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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...

Business

BREAKING: CBN Ignores Expert Warnings, Raises Interest Rate To 27.75

The Central Bank of Nigeria has surprisingly raised the monetary policy rate to 27.75 per cent despite warning from experts.The CBN governor, Olayemi Cardoso,...

Business

JUST IN: CBN Denies Re-Introducing Cyber Security Levy

The Central Bank of Nigeria has denied the re-introduction of the controversial cyber security level it abandoned in May after public outcry.The apex bank...

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