The Central Bank of Nigeria (CBN) has dismissed media reports that it will withdraw 'Form A' discounted foreign exchange (FX) window and effectively stop the funding of overseas school fees, saying it will continue to meet all legitimate requests. The apex bank urged parents, students, and other members of the public to disregard the reports…

Godwin Emefiele, Governor of Central Bank of Nigeria (CBN), on Monday, withdrew the suit he filed against the Independent National Electoral Commission (INEC) and the Attorney-General of the Federation over his presidential ambition. Emefiele, through his counsel, S.T. Maliki, told Justice Ahmed Mohammed that a notice of discontinuance had been filed and served on the…

The House of Representatives has urged the Central Bank of Nigeria (CBN) to reinforce the use of coins on Nigerians. House of Reps made the call during Tuesday's plenary session in Abuja. The lawmakers want the "use of coins as a legal tender and ensure that Banks comply with the use of coins to the…

The Central Bank of Nigeria (CBN) has slashed charges for Automated Teller Machine (ATM) withdrawal and inter-bank transfers. CBN's review of the charges was contained in its revised guidelines to charges by banks, other financial institutions and non-bank financial institutions. ATM withdrawals that attract a service charge of N65 will now be N35 after the…

The Nigeria government plans to toll the Lagos-Ibadan Expressway, the ongoing 2nd Niger Bridge, and other roads, to repay loans used to build them, according to Godwin Emefiele. "All of the roads will be tolled. And we know that in many other countries in the world, roads are tolled because those projects are commercially viable,"…

Nigeria’s commodity player, AFEX, has partnered with the Flour Milling Association of Nigeria, to boost sustainable production, processing, supply, and marketing of wheat produced in Nigeria. The partnership was announced at an MoU signing ceremony at the launch of the Brown Revolution Initiative by the Federal Government on Tuesday. The partnership is targeted at achieving…

It has been three days since the Nigerian government launched its eNaira digital currency. The days have been characterised by complaints and displeasing experiences for users of the applications. Mark Samuel, one of the users of the eNaira Speed wallets described the application as "an app with so many flaws." Samuel's reaction is one out…

Nigeria central bank digital currency (CBDC), the eNaira, has gone live after an official launch by President Muhammadu Buhari on Monday. Buhari launched the eNaira at the State House in Nigeria's capital Abuja after a previous plan to unveil the digital currency on October 1 was put on hold. "We have become the first country…

Nigerians trading cryptocurrency on Luno will be able to deposit and withdraw in local currency from November, the trading platform said on Monday. "We’re thrilled to announce that deposits and withdrawals in Naira will resume on the Luno platform in November," Luno told its users in an email. Luno halted naira deposit and withdrawal for…

Nigerian commodities player, AFEX, in collaboration with the Central Bank of Nigeria, on Thursday, held a policymakers field day for farmers in Kaduna State. At least 200 maize and Soyabeans farmers were hosted for the field day at the AFEX maize and Soyabean demo farms in Richifa and Shika in the state. AFEX Fair Trade…

Delegates from the Nigeria Bar Association (NBA), agencies, and organisations involved in Nigeria's fight against money laundering and terrorist financing have called for sustained synergy to define and establish compliance with the AML/CFT regime. The call was made at a one-day stakeholders' workshop organised by the Centre for Fiscal Transparency and Integrity Watch (CFTIW) in…

Nigeria's inflation rate has dropped to 17.38 percent in July from 17.75 in June 2021, according to the National Bureau of Statistics (NBS). The latest inflation rate was contained in the ‘Consumer Price Index (CPI) Report for July’ released by the NBS on Tuesday. CPI measures the rate of change in the prices of goods…