MONEY MARKET

The Naira lost marginally to the dollar at the parallel market in Lagos on Monday, exchanging at N382 to a dollar, lower than N380 to a dollar traded on Friday. The Pound Sterling and the Euro traded at the parallel market at N622 and N575, respectively. At the Bureau De...

The Central Bank of Nigeria (CBN) on Wednesday said the implementation of the cashless policy aimed at promoting financial inclusion had increased the risks associated with electronic banking in the country. Mr Hassan Bello, the CBN Director, Banking Supervision Department said this at the First Bank of Nigeria Information Security...

Following the creation of credit support intervention fund by the Central Bank of Nigeria (CBN) for the health sector, Unity Bank Plc has launched a product called UnityCares intended to ease the facilitation of on-lending scheme targeted at individuals, businesses, manufacturers and services providers in the healthcare sector. UnityCares is...

The Central Bank of Nigeria (CBN) has released guidelines for the implementation of the proposed N75 billion Nigerian Youth Investment Fund (NYIF). CBN, in a statement by its Development Finance Department, stated that the fund would be used effectively to respond to the challenge of youths’ employment in Nigeria. According...

The Central Bank of Nigeria (CBN) has approved new requirement for the appointment of chief compliance officers (CCOs) by banks. The apex bank in a letter titled: “Re: Status of Chief Compliance Officers,” signed by its Director, Financial Policy and Regulation Department, Kevin Amugo, said that merchant banks, regional banks...

 The Central Bank of Nigeria (CBN) has received 2,051 frauds, ATM card, electronic transactions and excess charges related complaints from bank customers between January and June. Mr Haruna Mustafa of Consumer Protection Department of CBN, said this at the 2020 workshop for Finance Correspondents Association of Nigeria (FICAN) in Lagos....

The Central Bank of Nigeria (CBN) has cautioned business owners against fraudulent loan offers, especially through the social media. Mr Osita Nwanisobi, CBN Acting Director, Corporate Communications, gave the warning in a statement on Friday in Abuja. Nwanisobi said that the apex bank was aware that some fraudulent individuals send...

Finanical experts on Tuesday expressed mixed reactions to the 100 basis points slash in the Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). The financial experts spoke with the News Agency of Nigeria (NAN) in Lagos on the outcome of the...

The Federal Government on Thursday directed all bank account holders in the country to undergo a “self-certification” process. In the directive issued via federal government’s official Twitter handle, account-holders are required to obtain, complete and submit the self-certification forms to their respective financial institutions. Individuals with accounts in different financial...

The currency in circulation dropped by N25.03 billion from N2.39 trillion as of the end of July to N2.36 trillion as of the end of August, latest figures from the Central Bank of Nigeria (CBN) revealed on Thursday. At the end of May, the figure which was N2.35 trillion rose...