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Finance
CBN Increases Interest Rate To 22.75% To Curb Rising Inflation
The Central Bank of Nigeria (CBN) has raised the monetary policy rate by 400 basis points to a record 22.75 per cent from 18.5 per cent.
Members after the two-day meeting in Abuja increased the asymmetric corridor to +100 basis points …
$26bn Passed Through Binance Nigeria In One Year – Cardoso
The Central Bank of Nigeria (CBN) governor Yemi Cardoso says over $26 billion has passed through Binance Nigeria in the last four years.
Cardoso said this on Tuesday after the MPC meeting in Abuja.
‘In the case of Binance, in the…
Mixed Feelings Await Cardoso’s Maiden MPC Meeting
Analysts have expressed mixed monetary outcomes from the maiden Monetary Policy Committee (MPC) to be presided over by Governor Yemi Cardoso at the Central Bank of Nigeria (CBN).
The MPC meeting commenced on Monday and is expected to…
CBN Amends FX Rates For Customs Duty On Importation
The Central Bank of Nigeria (CBN), has reviewed the formula for fixing foreign exchange rates for Customs duty on importation.
Dr Hassan Mahmud, the Director, Trade and Exchange Department of the CBN said this in a memo addressed to the…
CBN Mandates FX Sellers Of $10,000 And Above To Declare Sources
The Central Bank of Nigeria (CBN) has said that foreign exchange sellers to Bureau De Change (BDC) of the equivalent of 10,000 dollars and above are required to declare their forex sources.
The apex bank stated this in a revised…
ABCON Boss Cautions Members On Regulatory Infringement
The Association of Bureau De Change Operators of Nigeria (ABCON) has cautioned its members on the need to abide by extant laws establishing them.
ABCON President, Alhaji Aminu Gwadabe, in a statement on Friday, warned licensed operators…
World Bank Grants Zambia, Tanzania $270m To Improve Transport, Trade Connectivity
The World Bank has given Zambia and Tanzania a 270-million-U.S.-dollar grant to help improve transportation and trade connectivity.
Achim Fock, the World Bank Country Manager for Zambia, said in a statement that the project is a…
Citibank Fails To Disclose 5yrs’ Fees On FG’s N643bn Revenue On Remita
Citibank Nigeria Limited may run into troubled waters with federal lawmakers over its failure to disclose the total sum of the fees it earned over the N643,427,225,110.96 revenue it collected on behalf of the federal government through…
FG Auditing 22.7trn CBN ‘Ways And Means’ Loans — Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the President Bola Tinubu administration is auditing the 22.7 trillion naira Ways and Means loans approved by the government of ex-President Muhammadu Buhari.…
Cryptoverse: Breezy Bitcoin Reclaims $1 Trillion Crown
The world's largest cryptocurrency has leapt 22% this year to $52,005, pushing it past a market value of $1 trillion mark for the first time since its record heyday of late 2021.
Its resurgence has electrified the broader cryptocurrency…