MONEY MARKET

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) has advised Nigerians to be beware of illegal money lenders, known as loan sharks. Emefiele said this on Tuesday at the end Monetary Policy Committee meeting in Abuja. Loan sharks offer loans at extremely high rate returns, strict terms of...

  The Central Bank of Nigeria (CBN) said in its latest report that the total money in circulation in the country increased by 6.2 per cent to N3.15 trillion in November 2021 compared with N2.97 trillion in October. The currency in circulations crossed the N3 trillion mark in November as...

   Prof. Lauren Cohen, L. E Simmons Professor of Business Administration, Harvard Business School, United States of America and other stakeholders on Thursday reeled out recommendations to deliver the success of the Central Bank Digital Currency (CBDC). They spoke at a symposium organised by the Financial Services Group Lagos of...

President Muhammadu Buhari will on Monday launch the Central Bank Digital Currency (CBDC), called eNaira, marking the formal start of the operation of the digital version of the Nigerian Naira (NGN). The Central Bank of Nigeria (CBN) had had earlier fixed October 1 for the launching, but it was shifted...

A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, says the value of the naira will fall from N570/$1 to N400/$1 at the parallel market if there is a massive rush of dollars into the Nigerian market through export earnings. Moghalu made this known in a PUNCH...

The Central Bank of Nigeria (CBN) says the e-naira which is set to be launched on October 1, 2021, is a legal tender equal to the value of the naira and thus must be accepted as a form of payment by all merchants and business outlets. The CBN Director, Payment...

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at the end of its 138th meeting on Friday insisted that the door has been permanently shut against Bureau De Change operators (BDCs) in the country and that no amount of pressure will make it rescind its decision....

The Central Bank of Nigeria (CBN), has announced the formal engagement of the global Fintech Company, Bitt Inc., as the Technical Partner for its digital currency, eNaira. Mr Osita Nwanisobi, Director, Corporate Communications of the Bank, made this known in a statement on Monday in Lagos, but this development was...

 The Central Bank of Nigeria (CBN) on Tuesday released a  framework to protect Other Financial Institutions (OFIs) against cyber attack.This was contained in a memo by Nkiru Asiegbu, CBN’s Director, Other Financial Institutions Supervision Department, addressed to the OFIs. Asiegbu said that the framework was necessitated by the number and...

  allays fears over dom account deposits Following Monday’s commencement of the Central Bank of Nigeria (CBN) directive to Deposit Money Banks (DMBs) to sell foreign exchange to customers, for invisibles such as basic travel allowance, PTA, medical and tuition etc, the Bank has assured members of the banking public...