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Central Bank of Nigeria News - Page 2

CBN Threatens Importers With Sanction After Launching FX Price Verification System

The Central Bank of Nigeria (CBN) has threatened to sanction importers for infraction as regards Form M application, as it launches a foreign exchange (Forex/FX) price verification system. In a statement released by the CBN’s Trade and Exchange Department to all banks

August 18, 2023

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Currency

Black Market Dollar Rate On Free Fall Since CBN’s Warning To Speculators

On Thursday, foreign exchange traders in the black market recorded N33.5 kobo drop in the price of the United States Dollar (USD). The dollar was sold in the Bureau De Change window of the black market at an average rate of N877.4/$1,

August 18, 2023

Business

CBN Issues Guideline On How To Avoid Getting Duped By Illegal Financial Operators

The Central Bank of Nigeria’s (CBN) Financial Services Regulation and Coordinating Committee (FSRCC) has issued a guideline to help Nigerians avoid illegal financial operators in the country. According to the regulator, the illegal financial operators are luring unsuspecting Nigerians with extraordinary returns

August 18, 2023

Business

FG Files 20 New Charges Against Godwin Emefiele

The Federal Government filed 20 new charges against the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday. FG made the disclosure after withdrawing its illegal possession of firearms charge against Emefiele, which was challenged by the defendant’s

August 15, 2023

Business

Tinubu’s CBN Special Investigator: The Rise, Fall And Rise Of Jim Obazee

On Sunday, 30 July 2023, President Bola Tinubu appointed Jim Obazee as the special investigator to probe the Central Bank of Nigeria (CBN). Prior to his appointment, Obazee has been involved in high-profile financial cases and infamous policies that rocked the financial

July 31, 2023

Business

CBN Says Subsidy Removal, Naira Devaluation Will Fuel Inflation Rate

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) said the removal of subsidy on Premium Motor Spirit (PMS) and the naira devaluation will fuel the inflation rate. Members of the MPC stated that the continued hike in food

July 26, 2023

Breaking: CBN Raises Interest Rate To 18.75%

Business

Updated: CBN Raises Interest Rate To 18.75%, To Affect Prices Of Goods

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) increased the monetary policy rate (MPR), the benchmark interest rate, to 18.75 per cent on Tuesday. After the committee’s meeting on Tuesday, which is the first without Godwin Emefiele in

July 25, 2023

Money Supply In Nigeria Rises By N600bn, Currency In Circulation Drops To N2.59trn

Business

House Of Reps To Probe CBN Over Handling Of Excess Crude Account Investments

The Central Bank of Nigeria (CBN) will be probed by the House of Representatives for its handling of the excess crude account and other investment vehicles. In their plenary session on Thursday, the lower chamber set up an ad-hoc committee to investigate

July 21, 2023

Business

CBN Asked To Get Rid Of Loan Apps Due To Danger To Nigerian Economy

The Central Bank of Nigeria (CBN) has been advised to end the operations of loan sharks in the country as they are dangerous to the economy. A former president of the Chattered Institute of Bankers of Nigeria (CIBN), Okechukwu Unegbu, made the

July 17, 2023

Business·Diaspora

CBN Directs IMTOs To Use I&E Window Rate To Convert Diaspora Remittances

International Money Transfer Operators (IMTO) have been directed by the Central Bank of Nigeria (CBN) to add naira and eNaira payout to diaspora remittances. In a circular released on Wednesday, titled; Payout Option In Naira For Receipt Of Proceeds Of Diaspora Remittances,’

July 13, 2023

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Central Bank of Nigeria News - Page 2

CBN Threatens Importers With Sanction After Launching FX Price Verification System

Black Market Dollar Rate On Free Fall Since CBN’s Warning To Speculators

CBN Issues Guideline On How To Avoid Getting Duped By Illegal Financial Operators

FG Files 20 New Charges Against Godwin Emefiele

Tinubu’s CBN Special Investigator: The Rise, Fall And Rise Of Jim Obazee

CBN Says Subsidy Removal, Naira Devaluation Will Fuel Inflation Rate

Updated: CBN Raises Interest Rate To 18.75%, To Affect Prices Of Goods

House Of Reps To Probe CBN Over Handling Of Excess Crude Account Investments

CBN Asked To Get Rid Of Loan Apps Due To Danger To Nigerian Economy

CBN Directs IMTOs To Use I&E Window Rate To Convert Diaspora Remittances

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