Tag Archives: CBN

The Central Bank of Nigeria, on Saturday, directed all commercial banks to resolve disputes arising from use of Unstructured Supplementary Service Data (USSD) channel within three days. Mr Dipo Fatokun, CBN’s Director, Banking and Payment Systems Department, gave the directive at the ‘Meet The Executive’ forum organised by Finance Correspondents Association of Nigeria (FICAN) in Lagos. Fatokun, represented by Assistant …

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Following the political crisis in Guinea Bissau, the Central Bank of Nigeria (CBN) has ordered banks to disclose all existing accounts, including business interests or relations linked to the 19 persons which it said had been placed on targeted sanction. The Central Bank in a circular yesterday, also urged banks to ensure that their subsidiaries conduct similar checks and render …

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Despite the mixed signal coming from the global economy, the Central Bank of Nigeria (CBN) and bankers committees on Thursday June 14, 2018 has assured Nigerians and the investing community that the CBN has enough reserve to withstand any external shock. CBN director of banking supervision Ahmad Abdullahi disclosed this to financial journalist in Lagos. Abdullahi noted that the bankers …

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Financial and economic experts have said a downward review of the Monetary Policy Rate by the Central Bank of Nigeria will no longer be necessary. Private sector operators and some stakeholders, including experts have been clamouring for a reduction in the MPR to enable the real sector to access more credit from banks. According to the experts, who spoke to …

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The Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars to meet customers’ requests in various segments of the foreign exchange market. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor in a statement in Abuja said the bank offered 100 million dollars to authorised dealers in the wholesale segment of the market. He said that the Small and Medium …

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Hearty congratulations are undeniably to be in order for the Central Bank of Nigeria (CBN), FMDQ OTC Securities Exchange (FMDQ or the OTC Exchange) and the Financial Markets Dealers’ Association (FMDA), the association of FMDQ Dealing Member (Banks), as a most commendable feat has been achieved in the fixed income market – Straight-through-Processing (STP) for the settlement of fixed income …

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The Central Bank of Nigeria (CBN) on Thursday, released guidelines for the bilateral currency swap agreement between Nigeria and China. The CBN gave the guidelines in a document signed by its Director, Financial Markets Department, Dr. Alvan Ikoku, and posted on its website. The regulator, in a document titled, “Regulations for Transactions with Authorised Dealers in Renminbi,” said it might …

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The Central Bank of Nigeria (CBN) on Monday reviewed upwards the trading margin for Bureau De Change (BDC) operators to N357/$1 (buying) and sell at N360/$1 (selling). This gives BDCs  N3 margin per dollar sold. The BDCs previously bought from the apex bank at N360/$1 and sold at N362/$1 before the review. Speaking on the development,  CBN Acting Director, Corporate …

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The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the foreign exchange market. In its quest to meet customers’ needs in the various segments of the market, the CBN offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) …

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The Central Bank of Nigeria will next week release the framework that will guide the implementation of the $2.5 billion currency swap deal between Nigeria and China. The CBN Governor, Mr. Godwin Emefiele, confirmed this while speaking to journalists on Tuesday shortly after the two-day Monetary Policy Committee meeting held at the apex bank’s headquarters in Abuja. The currency swap …

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