Breaking News

Tag Archives: CBN

Nigerian Banks to Charge N6.98 for USSD Services

The Central Bank of Nigeria and Nigerian Communications Commission have jointly approve the introduction of new charges for customers using the Unstructured Supplementary Service Data services (USSD). This was contained in a statement released on Tuesday and jointly signed by the apex bank’s Acting Director, Corporate Communications, Osita Nwanisobi; and …

Read More »

Dangote Refinery to Sell Refined Crude to FG in Naira – CBN

The governor of Central Bank of Nigeria, CBN, Godwin Emefiele, says arrangement is being made to enable the Dangote Refinery sell refined crude to Nigeria in naira when it commences production. Mr Emefiele also disclosed that the first shipment of Urea from the Dangote Fertiliser Plant would begin in March …

Read More »

CBN Orders Banks to Close Cryptocurrency Accounts

The Central Bank of Nigeria (CBN) has ordered banks to close corporate and personal accounts transacting in cryptocurrency in Nigeria. This is according to a circular dated 5th February 2021 distributed to deposit money banks (DMBs), non-bank financial institutions (NBFIs), and other financial institutions (OFIs). “Further to earlier regulatory directives …

Read More »

Banks to Start Payment of Forex Remittances to Nigerians Friday

Nigerian commercial banks and international money transfer operators (IMTOs) and commercial have agreed to start paying beneficiaries of diaspora remittances in foreign currencies through the designated bank of their choice, the Central Bank of Nigeria has announced. This followed the apex bank’s insistence that all Deposit Money Banks (DMBs) must close all …

Read More »

CBN Devalues Naira, Fixes Rate At N392/Dollar

The Central Bank of Nigeria (CBN) has directed bureau de change operators in the country not to sell dollars higher than N392 to end users. The Central Bank also devalued the Naira by N6 to Dollar, this brings the Naira closer to the exchange rate unification policy recommended by the …

Read More »