Following the naira’s depreciation, the Central Bank of Nigeria has raised the exchange rate for calculating import duty at Nigeria’s ports to N1,457.014 per dollar. The Customs Forex duty rate represents a three-percent hike in the rate of each dollar needed to clear
A former member of the House of Representatives, Aliyu Gebi, has shared insights on the recent directive from the Central Bank of Nigeria requiring banks to start deducting cybersecurity levy on transactions. The CBN had on Tuesday announced that a 0.5 per cent
CBN Building The Central Bank of Nigeria has released a comprehensive list of licensed Deposit Money Banks operating within the country. The list, which was made public on the CBN’s official website on Tuesday, provides insights into the banking landscape in Nigeria. Banks
The Senate has resolved to debit the accounts of commercial banks that guaranteed loans to beneficiaries of the Anchor Borrowers Programme of the Central Bank of Nigeria. The Senate vowed to carry out the process through the Central Bank of Nigeria. The Senate
The naira depreciated yesterday to N1,205 per dollar in the parallel market from N1,185 per dollar last Friday. However, the naira appreciated to N864.29 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM
Barely one year after his sack as the Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdulhameed, has been arrested, Daily Trust reports. NIRSAL, a $500m non-bank financial institution, is a creation of the Central Bank of
The naira sustained its slide against the United States dollar yesterday, as it weakened to an all-time low on the parallel market where it sold at N1100/$1 for weaker than the N1,060/$1 it traded the previous day. But the nation’s currency traded lower
The Central Bank of Nigeria on Thursday began the disbursement of old naira notes to Deposit Money Banks as government authorities stepped up efforts to end the biting currency scarcity that has inflicted pain on millions of bank customers nationwide. The central bank
Kaduna residents flooded commercial banks on Tuesday following the Central Bank of Nigeria’s directive that old N500, and N1,000 notes should remain valid legal tender until December 31. Many commercial banks’ gates were full before 8:00 am, with customers optimistic that their sufferings
On Monday, both the Presidency and the Central Bank of Nigeria, CBN, finally bowed to pressure to end the two months Naira crisis in the country. The apex bank, a few hours after the presidency absolved itself of blame, directed commercial banks to
A German Development Agency, Deutsche Gesellschaft für Internationale Zusammenarbeit (German for German Agency for International
Nigeria’s heartless President,Bola Ahmed Tinubu finally released all the 114 #EndBadGovernance protesters (minors and adults)
United States based Scientist and Business Woman, Princess Angela Obasi has joined other well meaning
A former member of the House of Representatives Farouk Lawan has regained freedom after serving