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Report Confirms How Nigeria’s FX Reserves Hit $34.7bn

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Nigeria’s foreign exchange reserves have reached a high of $34.7bn, according to data obtained from the Central Bank of Nigeria’s website on Sunday. This represents...

CBN’s Data Says Nigeria’s FX Reserves Have Hit $34.14bn

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Nigeria’s reserves have continued an upward trajectory, hitting $34.14bn on Friday, having appreciated by 4.06 per cent from $32.74bn on June 3, 2024, data...

Bank Recapitalization: CBN Insists On Enforcement Of Stringent Criteria

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The Central Bank of Nigeria (CBN) has informed it will enforce stringent criteria for its ongoing bank recapitalization programme. It said the strict criteria will...

Breach Of BOFIA 2020: Heritage Bank’s License Revoked By CBN

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The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect. This decision, it said, was to maintain a...

Amendment Of CBN Act Suspended By National Assembly

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The National Assembly Committee on Banking, Insurance and other Financial Institutions has decided to pause the amendment process for the bill titled “An Act...

Restructuring Move: CBN Retrenches Over 200 Staff Members

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The Central Bank of Nigeria (CBN) has retrenched nearly 200 employees across various departments in a bank-wide restructuring exercise. The latest round of job cuts...

Why We Updated Bureau De Change Operators’s Rules -CBN

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The Central Bank of Nigeria (CBN) has announced new requirements for Bureau de Change (BDC) operators. These changes, it said, aim to improve the way...

Tinubu To CBN: Suspend Implementation Of Cybersecurity Levy

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President Bola Tinubu has asked the Central Bank of Nigeria to suspend the implementation of the controversial cybersecurity levy policy and ordered a review. Tinubu's...

Banks’ Recapitalization: CBN Secures Backing From IMF

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The International Monetary Fund (IMF) has given its nod to the ongoing Central Bank of Nigeria (CBN)-led bank recapitalization plan. The IMF’s approval for the...

Declining Economic Activities In Nigeria Bothers CBN

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The Central Bank of Nigeria has expressed concern over the declining economic activities in the country. The CBN deputy governor of Corporate Services, Bala Bello,...
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