Central Bank of Nigeria ,CBN, has justified the ban on cryptocurrencies, saying it fuels illicit financial flow and terrorism. Acting Director, Corporate Communications, CBN, Osita Nwanisobi, in a statement, said the ban on cryptocurrencies would not have any negative impact on Fintechs as there are other robust platforms they can thrive. He said because cryptocurrencies […]

Central Bank of Nigeria, CBN, has released the Framework for Regulatory Sandbox Operations that would promote seamless adoption of electronic payment across the country. The new framework will also ensure the safety and stability of the financial system, among other benefits as well as promote the use and adoption of e-payments and foster innovation in […]

Central Bank of Nigeria has approved the requirement of Chief Compliance Officers by deposit money banks. The bank gave its permission in a letter signed by its Director, Financial Policy and Regulation Department, Kevin Amugo. Amugo noted that those to be appointed as Chief Compliance Officers must be on a grade not below an Assistant […]

President Muhammadu Buhari has directed the Central Bank of Nigeria to blacklist any firm, its owner and top management caught smuggling or dumping any of the restricted forty three items into Nigeria. The Presidential directive was made known by the CBN Governor, Godwin Emefiele, today in Abuja during a meeting with oil palm producers. Emefiele […]

CBN The Central Bank of Nigeria, CBN yesterday released its Purchasing Managers Index survey for December which indicated continuous rapid expansion of economic activities during the month. The report showed that the Manufacturing PMI and Non-Manufacturing PMI rose to the highest level in more than three years. While the Manufacturing PMI rose to fifty nine […]

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