Tag Archives: Central Bank of Nigeria

The Central Bank of Nigeria (CBN) has stated that it will not stop the sales of foreign exchange (FX) for payment of overseas tuition fees. The clarification was made by the bank on Thursday, following reports that withdrawal of the ‘Form A’ discounted rate will take effect from December 31, …

The Central Bank of Nigeria (CBN), says it is set to introduce the Unstructured Supplementary (USSD) code as part of steps to improve the Central Bank Digital Currency (CBDC). The Deputy Governor of the CBN, Kingsley Obiora, said this at the IMF African Department Speakers Series held virtually on Friday. Newsextra24 …

The Central Bank of Nigeria (CBN) has mandated the enrolment of other financial institutions (OFIs) on the credit risk management system (CRMS). The directive was given by CBN in a circular recently published on its website and signed by Chibuzo Efobi, director, financial policy and regulation department. CRMS is the practice …

The policy-setting committee of the Central Bank of Nigeria (CBN) has voted to raise the monetary policy rate (MPR), which measures interest rate, to 13 percent to tame rising inflation. The monetary policy rate (MPR) is the baseline interest rate in an economy, every other interest rate used within an …

The Central Bank of Nigeria (CBN) has said that there was no plan to replace the Naira notes in circulation with the eNaira, the digital currency, in the foreseeable future. The Director, Corporate Communications Department of the apex bank, Mr Osita Nwanisobi, at the weekend disowned report that the Bank …

The Central Bank of Nigeria CBN has said that the country will be faced with dearth of paper currency soon. This as the apex bank intensifies effort in the area of digital currency inclusion. The Delta State Branch Controller of CBN, Mr Godwin Okafor, made this known while Speaking at the …

Sokoto State Governor and Peoples Democratic Party, PDP, presidential aspirant, Aminu Waziri Tambuwal, has called on the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to as a matter of urgency resign his position in the interest of the nation’s economy. Tambuwal, who made the call while addressing …

The Central Bank of Nigeria (CBN) has foreclosed the possibility of adopting a clean float foreign exchange management approach as long as the supply shock remains. It, however, promised to continue to engage relevant stakeholders, including the International Monetary Fund (IMF) and the World Bank on best approaches to stabilising …

The Central Bank of Nigeria (CBN) has advised Nigerians to avoid dealing with unlicensed or illegal financial operators in the country through its Financial Services Regulation Coordinating Committee (FSRCC). The advice was given by the CBN through the FSRCC in a statement posted on its website on Monday. According to …

The Central Bank of Nigeria on Thursday announced the postponement of the planned unveiling of the digital currency, e-Naira. The launch was initially scheduled for October 1, but was postponed due to other activities lined up to commemorate the country’s 61st Independence Anniversary. The apex bank’s Director of Communications, Osita …