Travelex pledges support for CBN’s forex transactions rule
TRAVELEX, one of the world’s largest providers of airport and passenger terminal currency exchange, said it is in support of the use of Bank Verification Number as requisite for foreign exchange transactions.
FMDQ admits N17.7b NB Commercial Paper
HAVING successfully met the quotation requirements as contained in the FMDQ Commercial Paper (CP) Quotation Rules, and following the approval of the Board Listings and Quotations Committee of FMDQ OTC Securities Exchange (FMDQ),...
Enforcing forex rules on BDCs with BVN
The newly initiated BVN-for-foreign exchange transactions’ rule seems to be the much-needed silver bullet to enthrone a regime of sanity, transparency and compliance to rules in the Bureaux De Change segment. CHIJIOKE NELSON writes on the initial results few days after enforcement. The Central Bank of Nigeria (CBN), in just a few days to the…
BVN: Nigerians In The Diaspora Were Not Considered, Says Okoli
DESPITE the decision of the Central Bank of Nigeria (CBN) to extend the timeline for Nigerian bank customers in the Diaspora to enroll for their Bank Verification Numbers (BVN) to January 31, 2016, indications have emerged that such customers feel not carried along in the exercise.
Bank directors organise business forum
THE Bank Directors Association of Nigeria (BDAN) is organising a business forum to discuss key issues facing the Nigerian banking industry.
Underage Drinking: Guinness, Others Lead War Against Menace
“I was a raging alcoholic at the age of 15 and I wish my parents had made me pay a stiff price for my alcoholism at that early age. Maybe then I would not have spent the next 30 years making a mess of my life and many others.
‘Manufacturing Contributes Only 4% To Nigeria’s GDP’
THE Director General of the Manufacturers Association of Nigeria (MAN), Mr. Remi Ogunmefun has stated that despite the challenging operating environment characterised by poor electricity supply, high borrowing cost, infrastructural inadequacies and rising foreign exchange rate, among others, the manufacturing sector contributes an average of four per cent to Nigeria’s GDP.
Payments system: De-risking inclusion rate
The renewed campaign on financial inclusion in the country may have yielded positive results as the current rate of adoption has moved up by 6.8 per cent to 60.5 per cent.