The Central Bank of Nigeria CBN has launched a reward program for all Nigerians in a bid to encourage foreign currency remittance in Nigeria, where Nigerians can get rewarded for up to N500,000 based on the inflow received.
The Central Bank of Nigeria CBN has taken out the N379/$1 official rate from its site, an improvement that proposes slow harmonization of trade rates and strategic degrading of the naira.The arrangement shift additionally affirmed the long-term theory that the Nigerian Autonomous Foreign Exchange Rate (NAFEX) likewise called the Investors' and Exporters' Forex Window is the default official rate.
Recall that Federal government of Nigeria through the Central Bank of Nigeria CBN and Bank of Industry BOI marked $200Millions and N90Billion to support Micro, Small and Medium Enterprises MSMEs in Nigeria aimed to drastically reduce unemployment rate in the country through extension of financial inclusion to grassroots to boost productivity and products certification. Federal government hereby through the Central Bank of Nigeria announces free soft loan designed at creating employability, fostering entrep
Farmer's by now put pressure on Central Bank of Nigeria CBN for loan repayment extension for the Anchor Borrowers Program (APB) because of crop production was collapse due to insecurity challenging we are facing in the Country. From then the call by the Central Bank of Nigeria CBN that the farmers who benefit from (APB) it's flagship agricultural intervention scheme because other farmers to benefit from it.
When you come across the News that the Central Bank of Nigeria CBN, under the Governorship of Godwin Emefiele, has obtained a court order to freeze the accounts of the promoters of the #EndSARS protest, you would think that the #ENDSARS was some terrorist organisation. We have to say that without consequence, this feels like a cold and at times open - war against its own citizens! It is despicable. According to a report this morning, "The federal high court sitting in Abuja has granted the CBN's request to freeze
Sanusi Lamido Sanusi who was the Governor of Central Bank of Nigeria-CBN spoke during a webinar tagged, ‘The sustainability of society’ revealed the real problem of Nigeria to be "Nepotism" which is often exercised by incompetent people in leadership and he maintained that Nigeria will continue to suffer if this condition is not given a necessary attention. Also, he said that people should always be considered on 'merit' and not by 'favour', that if merit is de-emphasized then Nigeria can not develop.“Morally
Videos And Pictures Of Purported Circulation Of N2,000:00 And N5,000:00 Banknotes Are False And Fake – CBN Nigeria’s apex bank, Central Bank of Nigeria CBN in the latest statement on Sunday has come out to debunk videos and pictures of purported circulation of the N2,000:00 and N5,000:00 banknotes. The CBN in its statement declared such reports are false and fake as it urges members of the public to report anyone in possession of such notes. It wrote in a tweet via its official handle, “Videos and pic
Freezing The Accounts Of EndSARS Sponsors Is A Betrayal Of Government Pledge To Dialogue--Shehu Sani
Few days ago, the Central Bank of Nigeria CBN got a court order to freeze the account of some 19 individuals who are suspected to be sponsoring the endSARS protest. The federal government believe that those sponsoring the protest are the major reason why the protest could last this long. Reacting to this development, the former senator who represented Kaduna in the 8th Assembly, Senator Shehu Sani condemned the action. The senator condemned the action of the federal government describing it as a betrayal of
Do you need fund and have business idea that will be employer of labour ? If yes congratulations for getting this information I am about to disclosed to your here. Federal government is disbursing fund to empowered the youth through the Central Bank of Nigeria CBN. The fund is free interests rate for 5year,meaning 10 million naira will be funded to your bank account and to be repaid back to central bank of Nigeria, thereafter, 5years without extra or hidden charges, its collateral free . Before getting the
The #EndSARS protest that rocked the Nigeria society as a result of the need to put an end to the brutality, extortion and extra-judicial killings done by members of the Nigeria Police Force, especially members of the notorious disbanded Special Anti Robbery Squad SARS, has led to the freezing of accounts of some youths believed to be the mastermind of the protests. The Central Bank Of Nigeria CBN, which had earlier issued a directive to all commercial banks that these suspected youths are banking with, to freeze
Earlier it was announced that the Central Bank Of Nigeria CBN, have sent directive to all commercial banks in the country to close down all accounts that is linked with cryptocurrency in the country. This has generated a lot of mixed reactions both within and outside the country. Angry citizens where pouring out their anger towards the Government for such a directive, Nigeria is rated second largest of the digital currency in the world, Especially Bitcoin. The Central Bank has opened up why they placed ban on
Following the fast growth of Bitcoin and the other cryptocurrencies, traditional money transfer service has become a past glory. Trading and other financial transactions with traditional money has become increasingly volatile globally, with Nigerians utilising crypto transaction to avoid the numerous challenges faced with a traditional money transfer services. The Central Bank of Nigeria CBN has ordered the banks and other financial institutions to close customer's account used in trading cryptocurrencies and
The Central Bank of Nigeria, CBN, has announced strict measures against banks over arbitrary bank charges. Recently, the CBN has been making various reforms to make the banking sector standard and ease the burden on Nigerians. The CBN said: "To guard against excess, unapproved or arbitrary charges by banks and other financial institutions, the Guide to Bank Charges stipulates a penalty of N2,000,000 per infraction or as may be determined by the CBN from time to time for financial institutions that breach
Base on the economical situations in Nigeria following the present ongoing effects of the COVID-19 pandemic. The Central Bank of Nigeria came with the plan of helping businesses that are managed by the citizens of the Nation. This is yet indeed another good news and business for Nigerians as the Central Bank of Nigeria CBN, as CBN plans on injecting 50 billion Naira fund for businesses in Nigeria to cushion the effects of the COVID-19 pandemics. The Central Bank of Nigeria CBN, has come up with a new plan of