CBN Disallows Foreign Currency as Collateral for Naira Loans The Central Bank of Nigeria (CBN) has directed all banks to stop the use of foreign currency-denominated collaterals for naira loans. Adetona Adedeji, acting director of the banking supervision department at CBN, disclosed this in a statement...

Foreign Currency Inflows Dropped To $1.83bn In 2020   The Central Bank of Nigeria (CBN) has disclosed that it recorded a significant reduction in the volume and cost of foreign exchange procurement in 2020, the year of COVID, when the entire world was on lockdown and...

CBN Issues New Directives On Foreign Currency Payment Of Diaspora Remittance         The Central Bank of Nigeria CBN) has issued fresh directives to International Money Transfer Operators (IMTOs) on foreign currency payment in cash to beneficiaries of diaspora remittances. The fresh directives follow the new rules unveiled...