Browsing Tag

CBN

CBN Name Its Technical Partners for e-Naira

Technical Partner for digital currency, e-Naira has been selected by the Central Bank of Nigeria (CBN) has and the lucky Fintech company is Bitt Inc.. e-Naira is expected to be launched before the end of 2021. Governor Godwin Emefiele…

CBN Warns Microfinance Banks Against FOREX Transactions

The Central Bank of Nigeria (CBN) has issued a strong warning to microfinance banks in the country, to stop engaging in foreign exchange transactions and other unauthorised dealings. In a circular titled "Cessation of Non-Permissible…

CBN Ends Sales Of FOREX To BDCs Operators

The Central Bank of Nigeria (CBN) has announced the ban of sale of Foreign Exchange (Forex) to Bureau De Change (BDCs) operators in the country. While speaking at the end of the monetary policy committee meeting in Abuja on Tuesday, the…

CBN To Launch Its Digital Currency On October 1

The Central Bank of Nigeria (CBN) has finally announced that it will be launching the pilot scheme of its digital currency on October 1, 2021. The Apex bank with its stakeholders outlined its digital currency initiative via a private…

CBN To Start Printing Currency For The Gambia

The Central Bank of Nigeria (CBN) will soon start minting money for the Central Bank of the Gambia. This is coming after an agreement has been reached in principle between the CBN Governor, Godwin Emefiele, and his Gambian counterpart, …

CBN Officially Devalued Naira Again

The Central Bank of Nigeria (CBN) has yet again officially devalued naira as a result of its introduction of the new Nigerian Autonomous Foreign Exchange (NAFEX). The Nigeria apex bank has depreciated the currency by 8 percent, to…

Crypto Ban: Senate Summons CBN Governor, SEC DG

The Nigerian Senate on Thursday directed the the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele to appear before its Committees on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes, and Capital Market to…

CBN Bans Banks From Cryptocurrency Business

The Central Bank of Nigeria, CBN, has ordered Deposit Money Banks (DMBs), Other Financial Institutions (OFIs) and Non-Bank Financial Institutions (NBFIs) local financial institutions against having any transactions in crypto or facilitating…
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