Tag: Naira Business

CBN Approves $20,000 For Each BDC Operator
July 19, 2024 No Responses

CBN Approves $20,000 For Each BDC Operator

The Central Bank of Nigeria (CBN) has approved the sale of foreign exchange (FX) to eligible Bureau de Change (BDC) operators at 1,450 naira to a dollar. The apex bank said the sum of $20,000 is to be sold to...
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CBN Issues Approved Guidelines For BDCs
May 23, 2024 No Responses

CBN Issues Approved Guidelines For BDCs

The Central Bank of Nigeria (CBN) has issued its approved guidelines to regulate the activities of Bureau de Change (BDC) operators in the country. In its new circular released on Wednesday, the minimum capital base for Tier-1 BDCs is N2bn...
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Cardoso: Naira Best Performing Currency Globally
April 21, 2024 No Responses

Cardoso: Naira Best Performing Currency Globally

Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, on Saturday said the apex bank’s FOREX reforms have made the naira the best-performing currency globally.  Cardoso, who at a briefing on the sidelines of the just-ended World Bank/IMF Spr...
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Cardoso: CBN Not Using Foreign Reserve To Defend Naira
April 18, 2024 No Responses

Cardoso: CBN Not Using Foreign Reserve To Defend Naira

THE Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, on Wednesday said the apex bank is not defending the Naira with the nation’s foreign reserves. He was speaking against the backdrop of the recent decline in Nigeria’s foreign reserves....
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CBN Sells FX To BDCs At N1,251/$1
March 26, 2024 No Responses

CBN Sells FX To BDCs At N1,251/$1

As the naira gradually appreciates against the dollar after months of unprecedented uncertainties, the Central Bank of Nigeria (CBN), on Monday, announced the sales of $10,000 to each of the eligible Bureau De Change (BDC) operators in the country at...
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NGX RegCo, Financial Reporting Council, Unveil Report On Adoption Of Sustainability Reporting Standard
March 24, 2024 No Responses

NGX RegCo, Financial Reporting Council, Unveil Report On Adoption Of Sustainability Reporting Standard

The regulating body of the Nigerian Exchange Group, the NGX Regulation Ltd. (NGX RegCo) and Financial Reporting Council of Nigeria (FRCN), at the weekend launched roadmap for the adoption of the Sustainability Financial Reporting Standard in Nigeria. The lunch...
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Market Capitalisation Drops By N51billion
February 27, 2024 No Responses

Market Capitalisation Drops By N51billion

The market capitalisation of the Nigerian Exchange Ltd. (NGX) Monday dropped by N51 billion. Specifically, the market capitalisation opened at N55.861 trillion to close at N55.810 trillion, representing 0.09 per cent decrease.The All-Share Index also dropped b...
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Cardoso To Nigerians: Moderate Demand For Forex
February 10, 2024 No Responses

Cardoso To Nigerians: Moderate Demand For Forex

The Governor, Central Bank of Nigeria, (CBN), Olayemi Cardoso has implored Nigerians to cut down on their demand for forex. “We must moderate our demands for forex. Where there are opportunities to substitute locally, so we should.” the CBN governor...
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CBN Gov Pledges To Tackle Unauthorised Withdrawals
February 7, 2024 No Responses

CBN Gov Pledges To Tackle Unauthorised Withdrawals

The Central Bank of Nigeria (CBN) has pledged to deal decisively with any bank found sabotaging monetary policies or guilty of unauthorised withdrawals from customer accounts. The Governor of the apex bank, Mr Olayemi Cardoso made the pledge on Tuesday...
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Senate Reiterates Commitment To Capital Market-Driven Reforms
February 7, 2024 No Responses

Senate Reiterates Commitment To Capital Market-Driven Reforms

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Dangote Cement Hits N10tri Market Capitalisation, Otedola Explains Interest
January 23, 2024 No Responses

Dangote Cement Hits N10tri Market Capitalisation, Otedola Explains Interest

Foremost cement manufacturing firm, Dangote Cement Plc hit a milestone as a N10 trillion company on Monday at the Nigerian Exchange, the first company to attain such a valuation.  Meanwhile, Business Man,  Mr. Femi Otedola also on Monday confirm...
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CBN To Hold First MPC Meeting Under Cardoso
January 20, 2024 No Responses

CBN To Hold First MPC Meeting Under Cardoso

The Central Bank of Nigeria (CBN) is to hold its first Monetary Policy Committee meeting under the tenure of Mr. Olayemi Cardoso as Governor on Monday, February 26 and Tuesday, February 27, 2024. The announcement follows a two-day strategic session...
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CBN Lifts Restriction On 43 Items
October 13, 2023 No Responses

CBN Lifts Restriction On 43 Items

The Central Bank of Nigeria (CBN) has restated its commitment to boost liquidity in the Foreign Exchange (FX) market. CBN’s Director, Corporate Communications, Dr Isa AbdulMumin, made this known on Thursday in Marrakech. AbdulMumin also announced that Import...
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Cardoso Assumes Duty As CBN Governor
September 23, 2023 No Responses

Cardoso Assumes Duty As CBN Governor

Acting Central Bank of NIgeria (CBN) Governor Dr. Olayemi Cardoso, on Friday, September 22, 2023, formally assumed duty, in an acting capacity, as the Governor of the apex bank, pending his confirmation by the Senate. CBN in a statement, on...
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