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Report: Forex Traders Say Cbn Is Defending Naira

Report: Forex Traders Say Cbn Is Defending Naira

A month after devaluing the naira, the Central Bank of Nigeria (CBN) is intervening in the markets to prevent sharper losses in the local currency, Bloomberg reported traders as saying yesterday. The naira fluctuated on…

Naira Appreciates To N782.49/$1 At I&E Window

Naira Appreciates To N782.49/$1 At I&E Window

The naira strengthened against the dollar yesterday, closing at N782.49/$1 at the Investors and Exporters’ (I&E) window compared with N788.42 per dollar on Tuesday, data obtained from FMDQ Exchange shows. Traders said insufficient supply of…

Guideline Review Returns Umeoji As Zenith Bank’s DMD

Guideline Review Returns Umeoji As Zenith Bank’s DMD

There are indications that the Central Bank of Nigeria (CBN) may have reviewed its guidelines on the regulatory requirements for the tenure of Executive Management and Non- executive Directors (NEDs) of deposit money banks (DMB)…

‘Direct Remittances To Nigeria Dropped To $952m In H1’23’

‘Direct Remittances To Nigeria Dropped To $952m In H1’23’

Direct remittance flows to the country amounted to $952 million in the first six months of the year, the Central Bank of Ni- geria (CBN) has said. According to the apex bank’s latest data on…

FG Redeems $500m Eurobond  Obligations To Investors

FG Redeems $500m Eurobond Obligations To Investors

International investors, who traded in Nigeria’s debt instrument, Eurobond, recouped their investment yeild yesterday with Nigeria redeem- ing $500 million due on July 12, 2023. The latest $500 million debt obligation honour brings total amount…

Atanda: Industry Collaboration Key  To Nigeria’s Cashless Economy

Atanda: Industry Collaboration Key To Nigeria’s Cashless Economy

Deremi Atanda, Managing Direc – tor of Remita Payment Services Limited (RPSL), a subsidiary of SystemSpecs Holdings Limited (SHL), has called for deeper industry collaboration to foster the adoption of digital payments in Nigeria. He…

Nine Uk Banks  Seal Deal To Use  Ai Tool To Tackle  Scams

Nine Uk Banks Seal Deal To Use Ai Tool To Tackle Scams

Nine of the UK’s biggest banks, including Lloyds Banking Group, Natwest Group and Bank of Scotland, have signed up to use the Consumer Fraud Risk system, Mastercard told Bloomberg News. Trained on years of transaction…

Fitch: Reduced Exchange Rate Volatility Critical  To Ecobank’s Ratings Upgrade

Fitch: Reduced Exchange Rate Volatility Critical To Ecobank’s Ratings Upgrade

Fitch Ratings has said it foresees an upgrade of Ecobank Nigeria’s National Ratings which would result from strengthening its creditworthiness relative to other Nigerian issuers. According to the international rating agency, it expects to resolve…

Naira Depreciates To N762.63/$1  At I&E Window

Naira Depreciates To N762.63/$1 At I&E Window

The naira weakened against the dollar yesterday, closing at N762.63/$1 at the Investors and Exporters’ (I&E) window, compared with N742.31/$1 on Wednesday, data obtained from FMDQ Exchange shows. Traders believe that the naira volatility triggered…

Cbn Alerts Banks To  Additions To Fatf’s List

Cbn Alerts Banks To Additions To Fatf’s List

The Central Bank of Nigeria (CBN) has drawn the attention of deposit money banks (DMBs) and other financial institutions in the country to the addition of Cameroon, Croatia and Vietnam to the Financial Action Task…