By Chidi Nkwopara The Central Bank of Nigeria, CBN, received over 13,000 complaints from the banking public, recovered over N60 billion excess charges and returned same to the rightful owners. The CBN Deputy Director, Consumer Protection Department, Mrs. Chinyere Obilor, disclosed this at a sensitization forum organized in Owerri, by the Apex Bank. “The Department […]

…says it cost a fortune to mint Naira notes By Festus Ahon CENTRAL Bank of Nigeria, CBN, said its cashless policy was to cut down the volume of cash in circulation and to place Nigeria on the scoreboard of global best practices, disclosing that the policy has been put to test in five states in […]

The Manufacturers Association of Nigeria (MAN) has linked the low utilization of local raw materials in the manufacturing sector to policy intervention in the official foreign exchange (forex) market by Central Bank of Nigeria (CBN).

In a bid to reduce demand pressure in the foreign exchange market, and enhance dollar inflow into the economy, the Central Bank of Nigeria (CBN) yesterday introduced the longest Naira-settled Forwards contract. 

The Central Bank of Nigeria (CBN) says receiving international money transfers in foreign currencies by Nigerians is detrimental to the Naira. Ms Ozemena Nnaji, Director, Trade and Exchange in the apex bank, told the House of Representatives Committees on Diaspora, Banking and Currency, and National Planning at an investigative hearing on Thursday in Abuja. The […]