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CBN Releases List of Licensed Deposit Money Banks
This week it was reported that four (4) deposit money banks in Nigeria had upgraded their banking licenses from regional to national, bringing the total number of banks nationwide to 44, following the...
Naira Goes Down Despite Measures Put In Place to Sustain It - Market Analysts
On Monday, it was reported that the foreign exchange market opened the new trading week with the naira trading against the dollar for N1,430 on the parallel market, also known as the black market.This...
CBN Orders Implementation of 0.5% Levy Fee on all Electronic Transactions
Yesterday, the Central Bank of Nigeria ordered the new implementation of a 0.5% levy on all electronic transactions as part of its effort to address the high rate of cybercrime in the financial system...
Naira Trade Against the Dollar at N1309 at the Official Market
On Thursday, the naira experienced a major decline against the US dollar, trading at N1,309/$ at the official market and N1,420 at the parallel market. This depreciation can be attributed to the high ...
CBN Sells Dollars to BDC in a Bid to Strengthen the Naira
The Central Bank of Nigeria (CBN) announced it has started selling $10,000 to Bureau De Change (BDC) operators, offering them direct access to US dollars at a discounted rate of N1,021 per dollar.This...