Nigerians Displeased With Inflation Control Measures - CBN         In what could be interpreted as an admission of its shortcomings and self-indictment, the Central Bank of Nigeria (CBN) has admitted that Nigerians are displeased with the management of the country’s inflation. Experts had balked at efforts taken...

CBN To Charge Protection Fees On Non-interest Securities         The Central Bank of Nigeria (CBN) says it will charge protection fees from investors in its Non-Interest Asset Backed Securities. One of the features of the CBN Non-Interest Asset Backed Securities (CNI-ABS), contained in a draft framework issued...

Naira Recovery Against Dollar To Begin February 2021 - CBN         The Central Bank of Nigeria (CBN) has said the naira will begin recovery against the dollar and other global currencies from February 2021. This was contained in the latest CBN Business Expectation Survey released by its...

PMI Report Indicates Contraction In 70% Of Economic Subsectors         Central Bank of Nigeria (CBN) said that 70 percent of the sub-sectors surveyed for its monthly Purchasing Managers Index (PMI) experienced contraction in December. The report showed that out of 31 sub-sectors surveyed, 22 recorded contraction while...

CBN Revokes Licenses Of 7 Payment Service Providers         The Central Bank of Nigeria (CBN) has revoked the license of seven payment service providers since December 4, 2020. The agencies include Easifuel Limited, Transaction Processing System (TPS), Grand Towers Limited, and Paymastwer Limited. The rest are E-Revenue Gateway...

CBN Directs Banks To Close Naira Remittances Ledgers       The Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) to close all ‘Naira General Ledgers’ used by the lenders to remit naira to Diaspora remittances beneficiaries. CBN Governor, Godwin Emefiele who gave the directive to...