Banking

Open Market Operations: CBN delists individuals and local corporates

Open Market Operations: CBN delists individuals and local corporates Open Market Operations (OMO) – The Central Bank of Nigeria (CBN) has directed that individuals and local corporates (inclusive of non bank financial institutions) have been excluded from investing in OMO… Continue Reading…

Account debit

Banking

Banks refund N23bn, $2.3m to customers as excess charges

Banks refund N23bn, $2.3m to customers as excess charges Banks refund N23bn, $2.3m to customers – Banks refunded N23 billion  to their customers in eleven months to November 2018, at the backdrop of about 2.75 million complaints against illegal and unauthorised… Continue Reading…

CBN intervention fund

Banking

CBN offers MFB license to AMAC

CBN offers MFB license to AMAC The Abuja Municipal Area Council (AMAC) has received license from the Central Bank if Nigeria (CBN) to operate as a Microfinance Bank (MFB) AMAC will afford Small Scale businesses affordable loans without collateral with… Continue Reading…

Fertilizer

BuisnessEconomy

Fertilizer joins forbidden items not valid for forex

Fertilizer joins forbidden items not valid for forex The Central Bank of Nigeria has announced the inclusion of fertilizer in the list of 41 items not valid for forex. By this decision it therefore means that foreign exchange can no… Continue Reading…

CBN intervention fund

Banking

Nigeria’s external reserves hit $43 billion 

Nigeria’s external reserves hit $43 billion  Nigeria’s external reserves – The Central Bank of Nigeria (CBN), at the weekend, said Nigeria’s external reserves have recovered significantly from $23 billion in October 2016 to over $43 billion as of December 3, 2018.… Continue Reading…

Central Bank of Nigeria

Importation

Central Bank of Nigeria (CBN) seek to empower youths with this program grab the opportunity

Central Bank of Nigeria (CBN) seek to empower youths with this program grab the opportunity Do you have a business idea you wish to develop or you are already into one and desire mentorship/business plan development/more sources of funding/expansion? Then… Continue Reading…

Foreign exchange market

Banking

Nigeria foreign exchange market: How to buy FX across the counter for PTA/BTA-Financengr

Nigeria foreign exchange market: How to buy FX across the counter for PTA/BTA-Financengr. The Central Bank of Nigeria (CBN) has approved the sale and purchase of foreign exchange across the counter in banks and other licensed financial institutions. Further to… Continue Reading…

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