CBN Revokes Operational Licenses of 4,173 BDCs   The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change operators. This, the apex bank said, is in exercise of the powers conferred on it under the Bank and other Financial Institutions Act (BoFIA)...

Customs Duties on Imported Goods Rise by 93% With the continued depreciation of the naira against the dollar, customs duties paid on imported goods have risen by about 93 percent since the federal government’s foreign exchange reform kicked in eight months ago. The cost of clearing...

Customs Duties on Imported Goods Rise by 93% With the continued depreciation of the naira against the dollar, customs duties paid on imported goods have risen by about 93 percent since the federal government’s foreign exchange reform kicked in eight months ago. The cost of clearing...

How $26bn was Diverted Through Binance in One Year – Cardoso The Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso has said the apex is working with Securities and Exchange Commission (SEC) to ride the forex market of all illegalities. Cardoso said the...

Violators of Forex Guidelines will Face Consequences - Cardoso The Central Bank of Nigeria (CBN) governor, Mr Olayemi Cardoso, has said that the apex bank is currently working in collaboration with law enforcement agencies to tackle the infractions and manipulations going on in the Forex...

UPDATE: Why we Jerked up Interest Rate - Cardoso The Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, has said that the hike in interest rates is a response to the current inflationary pressures and the need to stabilise the Naira. Mr Cardoso made the clarification...