Tag: Cbn
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Directors of banks support the Central Bank of Nigeria’s decision to sell surplus dollars
The Bank Directors Association of Nigeria expresses its support for the Central Bank of Nigeria's directive, urging commercial banks to cease "hoarding" foreign currencies.
In...
CBN implements a revised cash reserve approach
The Central Bank of Nigeria has announced the discontinuation of daily Cash Reserve Ratio debits, opting for an updated Cash Reserve Requirement mechanism.
This strategic...
CBN predicts that the growth of the service sector will be driven by digital lending
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has revealed that in 2024, mobile money and digital lending are expected to spearhead...
CBN instructs banks to divest surplus dollars within a 24-hour timeframe
In an effort to stabilize the nation's exchange rate, the Central Bank of Nigeria has directed Deposit Money Banks to sell their surplus dollar...
Disagreement between CBN and international airlines regarding a $700 million fund in limbo
The Central Bank of Nigeria and foreign airlines operating in the country are at odds regarding the total amount of unpaid ticket revenue.
The CBN...
