The Central Bank of Nigeria (CBN) made a new decision to remove its ban on digital assets and cryptocurrencies. This has been perceived to attract big changes in the country’s financial world. I am a digital transformation consultant studying things like Bitcoin and other digital money. Let’s try to look at how this recent decision … Read more
As part of its efforts over the last three months to redeem outstanding forward liabilities to foreign airlines, the Central Bank of Nigeria (CBN) has disbursed about $61.64 million to the airlines through various banks. Acting Director, Corporate Communications Department of the bank, Hakama Sidi Ali, on Sunday, said the forex settlement brings to $2 … Read more
Nigeria’s naira ranked third among the world’s worst performing currencies this year, a Bloomberg report said. Of the 151 currencies tracked by Bloomberg this year, naira was the world’s worst performer after the Lebanese pound and the Argentine peso, after closing at N1,043 per $1 on Thursday — about 72 hours to the end of … Read more
The Senate on Saturday approved the securitisation of the outstanding debit balance of N7.3 trillion of the Ways and Means Advance in the Consolidated Revenue Fund (CRF) of the Federal Government. The Senate President, Godswill Akpabio, announced the approval after majority of the lawmakers supported it through a voice vote during the plenary. Ways and … Read more
A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has described Godwin Emefiele as “the worst CBN Governor” in the nation’s history. In a series of tweets on Saturday, Mr Moghalu provided an assessment of Mr Emefiele’s tenure, shedding light on various critical areas of concern. He cited Mr Emefiele’s failures in … Read more
Some bank customers in the Federal Capital Territory (FCT) have appealed to the Central Bank of Nigeria (CBN) to urgently address cash crunch issues to ensure swell celebrations during the yuletide. Some of the customers, who are also small business owners, told the News Agency of Nigeria (NAN) in Abuja on Monday that the development … Read more
The CBN on Friday warned against the proliferation of counterfeit banknotes, particularly in higher denominations. The bank said it observed that the fake notes are being circulated during transactions in food markets and various commercial centers across major cities nationwide. Referencing Section 20(4) of the CBN Act (2007) as amended, the bank emphasised that the … Read more
