CBN escrow of DISCOs’ bank accounts saved sector from collapse — Experts
ENERGY experts have claimed that the decision by the Central Bank of Nigeria, CBN, to escrow the bank accounts of electricity distribution companies in August, 2020, saved the power sector from collapse.
CBN directs banks to apply I & E rates for PAPSS transactions
The Central Bank of Nigeria, CBN, has directed banks to apply the indicative exchange rates in the Investors and Exporters (I&E) window for outbound payments through the Pan African Payments and Settlement System, PAPSS.
Experts caution CBN ahead of October 1 launch of eNaira
Some Financial Experts have urged the Central Bank of Nigeria (CBN) to take cognizance of the impact its proposed digital currency (eNaira) might have on the country’s financial sector. The experts spoke in separate interviews with the News Agency of Nigeria (NAN) on Tuesday in Abuja, against the backdrop of CBN’s proposed launch of eNaira […]
BREAKING: CBN to establish Nigerian International Financial Centre
The Central Bank of Nigeria, CBN, plans to establish the Nigerian International Financial Centre, NIFC, in the next 12 months.
CBN says no plan to convert domiciliary accounts to Naira over forex
The Central Bank of Nigeria, CBN, has said it had no plans to convert foreign currencies in the domiciliary accounts of bank customers to Naira.
CBN reiterates penalty for banks’ indulgence in FX malpractices
The Central Bank of Nigeria, CBN, has reiterated that the FX operating license of any bank or banks that are found guilty of ongoing investigations in foreign exchange malpractices would be suspended for at least a year.
