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 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...

Exports Suffer Setback As New CBN Policy Bites Hard       The new policy by the Central Bank of Nigeria (CBN) directing all exporters to present the Nigeria Export Proceed (NXP) number before exporting any good outside the country is currently causing a setback for international trade. Already,...

In Five Weeks, External Reserves Dip By $269.47m         The country’s foreign reserves fell by $269.47m in five weeks, the latest figures obtained from the Central Bank of Nigeria revealed on Monday. The reserves, which stood at $35.656bn as of November 4, fell to $34.925bn on December...

CBN To Fund One Million Hectare Rice Farming       Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said the CBN was targeting to fund farmers to cultivate at least one million hectares of farms in the 2020 dry season farming in the...