Posted inEconomy
Bank Increase ATM Withdrawal Limit.
Weeks after banks restricted withdrawals on automated teller machines (ATMs), commercial banks in the country…
Posted inEconomy
CBN Sets N15,000 As Transaction Limit For Contactless Payments.
The Central Bank of Nigeria (CBN) has placed a N50,000 daily limit on contactless payments…
Posted inEconomy
A Total Of Five African Banks Adopt PAPSS For Cross-border Transactions.
The Pan-African Payment and Settlement System (PAPSS) has signed a memorandum of understanding (MOU) with…
Posted inEconomy
Central Bank of Nigeria To Restart Naira OTC FX Contracts.
From tomorrow, July 3, 2023, the Central Bank of Nigeria (CBN) will begin quote offers…
Posted inEconomy
CBN reportedly makes social media handle mandatory KYC requirements for bank customers.
The CBN has released its Customer Due Diligence Regulations 2023, the Central Bank of Nigeria…
Posted inEconomy
IMF Is Working On A Global Central Bank Digital Currency CBDC Platform.
The International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Monday that it is…
Posted inEconomy
Central Bank of Nigeria Lifts Cash Deposit Restrictions On Domiciliary Accounts, Approves Daily $10,000 Withdrawal.
The Central Bank of Nigeria has announced the removal of cash deposit limitations on domiciliary…
Posted inEconomy
Nigeria Inflation Rate Rises To 22.41%.
Nigeria’s inflation surged to 22.41 percent in the month of May, 2023, according to a…
Posted inEconomy General News
CBN Direct Banks To Trade Naira Freely Against Dollar, Harmonizing Bank And Black Market Prices To Over N700/ Dollar.
On Wednesday, The Central Bank of Nigeria directed Deposit Money Banks to remove the rate…
Posted inEconomy
President Tinubu Suspends Nigeria Central Bank Governor.
The Nigerian President, Bola Tinubu has ordered the immediate suspension of the Central Bank of…
Posted inEconomy
Nigeria Partners With Israel To Create 1 Million Jobs Through Digital Economy.
Israeli Ambassador to Nigeria, Michael Freeman has disclosed the readiness of his country to partner…
Central Bank of Nigeria Raises Interest Rate To 18.5 Percent.
The policy-setting committee of the Central Bank of Nigeria (CBN) on Wednesday raised the monetary…
Posted inEconomy
Nigeria Forex Inflow Declined By $72 Billion.
According to data obtained from the CBN’s economic report for the fourth quarter (Q4) of…
Nigeria Proposes Plans To Regulate Crypto and Other Digital Assets Platforms.
Nigeria, is preparing new industry regulations for digital asset platforms. The Nigerian Securities and Exchange…
Regulation Of Crypto Assets Crypto In South Africa Set To Take Effect In 2025.
Directives governing tokenized deposits and crypto assets are likely to become effective on Jan. 1,…
Nigeria Launches Tech Funds Totalling $618 Million For Youth Investors.
Nigeria's Vice President Yemi Osinbajo launched the $618 million fund under the Investment in Digital…
Kenyans Put An Average of Sh 2000 in cryptocurrencies
Retail crypto traders in Kenya held cryptocurrencies worth an average of Sh2,076 ($16.08) each last…
Posted inEconomy Fintech NAIRA RATE Regulations
Naira Scarcity : Nigerians Adopt Fintech Virtual Bank As Commercial Banks Apps, USSD Breakdown.
As the end of the Naira scarcity is nowhere in sight and following the breakdown…
Nigeria Crypto Traders Lost Huge Sums As Impact Of USDC’s $3.3 Billion Trapped In The Collapsed Silicon Valley Bank Depegs the Stablecoin.
Stablecoin cryptocurrency firm Circle has $3.3 billion of its $40 billion of USD Coin deposit…
Nigeria Crypto Arbitrage Trading Rises To 62% As Cash Crunch Worsens.
Crypto demand in Nigeria keeps rising due to its great economic instability, as well as…