The Central Bank of Nigeria (CBN) has refuted claims of enforcing mass retirements, clarifying that its newly introduced Early Exit Package (EEP) is entirely voluntary and without negative implications for eligible employees. In a statement issued on Wednesday, the Acting…
CBN’s renewed focus on diaspora remittances: Ki ni big deal? – Toni Kan
My friend, Paul, is Jamaican. He has a strong Jamaican twang that sometimes leaves me wondering what he is saying. Paul and I met at our local pub in London and bonded over our mutual love for crossword puzzles. When…
Rivers: Courts taking Nigeria back to dark days of June 12 – Atiku
As reactions continue to trill the judgement of a Federal High Court in Abuja on the Rivers State fund, former Vice President Atiku Abubakar has cautioned the judiciary against acts capable of setting the state on fire. Atiku, while expressing…
Abuja Court stops CBN from releasing monthly allocations to Rivers govt
The Federal High Court sitting in Abuja, the Federal Capital Territory (FCT), has stopped the Central Bank of Nigeria (CBN) from further releasing monthly financial allocations to the government of Rivers State. The court, presided over by Justice Joyce Abdulmalik,…
CBN introduces electronic FX matching system to curb speculation
The Central Bank of Nigeria (CBN) has announced the introduction of an electronic foreign exchange matching system (EFEMS).In a circular on Thursday, Omolara Duke, CBN director, financial markets department, said the system, which is for FX transactions, would be implemented…
Zenith Bank set to raise N290b capital via Rights Issue and Public Offer
Zenith Bank Plc has unveiled plans to raise N290 billion through a combined Rights Issue and Public Offer. The announcement came during a signing ceremony held on July 29, 2024, at The Civic Centre in Lagos, according to a statement.…
Breaking: EFCC re-arraigns Emefiele, ex-CBN gov pleads not guilty
A former Governor of the Central Bank of Nigeria, Godwin Emefiele, was on Friday arraigned at the Federal High Court, Maitama, Abuja on 20-count bordering on alleged corrupt practices and forgery. Dressed in an ash coloured pair of trousers and…
Naira closes N756/$ as trading rises at investor’s window
The naira appreciated by 1.79 per cent against the United States dollar on the Investor & Exporter forex window on Tuesday, closing at N756.61/$. On Monday, local currency slumped to 770.38/$ at the close of trading on the I&E window…
How USSD and mobile money transactions are deepening Nigeria’s financial system – Toni Kan
Ask the average Nigerian how often he makes Unstructured Supplementary Service Data transactions and he or she will mostly likely tell you that they don’t. But mention USSD transactions and their faces will light up with recognition. USSD is shorthand…
Flutterwave bags switching, processing license, enables eNaira for businesses
Flutterwave, Africa’s leading payments technology company, yesterday announced that it has been granted a Switching and Processing License by the Central Bank of Nigeria, CBN. The license is widely regarded as CBN’s most valuable payments processing license. With this license,…