Naira Hits N1,430/$ at Parallel Market The naira strengthened to between 1,425 and 1,430 per dollar at the parallel market following the Central Bank of Nigeria’s renewed directive allowing the sale of foreign exchange to Bureau De Change operators, a development stakeholders say is already...

Banks Using Unaccredited Cheque Printers Risk N10m Fine - CBN   Deposit Money Banks risk a N10m fine and withdrawal of cheques from circulation if they engage unaccredited cheque printers, the Central Bank of Nigeria (CBN) has said. The apex bank disclosed this in a circular dated...

NDIC Targets ₦1.5tn Debt Recovery from 150 Liquidated Banks The Nigeria Deposit Insurance Corporation (NDIC) has intensified efforts to recover an estimated N1.5 trillion in outstanding debts and assets trapped in failed financial institutions by strengthening the capacity of debt recovery agents and deploying new...

CBN Approves BDC Participation in FX Market, Sets $150,000 Weekly Limit The Central Bank of Nigeria has approved the participation of licensed Bureau De Change operators in the Nigerian Foreign Exchange Market, allowing each BDC to purchase up to $150,000 weekly, according to a circular...

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have proposed regular joint audits of banks, telecom operators.

The Bank of Industry (BoI) has received approval from the Central Bank of Nigeria (CBN) to operate a non-interest banking window,