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First Bank Provides Secure Money Transfer Services To Customers

First Bank Provides Secure Money Transfer Services To Customers

Customers can now share love with family and friends using FirstBank’s international money transfer services nationwide. As the most valuable banking brand in Nigeria, First Bank of Nigeria Limited has been on a journey of strength and dynamism committed to providing the best financial solutions to promote convenience and support the lifestyles of its customers. […]

CBN To Open Special Window For Dividend Remittances

CBN To Open Special Window For Dividend Remittances

Indication emerged yesterday that the Nigeria’s Central Bank (CBN) may open special window for dividend remittances in an effort to ease pressure in the foreign exchange market. Some authoritative sources at the CBN have also said that in an attempt to boost forex supply, the CBN will soon not only begin spot forex auction sales, […]

Forex: CBN Should Stop Controlling Exchange Rates – Akande

Forex: CBN Should Stop Controlling Exchange Rates – Akande

The Central Bank of Nigeria has been advised to allow the forces of demand and supply to determine the naira exchange rates against foreign currencies. The Director, Africa Region Board, PKF Professional Services, Mr. Tajudeen Akande, who gave the advice in an interview with our correspondent, stressed the need to address the multiple exchange rates […]

CBN Sells $100m To SMEs

CBN Sells $100m To SMEs

The Central Bank of Nigeria on Tuesday said it sold $100 million in spot sales to small and medium-size enterprises (SMEs) as part of a move to inject liquidity into the official market. The bank on Monday said it was offering SMEs up to $20,000 per quarter in an effort to prop up businesses whose […]

FG Seeks Over $3 Billion From World Bank, AFDB, Bonds

FG Seeks Over $3 Billion From World Bank, AFDB, Bonds

The Federal Government is talking to the World Bank and African Development Bank for $3 billion of loans before the West African nation determines how much it will raise from Eurobonds to help fund this year’s budget. “From the World Bank, we are hoping to get $2 billion,” Minister of State for Budget and National Planning Zainab Ahmed said in […]

Transporters Condemn CBN’s New Charges On Cash Deposit, Calls For Review

Transporters Condemn CBN’s New Charges On Cash Deposit, Calls For Review

Dr Samuel Maduka Onyishi, Chairman of Peace Mass Transit Limited, has said that the road transporters are choking under the Central Bank of Nigeria (CBN) new cashless policy regime that attracts percentage charges for cash deposits above N3 million, and called on the federal government to review it. Addressing Journalists in Enugu to showcase the […]

Bureau De Change Operators Seek N10/$ Margin To Check Sharp Practices

Bureau De Change Operators Seek N10/$ Margin To Check Sharp Practices

The Association of Bureau De Change Operators of Nigeria (ABCON) has asked for a N10 margin per dollar from the Central Bank of Nigeria (CBN); it could check operators’ tendency for round tripping. ABCON said. The group resolved to self-regulate to expose erring members, even as they have already set up investigative panel for pending cases. […]

CBN Shortens FX Settlement Period As Naira Falls

CBN Shortens FX Settlement Period As Naira Falls

The Central Bank of Nigeria is planning to sell shorter-dated dollar forwards to inject liquidity into the official market and try to support the naira, traders said on Monday. The local currency has weakened on both the official and black markets. The naira fell to 328.50 on the official market on Monday but later gained […]

CBN Offers Smes $20,000 In Fx Per Quarter

CBN Offers Smes $20,000 In Fx Per Quarter

The Central Bank of Nigeria is offering small and medium-size enterprises (SMEs) up to $20,000 per quarter, in an effort to prop up businesses whose access to foreign currencies has been overshadowed by larger companies, it said on Monday. Nigeria is battling a currency crisis brought on by low oil prices, which has tipped its […]

CBN Releases Another $100m As Naira Rises To 397/dollar

The Central Bank of Nigeria, CBN, on Thursday offered $100m in currency forwards, to be settled within 60 days, currency traders said, quoting a notice from the CBN. The central bank has been selling dollars to try to narrow the spread between the naira’s official and black market exchange rates. This came just as the […]

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