cybersecurity levy on transactions, starting within two weeks. “The levy shall be applied at the point of electronic transfer

May 7, 2024

New Pos Charges: PoS Operators Risk N10m Fine, Imprisonment

Business·News

Nigerian Govt Gives PoS Operators 2-Month Deadline To Register With CAC

As the Nigerian government continues to adopt measures to combat money laundering, terrorism, among others, all Point of Sale operators (PoS) across the country have been mandated to register their agents, merchants and individuals with the Corporate Affairs Commission (CAC) latest by

May 7, 2024

Business·Currency·News

Why Nigerian Govt Plans To Ban Naira From Crypto Trading Platforms

the Securities and Exchange Commission (SEC) has finalized plans to delist the naira from all peer-to-peer cryptocurrency trading platforms.

May 7, 2024

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CBN - Page 9

How Naira Drops From Best Performing Currency To worst In The World

Nigerian Govt Spends $1.12bn On External Debt Service In Q1

CAC Registration: Mixed Reactions Among PoS Agents As Police Plan Arrest Of Illegal Operators

Forex Crisis: 3 States Govts Seek Suspension of $501m Foreign Debts

CBN’s Cybersecurity Levy Sparks Reactions From Nigerians

4 Electronic Transaction Levies Nigerians Pay As CBN Introduces Cybersecurity Levy

CBN Suspends Cash Deposit Charges Until September

CBN Orders Banks To Charge 0.5% Cybersecurity Levy On Transactions

Nigerian Govt Gives PoS Operators 2-Month Deadline To Register With CAC

Why Nigerian Govt Plans To Ban Naira From Crypto Trading Platforms

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