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Africhange Secures CBN’s IMTO Licence To Boost Cross-Border Remittances

Africhange, a cross-border remittance service provider has announced that its Nigerian subsidiary, Currenzo, has secured the International Money Transfer Operator licence from the...
Business

FBN Holdings To Surpass CBN’s N500bn Recapitalisation, Targets N730bn

The Group Managing Director of FBN Holdings, Nnamdi Okonkwo, has announced plans to bolster Nigeria’s oldest banking group to a N730bn capital base by...
Business

CBN, NIBSS To Transform Remittance Flows With Investment-Driven Approach

The Central Bank of Nigeria (CBN), along with the Nigeria Inter-Bank Settlement System (NIBSS), Nigerian banks, and International Money Transfer Operators (IMTOs) convened in...
Business

Cardoso Vows To Bring Down Inflation As CBN Reforms Bolster Investors Confidence

The Central Bank of Nigeria (CBN) has said that it is ready to deploy all available tools to manage inflation effectively as the current...
Business

Diaspora Remittances In Quantum Leap As CBN Embarks On Ambitious Reforms

Nigerians living in the diaspora have sent at least $1.5bn to their relatives back home in six months as the country received a record...
Business

IMF Cautions CBN, Others Against Aggressive Interest Rate Hikes

The International Monetary Fund (IMF) has cautioned central banks against aggressive interest rate hikes in their effort to tame rising inflation.The Washington-based lender advised...
Business

More Cash, Less Value: Forex Depreciation Cuts Value Of FAAC Allocation To FG, States, LG By 33%

The three tiers of government are not benefiting from the rise in monthly Federation Accounts Allocation Committee (FAAC) revenue as the real value of...
Business

Why CBN introduced FX matching system – Cardoso

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said at the weekend the apex bank introduced the Electronic Foreign Exchange Matching...
Business

CBN Gives Deadline For Banks, Others To Migrate To Electronic Fx Matching System

The Central Bank of Nigeria (CBN) has introduced the Electronic Foreign Exchange Matching System (EFEMS) for conduct of Foreign Exchange transactions on the official...
Business

CBN Releases New Forex Codes To Check Exchange Rate Manipulation

The Central Bank of Nigeria (CBN) has released the Nigeria Foreign Exchange Code (FX Code) to strengthen the country’s FX market.The document which was...
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