The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has welcomed the release of the much-anticipated circular of the Central Bank of Nigeria (CBN) on the banking sector recapitalization and believes that while Nigerian banks are globally regarded
The Federation Account Allocation Committee (FAAC) has shared a total sum of N 1,152,756,000,000 February 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils. This was contained in a statement by Bawa Mokwa, Director Press and
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs have now been settled, fulfilling a key pledge of the CBN Governor, Mr. Olayemi Cardoso, to process an inherited backlog of US$7 billion in claims. This
The Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflow into the economy in February 2024, with marked increments in remittance payments by Nigerians overseas and purchases of naira assets by foreign portfolio investors. According
Indications are rife that the quest for a single currency by the West African Monetary Zones (WAMZ) will not be happening anytime soon as the convergence indicators have declined significantly. Director- General of the West African Monetary Institute (WAMI) Dr. Olorunsola
The Development Bank of Nigeria (DBN) has said that its disbursement to Small and Medium Enterprises (SMEs) has hit N700 billion in the last seven (7) years. The Managing Director of DBN, Mr Tony Okpanachi made the disclose this Friday during
The Central Bank of Nigeria (CBN), on Friday, March 1, 2024, concluded a sale of government securities, issuing N1.053 Trillion (US$680 million) in short-term instruments as part of its liquidity management exercise. It offered N500 Billion at the Open Market
The Fund for Export Development in Africa (FEDA), a subsidiary of the African Export-Import Bank (Afreximbank) dedicated to fostering development impact, has announced Egypt’s accession to its Establishment Agreement. With Egypt’s longstanding position as a founding shareholder and the host
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) after its first meeting for the year decided to further tighten monetary policy and subsequently raise the MPR by 4 percent to 22.75 from 18.75 percent, raise the
The Central Bank of Nigeria (CBN), this friday revoked the licenses of 4,173 Bureaux De Change Operators. The apex regulator said the action is in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act (BOFIA)
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