CBN's NRBVN Rollout: Rewiring Diaspora Banking Access
By Zekeri Idakwo Laruba
In a landmark move to drive financial inclusion and boost diaspora engagement, the Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has unveiled the Non-Resident Bank Verification Number (NRBVN)....
MPC: Reps Warn CBN Against Interest Rate Hike
The House of Representatives Committee on National Planning and Economic Development has warned the Central Bank of Nigeria (CBN) against the adverse effects of maintaining high interest rates in its bid to curb inflation.
Chairman of the committee,...
Bullish Trend: Investors Gain N186bn in Market Capitalisation
The Nigerian Exchange Limited recorded a bullish trading session on Wednesday, as investors gained N186bn in market capitalisation, driven by buying interest in major consumer goods, banking, and oil and gas stocks.
At the session’s close, the All-Share...
Naira Stable at ₦1,630/$ in Black Market Amid Lingering Forex Pressures
The naira remained stable on Wednesday in the parallel foreign exchange market, maintaining the same rate recorded at the close of trading on Tuesday.
A source at the Abuja black market told Economic Confidential that...
World Bank Faults FG Cash Transfer Programme
The World Bank has faulted the Federal Government’s conditional cash transfer programme, stating that the initiative failed to reach millions of Nigerians in need of urgent economic relief, as only 37 per cent of the targeted households had...
CBN Launches Diaspora BVN Platform, Targets $1bn Monthly Remittances
The Central Bank of Nigeria, in collaboration with the Nigeria Inter-Bank Settlement System, has launched the Non-Resident Bank Verification Number platform, an initiative aimed at enhancing financial access for Nigerians in the diaspora.
The platform, which enables...
