Browsing Tag
Central Bank of Nigeria
15 posts
Nigeria’s Monetary Policy Committee Meet
Following the passage of the Central Bank of Nigeria Act (2007) into law by the National Assembly, the…
Nigeria’s External Reserves Dipped by $523m in Two Weeks
The external reserves, which had recently continued to spiral downward, lost $1.1bn in February, after it dipped from $36.19bn as of February 1, fell to $35.09bn as of February 26.
Nigeria’s Apex Bank and Communications Commission Peg USSD Charges at N6.98
According to the joint statement signed, the N6.98k per financial transaction conducted at Commercial Banks and all CBN-licensed institutions would replace the current per session billing structure which was N10, thereby ensuring a cheaper average cost for customers to facilitate financial inclusion.
Nigeria’s Foreign Exchange Inflow Soars to $23.60bn
Consequently, the aggregate foreign exchange inflow in the fourth quarter of 2020 was $23.6bn, compared with $21.46bn and $36.32bn in the third quarter of 2020 and the corresponding quarter of 2019, respectively.
Nigeria’s Central Bank Bans Cryptocurrency Trading
"Further to earlier regulatory directives on the subject, the bank hereby wishes to remind regulated institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrencies exchange is prohibited."
Kenyan Start-up Pula Raises $6 Million in Series A Funding
The start-up specialises in digital and agricultural insurance to protect smallholder farmers in Africa from risk.
Central Bank of Nigeria Lends N1.7tn to Deposit Money Banks
“Total SLF granted during the review quarter was N1.7tn, made up of N866.93bn direct SLF and N833.53bn Intraday Lending Facilities converted to overnight repo."
Nigeria Cancels License of 42 Microfinance Banks
The Central Bank of Nigeria (CBN) has cancelled the operating licenses of 42 microfinance banks. Nigeria Deposit Insurance…
Nigeria’s Monetary Policy
The Monetary Policy Committee of Nigeria’s Central Bank (CBN) has retained key lending rates at 11.5 percent. CBN…
Nigeria’s Manufacturing PMI Recovers in November
The Central Bank of Nigeria’s Manufacturing Purchasing Managers’ Index (PMI) stood at 50.2 index points in November. This…