CBN Takes E-Naira To Kano Varsity For Payment Of Tuition, Others   In its bid to raise awareness and invite more subscribers to the E-Naira policy, the Central Bank of Nigeria (CBN) in Kano has taken its mobilization to the Aliko Dangote University of Science and...

Forex Turnover In I&E Rises By 78% To $2.5bn   The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose by 78.5 per cent, month-on-month (MoM) to $2.5 billion in May 2023 from $1.4 billion the previous...

CBN Reveals Earnings From Electricity Export Drop By 27%   Nigeria’s electricity export crashed by $58.1m in one year amid grid collapse. Data from the Central Bank of Nigeria showed that the value of Nigeria’s electricity export was $213.66m in 2021 but dropped to $155.56m in 2022....

Banks Begin Collection Of Tax Certificate On Forex Requests   Commercial banks across Nigeria have announced that all Form A and Forex requests must include a valid copy of the applicant’s Tax Clearance Certificate (TCC) alongside other required documents on the Central Bank of Nigeria (CBN)...

Banks’ Borrowings From CBN Rise By 464% To N4.95trn   Banks’ borrowings from the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) rose year-on-year (YoY) by 464 percent to N4.95 trillion in the first quarter of 2023 (Q1’23) from N877 billion in the corresponding period...

Old, New Naira Notes Remain Legal Tender – Tinubu President Bola Ahmed Tinubu has declared that his administration would treat both new and old naira notes as legal tender. Mr Tinubu made the declaration during his inaugural address after taking the oaths of office and allegiance...