By Babajide Komolafe The Central Bank of Nigeria (CBN) yesterday said its decision to ban the use of cryptocurrencies in the country is to protect Nigerians and the nation’s financial system from the illegal nature of such currencies and the inherent risks associated with them. Recall that on Friday, the CBN ordered banks to close […]

Experts in the financial sector of the economy have rolled out implications of the Central Bank of Nigeria’s, CBN directives on cryptocurrency.

Archbishop Samzuga has reacted to the Central Bank of Nigeria’s (CBN) new order on Cryptocurrency. The Apex bank had directed Deposit Money Banks (DMBs) and other financial institutions to close accounts of persons who are using their systems for cryptocurrency trading. Reacting to the shocking news, Archbishop Samzuga, the CEO of one of Africa’s fastest […]

The Central Bank of Nigeria (CBN) has warned commercial banks and other financial institutions to desist from dealing in crypto currencies as it is illegal. The apex bank stated this on Friday in a statement on its official website by Mr Bello Hassan, Director of Banking Supervision and Mr Musa Jimoh, Director of Payments System […]

Central Bank Governor, Mr Godwin Emefiele, said on Friday in Asaba, that the bank was partnering government at all levels and the private sector to provide sophisticated health facilities in the country to address healthcare needs of the people. He said that such intervention had become necessary in view of the widening gap in the […]

By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has directed Deposit Money Banks (DMBs), Other Financial Institutions (OFIs) and Non-Bank Financial Institutions (NBFIs) local financial institutions against having any transactions in crypto or facilitating payments for crypto exchanges. The  apex bank disclosed this today in a letter to all DMBs, OFIs and NBFIs. The […]

By Joseph Erunke ABUJA–Ethnic youth leaders in the country have hailed the Central Bank of Nigeria, CBN, over budget  financing support to government even as they described Fitch Report as not only baseless but also a distorted one without facts, noting that it was a call for economic instability Speaking under the aegis of Nigeria […]

…Worries over rising public debt By Babajide Komolafe The Central  Bank of Nigeria, CBN, yesterday warned the Federal Government (FG) against imposing another total lockdown of the country, saying such a move would be catastrophic to   Nigerians and the economy. Meanwhile, the apex bank has retained the Monetary Policy Rate (MPR) at 11.5 per cent, […]

The Central Bank of Nigeria (CBN) and NIRSAL Microfinance Bank have engaged Young Entrepreneurs of Nigeria (YEN), the umbrella body for Nigerian young entrepreneurs, as their entrepreneurship development partner. The engagement is specifically in the areas of entrepreneurship development and entrepreneurial training in Nigeria for entrepreneurs and micro, small and medium enterprises (MSMEs) seeking access […]

…As FG halts its privatization …Begins repositioning process By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) and is to invest a fresh N50 billion in the Nigerian Commodity Exchange (NCX), Abuja. The Governor of the CBN, Mr. Godwin Emefiele, disclosed this , Thursday at the Inaugural Meeting of the Steering Committee, […]

The Central Bank of Nigeria (CBN) and the Nigeria Sovereign Investment Authority (NSIA) are to invest a fresh N50 billion in the Nigerian Commodity Exchange (NCX), Abuja. The Governor of the CBN, Mr. Godwin Emefiele, disclosed this , this afternoon, at the Inaugural Meeting of the Steering Committee, set up to reposition the exchange. He […]

The Central Bank of Nigeria (CBN) and the Nigeria Sovereign Investment Authority (NSIA) are to invest a fresh N50 billion in the Nigerian Commodity Exchange (NCX), Abuja. The Governor of the CBN, Mr Godwin Emefiele, disclosed this at the Inaugural Meeting of the Steering Committee, set up to reposition the exchange. ALSO READ: Over 124million Nigerians are […]

The CBN  says Nigeria’s Foreign Exchange Reserves rose from 34.94billion dollars in November 2020 to 36.23billion dollars as at Jan 21, 2021.

The Central Bank of Nigeria, CBN, and NIRSAL Microfinance Bank have engaged Young Entrepreneurs of Nigeria, YEN, the umbrella body for Nigerian young entrepreneurs as their entrepreneurship development partner.

The Central Bank of Nigeria (CBN) on Tuesday held its 277th Monetary Policy Committee (MPC) meeting, the first in 2021, where members voted unanimously to retain the Monetary Policy Rate (MPR) at 11.5 per cent. Mr Godwin Emefiele, Governor of the CBN disclosed this while reading the communiqué from the meeting. Emefiele said the MPC also agreed […]