CBN Threatens To Go Tough On BVN Violators The Central Bank of Nigeria has said in its revised regulatory framework for Bank Verification Number operations that violators will be sanctioned. It said this in a circular to all deposit money banks, mobile money operators, super agents...

External Reserves Increase By $42bn, Hit 25-month High On Eurobond Inflow   Nigeria’s external reserves have risen to its highest level in 25 months to $42 billion presently due to the inflow of the recent Eurobond issued by the federal government. Although, the Central Bank of Nigeria’s...

CBN Says Nigeria’s Payment System Attracted $500m Investments In Five Years   The Central Bank of Nigeria has said the country’s payment system attracted about $500m worth of investments between 2015 and 2020. The Central Bank Governor, Godwin Emefiele, disclosed this on Wednesday while speaking on the...

Banks Begin Integrating e-Naira App   Banks have started to onboard the e-Naira feature on their applications. In its latest update, the Guaranty Trust World app has integrated a e-Naira feature. However, when opened, the bank said, “Kindly note that you will need to download and onboard on...

Nigeria Spent N1.47trn On Debt Servicing In H1, 2021           Nigeria spent N1.47tn on debt servicing payments in the first half of 2021, data obtained from the Debt Management Office have shown. In the first quarter of the year, the country spent N1.02tn on both domestic and...

CBN Backs Wheat Value Chain To Boost Foreign Reserves           The Central Bank of Nigeria has expressed its determination to address the existing challenges in the country’s wheat value chain as part of efforts to shore up the country’s foreign reserves. In a statement on Sunday titled...