CBN Disowns Fake Contract Award …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) has warned members of the public that some fraudsters are planing to deceive Nigerians with fake contracts. The apex bank disclosed that the perpetrators have in their possession award letters of contracts related to construction works and special financial interventions … Read more
Despite hardship, CBN raises Nigeria Customs Duty …C0NTINUE READING HERE >>> Despite the hardship ravaging Nigeria , the Central Bank of Nigeria (CBN) has adjusted the Customs duty exchange rate for clearing goods at the nation’s ports to N1,658.87 per dollar. This change, effective Monday, November 18, reflects a 0.37% increase from the previous … Read more
CBN sends strong warning to commercial banks over Naira hawking …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) says it will heavily penalise Deposit Money Banks (DMBs) found supporting the hawking of Naira notes. Mr Solaja Olayemi, Acting Director, Currency Operations Department, CBN, said this in a memo to DMBs on Friday in … Read more
‘It Is False And Fraudulent’ …C0NTINUE READING HERE >>> The Nigerians in Diaspora Commission (NiDCOM) has disassociated itself from allegations concerning a supposed ₦40 million mortgage pre-financing initiative involving HXAFRICA and the Federal Mortgage Bank of Nigeria. In a statement issued on Friday, NiDCOM characterized these allegations as untrue and deceptive. The disclaimer, which was … Read more
Nigeria’s Inflation Rate Rises to 33.8% Under President Tinubu …C0NTINUE READING HERE >>> Nigeria’s inflation rate has risen to 33.8% under President Tinubu. Newsone Nigeria reports that the National Bureau of Statistics (NBS) says Nigeria’s inflation rate was 33.88 percent in October — up from 32.7 percent in September. The data is captured in the NBS’ latest consumer price index … Read more
Woman begs CBN to permanently scrap POS businesses …C0NTINUE READING HERE >>> A Nigerian woman recently took to social media platform X (formerly Twitter) to express frustration over POS businesses, calling on the Central Bank of Nigeria, CBN to permanently shut them down. In her detailed post, she shared her dissatisfaction with the widespread use … Read more
Senate removes CBN power to appoint CEO of NDIC …C0NTINUE READING HERE >>> The Central Bank of Nigeria, CBN has been stripped of its power to appoint the CEO of the Nigerian Deposit Insurance Corporation, NDIC. Nigerian Senate on Tuesday stripped the CBN its power through an amendment of the Bank Deposit Regulator’s … Read more
Concerns As Naira Continues Fall Against US Dollar, Hits ₦1,740/$1 In Parallel Market …C0NTINUE READING HERE >>> Experts have expressed concern as Nigeria’s currency, the Naira, continues its depreciation trend, with the exchange rate hitting ₦1,740/$1 in the parallel market after trading last weekend. Henzodaily reports that the Naira exhibited stability with slight appreciation in … Read more
IBRAHIM MODIBBO CBN: The diaspora exploration …C0NTINUE READING HERE >>> By Dr Ibrahim Modibbo In the race towards globalization and multiculturalism in moderneconomies, consensus is built around strategic thinking for the commongood of the people. Conscious of the enormity of myriad of problemsconfronting the Nigerian economy, the Apex Bank, Central Bank of Nigeriais strategizing with … Read more
Reps Knocks CBN Over Old ₦200, ₦500, ₦1000 Validity …C0NTINUE READING HERE >>> The Labour Party Caucus Leader in the House of Representatives, Afam Ogene, has criticized the Central Bank of Nigeria (CBN) for its lack of clarity regarding the use of both old and new Naira notes. Ogene’s statement, released in Abuja on Friday, … Read more