Banking and Finance

Following the directive of the Central Bank of Nigeria (CBN) barring international money transfer operators (IMTOs) from paying Nigerians in foreing currencies, Nigerians abroad will no longer be able to send dollars or any foreing currency into bank accounts in the country. IMTOs…

The Central Bank of Nigeria has removed the ±2.5 per cent cap spread on interbank foreign exchange transactions. The CBN disclosed this in a circular dated February 8, 2024, signed by the Director, Financial Markets Department, Dr. Duke Omotunde. The circular notes that restrictions…

THE Central Bank of Nigeria has directed regulated entities to inform customers about outstanding obligations before initiating debt collection. This is to guarantee a transparent, courteous, and equitable debt recovery process. The directive was issued in a document titled “Revised Consumer Protection Regulations” released…

The Governor of the Central Bank, Yemi Cardoso says the measures taken so far by the apex bank to stabilize foreign exchange rates have started yielding positive results. He noted that these measures would help to stabilise the foreign exchange rates and minimize…

The governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, has blamed the depreciation of the naira on the growing numbers of Nigerians going abroad for education and medical treatment. Cardoso spoke on Tuesday during a plenary at the House of Representatives. His appearance…

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that Foreign Portfolio Investors want the country to carry out policy reforms to enable them to bring in their funds. Cardoso said this on Monday during an interview on Arise TV,…