IMF Supports CBN On Cryptocurrency Ban       The International Monetary Fund (IMF) has confirmed that some crypto currencies were being used for money laundering and drug trafficking. This confirmation from the IMF thus corroborates what the Central Bank of Nigeria (CBN) has been saying about cryptocurrency transactions...

External Reserves Decline By $565m In Two Weeks       The country’s external reserves dipped by $565m from $36.198bn as of February 1, to $35.633bn as of February 15, latest figures from the Central Bank of Nigeria revealed on Wednesday. The reserves which had gained in recent weeks...

Naira Gains Slightly, Exchanges For 473/$     The naira on Monday exchanged at 473/$ at the parallel market, after trading at 477 the previous week. At the Investors & Exporters forex window, the naira hit a high of 422/$ before closing at 390/$. The Central Bank of Nigeria...

Non-oil Exports Decline By 5% To $870m In Three Months       Nigeria’s non oil export earnings fell by five percent to $870 million in three months to November 2020, from $920 million in the previous three months. But the top ten non oil exporters grew their export...

SEC, CBN To Work On Digital Assets Regulation     Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) has reached an understanding with the Central Bank of Nigeria (CBN) to develop an appropriate regulatory framework for digital assets in line with the mandates of the...

ABCON Seeks CBN Support On BDCs’ Digitalisation     The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to support the migration to digital operations by Bureaux de Change (BDCs). ABCON President, Aminu Gwadabe, in a statement, said BDC...