Browsing Tag

CBN

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…

CBN Shuts Down 42 Microfinance Banks (See Full List)

The Central Bank of Nigeria (CBN) has revoked the operating licences of 42 microfinance banks in the country. The report was made public on Friday in a statement titled "Notice of closure of 42 microfinance banks", by the Nigeria Deposit…

How To Apply Up To ₦10 Million Collateral-free CBN Loan

If your business is ready to take a leap or you just need working capital to keep your business running, a loan could be a good option for you. AGSMEIS is a federal government intervention funding scheme through CBN that promotes Agric…

Coming Soon: National Youth Investment Fund (NYIF)

Back in August, the Minister of Youth and Sports Development, Mr. Sunday Dare disclosed that the Ministry of Finance and the Central Bank of Nigeria will both make provision for funds towards the launch of the N75 billion National Youth…

Nigeria Foreign Exchange Reserves Drops By $47.3m

Nigeria foreign exchange reserves have dropped by $47.33 million to close weekend at $35.77 billion, increasing the fears of further depreciation in the nation’s currency. Recall that the Central Bank of Nigeria, CBN has commenced an…