Nigeria
Nigeria: CBN Takes Measures to Halt Forex Speculation and Hoarding by Banks
In an effort to curb foreign exchange (forex) speculation and enhance risk mitigation, the Central Bank of Nigeria (CBN) has issued a new ...
Nigeria
Nigeria: CBN Introduces Fresh Measures to Mitigate Foreign Currency Risks
In a circular dated January 31, 2024, the Central Bank of Nigeria (CBN) expressed its apprehension about the increasing foreign currency exposures of ...
Nigeria
Nigeria: NIMC Boosts NIN Enrolment with Additional Equipment Nationwide
The National Identity Management Commission (NIMC) has taken steps to enhance National Identification Number (NIN) enrolment across the country by approving the deployment ...
Nigeria
Nigeria: CBN Directs Banks to Sell Excess Dollars by February 1 to Stabilize Exchange
The Central Bank of Nigeria (CBN) has issued a circular instructing Deposit Money Banks to divest their surplus dollar holdings by February 1, ...
Nigeria
Nigeria: CBN Successfully Clears Airlines’ Forex Backlog with Additional $64.44 Million Payment
The Central Bank of Nigeria (CBN) has fulfilled its commitment to address the backlog of foreign exchange owed to foreign airlines operating in ...
Nigeria
Nigeria: CBN Issues Warning Against Financial Market Manipulation by Banks
The Central Bank of Nigeria (CBN) has issued a stern warning to deposit money banks, cautioning them against engaging in financial market manipulation ...
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Nigeria: Federal Government Embarks on Extensive Digital Transformation Initiatives
Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, has reaffirmed the Federal Government’s commitment to digitize its processes, aiming to ...
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Nigeria: CBN Affirms Nigeria’s Economic Status in ‘Stabilisation Phase’
The Central Bank of Nigeria (CBN) has announced that Nigeria is currently in the “stabilisation phase” of its economic transformation journey, according to ...
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Nigeria: NIGCOMSAT, Under Egerton-Idehen’s Leadership, Aims to Revolutionize Tech Industry with Reliable Internet Services
Nkechi Egerton-Idehen, the Managing Director and Chief Executive Officer of the Nigerian Communications Satellite (NIGCOMSAT), highlighted the agency’s commitment to providing the nation ...
Nigeria
Nigeria: CBN Sets Ambitious 21.4% Inflation Target for 2024
In the face of persistent price volatility, the Central Bank of Nigeria (CBN) has outlined an ambitious goal, targeting a 21.4% inflation rate ...