Diaspora Remittances: ABCON Advocates Measures To Counter Cryptocurrencies       Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to introduce measures that will counter the advantages of cryptocurrencies exchanges as a channel for diaspora remittances. Making this call...

Foreign Reserves Gain $620m From Remittances     After gaining $620 million from diaspora remittances in two weeks, the foreign exchange reserves jumped to $35.026 billion, a data from the Central Bank of Nigeria (CBN) has shown. The accretion, the highest in over a month, has been attributed...

CBN Plans To Strengthen Risk Management In OFIs       The Central Bank of Nigeria (CBN) has taken moves to strengthen risk management in the financial services subsector categorized as Other Financial Institutions (OFIs), mainly mortgage banks, Finance Houses and micro-finance banks. The move is aimed at taking...

ABCON Seeks CBN’s Approval For Training Institute       The president, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe has appealed to the Central Bank of Nigeria (CBN) to approve the association’s proposed training institute to provide capacity for its members. He made the appeal...

CBN To Place Wheat, Sugar On Forex Restriction List     The Central Bank of Nigeria (CBN) is working to include sugar and wheat on the list of commodities that will be banned accessing foreign exchange (FX). CBN Governor Godwin Emefiele made this disclosure on Thursday in Awe,...

Forex Scarcity Cripples Local Airlines, Spike Airfares     The foreign exchange (FX) liquidity crisis is eating deeper into the daily operations of the local airlines, causing airlines’ capacity to dwindle and hitting up airfares. The Economic Confidential, yesterday, learned that operators in the aviation sector have not...