Epayment: CBN imposes cyber security levy on charges
THE Central Bank of Nigeria (CBN) has imposed a cyber security levy of 0.005 percent on service charge collected by payment service providers, PSPs, on electronic payment transactions.
External reserves fall by $177m in 2 weeks
THE appreciation recorded by the naira in the various segments of the foreign exchange market last week is expected to persist this week, even as the external reserves continued on a downward trend, falling by $177 million in two weeks, due to increased dollar sales by the Central Bank of Nigeria, CBN, in its effort to stem the depreciation of the naira.
Economic expansion persists but at slower pace — CBN
Central Bank of Nigeria, CBN, yesterday, released its Purchasing Managers Index (PMI) Report for May, 2018 which indicated that though economic expansion persisted for the fourteenth month in manufacturing and non-manufacturing sectors, the rate of expansion has slowed down.
Naira would remain at N360, until production, export improve — CBN
The Central Bank of Nigeria, CBN, has disclosed that the naira would continue to exchange at N360 to a dollar until production and export of goods increases significantly in the country.
CBN resisted pressure to float the Naira – Spokesman
Mr Isaac Okoroafor, the acting Director, Corporate Communications, Central Bank of Nigeria (CBN) says the apex bank resisted suggestions to float the Naira when the country was battling with economic recession.
CBN increases dollar supply to BDCs by 50%
In a bid to address the increased demand for dollars, which led to N2 depreciation of the naira in the parallel market last week, the Central Bank of Nigeria, CBN, yesterday, increased dollar sales to bureaux de change, BDCs, by 50 per cent, saying it was compulsory that each BDCs purchased $60,000 per week.
