The Central Bank of Nigeria (CBN) says it has approved the participation of licensed Bureau De Change (BDC) operators in the Nigerian Foreign Exchange Market (NFEM). According to a circular signed by the Director, Trade and Exchange Department, Dr Musa Nakorji,, the move is part of efforts to improveContinue Reading
CBN upgrades Opay, Moniepoint, Palmpay, others to national licenses Tue, THE Central Bank of Nigeria (CBN) has upgraded the licenses of major FinTech companies and Microfinance Banks, including Opay and Moniepoint, to national status, allowing them to operate across the country following compliance with regulatory requirements. The upgradeContinue Reading
The Federal High Court in Abuja on Monday, declined to grant an application seeking to stop the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Cooperation (NDIC) from taking further actions over the recent revocation of licences of two mortgage financial institutions. The two institutions are Aso SavingsContinue Reading
THE Central Bank of Nigeria (CBN) has granted final licenses to 82 Bureaux De Change (BDCs) to operate with effect from Nov. 27. A statement issued in Abuja on Monday by Mrs Hakama Sidi-Ali, CBN’s Acting Director, Corporate Communications Department, stated that the exercise was in line with itsContinue Reading
The Federal High Court in Abuja has fixed June 23 for hearing of the contempt proceeding against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, over alleged disobedience to a Supreme Court judgment. Justice M.G Umar fixed the date after Chikaosolu Ojukwu, SAN, who appeared for the applicant,Continue Reading
The Federal High Court in Abuja, on Wednesday, dismissed a 990 trillion pounds suit filed by a claimant, Mr Tunde Omosebi, against the Central Bank of Nigeria (CBN) for being incomprehensible. Justice James Omotosho, in a judgment, also held that the suit filed by Omosebi to seek redress overContinue Reading
The Central Bank of Nigeria (CBN) has approved the request by pilgrims to be granted cash transactions for the holy pilgrimage to Mecca to ease the financial processes for the pilgrims. This followed the intervention of Vice President Kashim Shettima, who appealed to President Bola Ahmed Tinubu on behalfContinue Reading
