CBN Tightens Oversight on Fintechs with New Ultimate Beneficial Ownership Directive
The Central Bank of Nigeria (CBN) has introduced a significant regulatory requirement for fintech companies and other financial institutions, mandating ...
Tag: CBN
Naira Weakens to N1,361.5/$ as FX Market Turnover Drops Sharply
The Naira came under mild pressure in the official foreign exchange market on Wednesday, closing at N1,361.5 per US dollar, ...
Nigeria’s Current Account Surplus Jumps 256% to $4.98 Billion in Q1 2026
Nigeria posted a significantly stronger external position in the first quarter of 2026, with the current account recording a surplus ...
Naira Depreciates by N5.08 Week-on-Week as Dollar Liquidity Tightens
The Nigerian naira came under pressure across foreign exchange market segments last week, losing ground despite a steady rise in ...
Wema Bank Temporarily Suspends X (Twitter) Activities Over Surge in Fake Accounts
Wema Bank has temporarily suspended all communications on its official X (formerly Twitter) platform due to a sharp increase in ...
House of Representatives Recovers N521.77 Million Unremitted VAT from CBN
The Public Accounts Committee of the House of Representatives has recovered N521.77 million in unremitted Value Added Tax (VAT) from ...
Naira Records Modest Decline at Official Market, Remains Stable in Parallel Market
The Nigerian naira weakened slightly against the US dollar in the official foreign exchange market on Thursday, dropping by N1.49 ...
CBN Raises FX Remittance Limit for Nigerian Students Abroad to $25,000 per Semester
The Central Bank of Nigeria (CBN) has significantly increased the amount of foreign exchange Nigerian students can remit for tuition ...
CBN Releases New Foreign Exchange Manual, Grants Easier Access to Domiciliary Accounts
The Central Bank of Nigeria (CBN) has introduced major reforms to its foreign exchange regulations with the launch of the ...
CBN Aims to Bring N2.83 Trillion Cash Back into Banking System by 2028
The Central Bank of Nigeria (CBN) has announced plans to significantly reduce the amount of cash circulating outside the formal ...
