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Tag "Central Bank of Nigeria"

BVN Now Compulsory For Investors In The Capital Market

BVN Now Compulsory For Investors In The Capital Market

🕔06:50, 13.Nov 2017

The use of Bank Verification Number(BVN) is now compulsory in the capital market as it will now be used as a means of identification to help verify customers. The Securities and Exchange Commission (SEC), the apex capital market regulator, has

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Senate Faults CBN On MTN Capital Flight Scandal

Senate Faults CBN On MTN Capital Flight Scandal

🕔06:41, 9.Nov 2017

The Nigerian Senate has faulted the Central Bank of Nigeria(CBN) on the capital flight scandal which involves telecom service providers, MTN. The Senate took this stand after the adoption of the report of the Senate Committee on Banking, Insurance and

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Forex: CBN Injects Another $195m Into The Economy

Forex: CBN Injects Another $195m Into The Economy

🕔06:15, 8.Nov 2017

The naira exchanged at an average of N360 to the dollar on the BDC segment of the market Tuesday.

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Government To Ban Physical Movement Of Dollars,Other Foreign Currencies

Government To Ban Physical Movement Of Dollars,Other Foreign Currencies

🕔06:15, 3.Nov 2017

The physical movement of dollars and other foreign currencies will now be banned, the Federal Government has disclosed. This move is being motivated by the efforts of the government to ensure scarcity of foreign currency and check money laundering. Ikenga

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BVN: Give Nigerians Abroad More Time– Buhari’s Aide Urges CBN

BVN: Give Nigerians Abroad More Time– Buhari’s Aide Urges CBN

🕔06:48, 25.Oct 2017

Nigerians in Diaspora had been remitting billions of U.S. dollars back to the country on yearly basis, and this directive means they will lose all that money

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WARNING: Govt To Take Over Funds In Bank Accounts Without BVN

WARNING: Govt To Take Over Funds In Bank Accounts Without BVN

🕔05:59, 22.Oct 2017

Report has just emerged that the Central Bank of Nigeria(CBN) has directed all commercial banks to crack down on customer’s accounts over Bank Verification Number(BVN). In a memo to the Nigeria Inter-Bank Settlement System(NIBSS), Deposit Money Banks(DMBs), and Other Financial

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CBN Intensifies Support To The Economy With Fresh $195 Million

CBN Intensifies Support To The Economy With Fresh $195 Million

🕔06:22, 17.Oct 2017

The Central Bank of Nigeria(CBN) on Monday intensified its support for the economy with another $195 million pumped into the interbank foreign exchange market. A breakdown of the figure shows that the CBN offered a total sum of $100 million

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Forex Market Gets $195 Million Boost

Forex Market Gets $195 Million Boost

🕔06:31, 10.Oct 2017

The Forex market has been boosted by the Central Bank of Nigeria(CBN) with another $195 million to help make it liquid. A breakdown of the $195 million injected into the economy shows that about $100 million was deployed to the

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Export Proceeds: CBN Vows To Sanction Defaulters

Export Proceeds: CBN Vows To Sanction Defaulters

🕔07:20, 6.Oct 2017

The Central Bank of Nigeria(CBN)on Thursday vowed that it will sanction exporting firms who default in the remittance of export proceeds. Expressing concern over the would-be effect over the economy, the Director, Banking Supervision, CBN, Ahmad Abdullahi, at a press

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CBN Intervention Helps Naira Maintain Gain

CBN Intervention Helps Naira Maintain Gain

🕔07:14, 5.Oct 2017

The naira has continued to regain its stance after closing at 363 naira/dollar at the end of Wednesday. Recall that there was no trading on Monday following the declaration of a public holiday by the Federal Government to celebrate the

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