Tag: CBN

Nigeria: Telecoms Companies kick against 0.005℅ Levy on Electronic Transactions
May 22, 2018 No Responses

Nigeria: Telecoms Companies kick against 0.005℅ Levy on Electronic Transactions

The Association of Telecommunications Companies of Nigeria (ATCON) on Tuesday expressed dissatisfaction at the recent directive by Central Bank of Nigeria (CBN) imposing 0.005% levy on all electronic transactions. The ATCON President, Mr Olusola Teniola, said at a media briefing...
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41 items still banned under Nigeria-China currency swap deal-CBN
May 20, 2018 No Responses

41 items still banned under Nigeria-China currency swap deal-CBN

The Central Bank of Nigeria (CBN) said the Nigeria-China currency swap deal would not cover the importation of the 41 items banned in its 2015 circular on items not valid for foreign exchange. CBN’s acting Director, Corporate Communications, Mr Isaac...
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Banks must repay excess charges with interest, says CBN
May 8, 2018 No Responses

Banks must repay excess charges with interest, says CBN

The Central Bank of Nigeria (CBN), said any bank that deducts monies illegally from a customer’s account for products and services would be forced to refund the money to the customer with interest. Mr Fada David, Consumer Complaints Management, Consumer...
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CBN Wants Shell Banks Abolished in Nigeria
February 13, 2018 No Responses

CBN Wants Shell Banks Abolished in Nigeria

The Central Bank of Nigeria (CBN) has called for the abolition of shell banks in the country, saying they serve as institutions for money laundering. Shell banks are institutions that carry out activities where they are not licensed. Mr Godwin...
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Prices of Foods in Nigeria Hit 8-year High Under Buhari
August 29, 2017 No Responses

Prices of Foods in Nigeria Hit 8-year High Under Buhari

 The National Bureau of Statistics, NBS, stated in its latest report released that food price pressure continued into July as all major food sub-indexes increased, with food inflation in the country rising by 20.28 per cent Year-on-Year (YoY) in July....
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CBN Injects $250m into Forex Market
August 28, 2017 No Responses

CBN Injects $250m into Forex Market

The Central Bank of Nigeria (CBN) has again intervened in the Inter-Bank Foreign exchange Market to the tune of 250 million dollars. The Acting Director, Corporate Communications Department, CBN, Mr Isaac Okorafor, said the Apex Bank also sold 100 million...
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SAVE MTN, AIRTEL, ETISALAT, GLO, FROM DISTRESS, ALTON URGES NCC, CBN
July 3, 2017 No Responses

SAVE MTN, AIRTEL, ETISALAT, GLO, FROM DISTRESS, ALTON URGES NCC, CBN

Telecommunications operators have urged Nigerian Communications Commission (NCC) and the Central Bank of Nigeria(CBN) to re-priotise its foreign excahnge regime policy and the industry suspended data floor price in order to save operators from economic distr...
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Hakeem Bello-Osagie Told to Step Aside as France Telecoms, Vodafone Pitch for Etisalat Nigeria
June 30, 2017 No Responses

Hakeem Bello-Osagie Told to Step Aside as France Telecoms, Vodafone Pitch for Etisalat Nigeria

Sources in the know have hinted that plans are in the advance stage in the bid to swiftly restructure Etisalat Nigeria by setting a new management and appoint a new board. This is coming in the wake of the resignation...
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NCC, CBN Wade into Etisalat Debt Crisis
June 21, 2017 No Responses

NCC, CBN Wade into Etisalat Debt Crisis

In Order to find a resolution to the debt crisis troubling Etisalat Nigeria, a meeting between the officials of the company, Nigerian Communications Commission (NCC), the Central Bank of Nigeria (CBN) and a consortium of banks has reportedly been scheduled...
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CBN Injects $413.5m in Economy to Sustain Naira Value
June 12, 2017 No Responses

CBN Injects $413.5m in Economy to Sustain Naira Value

The Central BankNigeria (CBN) on Monday intervened in the inter-bank Foreign Exchange market to the tune of 413.5 million dollars to further shore up the international value of the Naira. The CBN acting Director, Corporate Communications, Mr Isaac Okorafor, in...
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