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Central Bank of Nigeria News - Page 5

IMF Says CBN’s eNaira Have Unknown Consequences

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the eNaira and other retail Central Bank Digital Currencies (CBDC) have unknown consequences. CBDC is a government-controlled digital currency that is split into two types; retail and wholesale

May 5, 2023

Business

Criticism Trails Senate’s Approval Of CBN’s N22.7 trillion Loans To FG

The Senate’s approval to restructure the N22.7 trillion ways and means advances from the Central Bank of Nigeria (CBN) into bonds has sparked criticism from economic analyst and the Trade Union Congress of Nigeria (TUC). On Wednesday, 3 May, the Senate gave

May 4, 2023

Sterling Bank, AATIF Raise $15m To Fund Renewable Energy-powered Agro-enterprises

Business

CBN Hits Sterling Bank With N218 million Fine For Unfair Contract Terms, Others

The Central Bank of Nigeria (CBN) fined Sterling Bank N218 million for shutting down two branches without approval, amongst other contraventions. Prime Business Africa learnt that Sterling Bank was sanctioned for the closure of two branches in 2020 and the acquisition of

May 3, 2023

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

Business·Currency

Dollar Rate Up 47% Since CBN Banned Forex Sales To Black Market Sellers

The foreign exchange (forex) rate between the Naira and the Dollar has increased by 47 per cent since the Central Bank of Nigeria (CBN) banned the sales of FX to the black market. This represents N245 increase in the price offered by

May 2, 2023

Emefiele Settles For Plea Bargain In N6.9bn Procurement Fraud Case

Business

CBN Receives New Redesigned Naira Notes From NSPMC, Tackles Panic Merchants

The spokesman of the Central Bank of Nigeria (CBN), Isa Abdulmumim, has denied reports that the financial regulator plans to phase out the redesigned Naira notes. Abdulmumim said the CBN will continue to release the new currencies and doesn’t intend to withdraw

May 1, 2023

Business

CBN’s Former Deputy Gov, Moghalu, Lists Problems Affecting Nigeria’s Growth

The former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, said the difficult business environment is affecting Nigeria. He said most things that work in the country are operated by the private sector. Moghalu, in a series of posts

April 24, 2023

Shareholders Remember Wigwe, Others At Access Holdings Annual General Meeting

Business

CBN Fines Access Bank N604 million For Breaching 3 Regulatory Orders

The Central Bank of Nigeria (CBN) fined Access Bank N604 million for wrong account opening with mismatched details, breaching foreign exchange (forex) guidelines and one other contravention. Prime Business Africa learnt CBN also sanctioned Access Bank for breach of accounts administration agreement,

April 24, 2023

Business

Nigerian Banks Earn N135.52 Trillion From CBN’s Naira Policy, E-Payments

The value of electronic payment transactions grew by 298 per cent year-on-year in the first quarter of 2023, thanks to the Naira policy of the Central Bank of Nigeria (CBN), led by Godwin Emefiele. According to the Nigeria Interbank Settlement System (NIBSS),

April 21, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

Official Market’s Foreign Exchange Dealers Reduce Dollar Rate

The official market’s foreign exchange rate closed at ₦462.50 kobo on Wednesday, 19 April 2023, as the Dollar loses ground to the Naira. Nigeria’s currency grew in value by 0.16 per cent at the end of trading, as traders dropped the price

April 20, 2023

Business

CBN Fines Union Bank N200 million For Cryptocurrency Trading

Union Bank of Nigeria (UBN) has been penalised by Nigeria’s financial regulator, the Central Bank of Nigeria (CBN), for enabling cryptocurrency trading. According to the commercial bank’s financial statements for the period of 2022, the central bank fined Union Bank N200 million

April 20, 2023

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Central Bank of Nigeria News - Page 5

IMF Says CBN’s eNaira Have Unknown Consequences

Criticism Trails Senate’s Approval Of CBN’s N22.7 trillion Loans To FG

CBN Hits Sterling Bank With N218 million Fine For Unfair Contract Terms, Others

Dollar Rate Up 47% Since CBN Banned Forex Sales To Black Market Sellers

CBN Receives New Redesigned Naira Notes From NSPMC, Tackles Panic Merchants

CBN’s Former Deputy Gov, Moghalu, Lists Problems Affecting Nigeria’s Growth

CBN Fines Access Bank N604 million For Breaching 3 Regulatory Orders

Nigerian Banks Earn N135.52 Trillion From CBN’s Naira Policy, E-Payments

Official Market’s Foreign Exchange Dealers Reduce Dollar Rate

CBN Fines Union Bank N200 million For Cryptocurrency Trading

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