CBN Yet To Disburse N600bn Manufacturing Intervention Funds       The Central Bank of Nigeria (CBN) says N600 billion out of the N1 trillion COVID-19 intervention fund for manufacturers is still awaiting disbursement. CBN Governor, Godwin Emefiele, who disclosed it at the weekend, said N400 billion has already...

CBN Restructures Loans, Grants Another 12-month Extension       The Central Bank of Nigeria has given another 12-month extension on the discounted interest rate for its intervention facilities. It said that the role-over of the moratorium on the facilities would be considered on a case by case basis It...

Cryptocurrency: Traders Seek Six-month Suspension Of CBN’s Restrictions       Cryptocurrency operators are seeking temporary suspension of restriction on their trade. They (traders) have appealed to in the Central Bank of Nigeria (CBN) to partially suspend the ban for six months. In a report titled: “Much ado about cryptocurrency...

WorldRemit Supports CBN On New USD Bank Account Opening Process       WorldRemit, a cross-border digital payments service, has expressed support for directive of the Central Bank of Nigeria’s (CBN) mandating banks in Nigeria to facilitate money transfers by opening domiciliary accounts for those who currently do...

CBN To Inject N118bn Into DisCos       The Central Bank of Nigeria (CBN) will be disbursing N118 billion for power distribution projects across the six geopolitical zones. Senior Special Assistant to President Muhammadu Buhari on Public Affairs, Ajuri Ngelale, disclosed this on Sunday. This, he said, would enable...

CBN Instructs Banks To Open Dollar Accounts For Remittances       The Central Bank of Nigeria (CBN) has directed banks to automatically open dollar bank accounts for their customers who do not have domiciliary in order to facilitate remittances. The development, according to a statement from WorldRemit- an...