The Central Bank of Nigeria (CBN) has continued its sacking spree after 50 more staff were reportedly laid off on Monday. The latest round of disengagements at the Apex Bank took the number of affected staff to 117 within a space of three weeks. Since Olayemi Cardoso was appointed by President Bola Tinubu as CBN…

The Central Bank of Nigeria (CBN) has approved the sale of $10,000 to Bureaux De Change (BDC) operators at the rate of N1,101 to a dollar. CBN Director, Trade and Exchange Department, Dr. WJ Kanya, in a circular said BDC operators are not permitted to sell a dollar above N1,117. It directed each BDC to…

Less than a week into the effective date of the exercise, the recapitalisation programme of banks may face its first acid test in the coming days as influential bank owners and top bankers have started throwing spanners into the implementation...

Global cryptocurrency trading platform Binance on Wednesday called for the release of Tigran Gambaryan, its executive in Nigerian custody. A spokesperson for the crypto giant said Gambaryan helped Nigeria's anti-graft and security agencies recover assets and tackle money laundering, fraud, and kidnapping around June and late 2023. READ ALSO: Detained Binance executive escapes from custody…

The Association of Bureaux de Change Operators of Nigeria (ABCON) has lauded the decision of Olayemi Cardoso-led Central Bank of Nigeria (CBN) to bring back bureau de change (BDC) operators into the mainstream FX market as a major factor driving exchange rate stability.

Nigerian banks have 24 months to recapitalise their capital base to at least N500 billion international authorisation capitalisation to continue operations in the country, the Central Bank of Nigeria (CBN) has said. This comes after the apex bank urged Nigerian banks to expedite action on the recapitalisation of their capital base to strengthen the financial…

The Central Bank of Nigeria (CBN) yesterday, says it has successfully settled all outstanding foreign exchange (FX) obligations. Acting director of corporate communications at CBN, Hakama Sidi Ali, disclosed this in a statement on Wednesday.

Months after the Central Bank of Nigeria (CBN) halted direct intervention in the economy, the monetary authority has allocated 2.15 million bags of fertilizer valued at N100 billion to the Federal Ministry of Agriculture and Food Security for distribution to farmers.

Families of the two Biannce officials detained in Nigeria have revealed their identities. Nadeem Anjarwalla, 37, and Tigran Gambaryan, 39, have been in Nigerian detention since last month when they flew into Nigeria to discuss with the country's investigators as authorities began an intense scrutiny of cryptocurrency exchanges. Gambaryan currently heads Binance's financial-crime compliance and…

It is no longer news that the continued collapse of the naira in the foreign exchange (FX) market is already eliciting desperate and panicky measures from the monetary authorities.

The sectoral debate organised by the House of Representatives may have come and gone but its memories will linger in the minds of Nigerians for a long time to come.

A rights group, Nigerian Unemployed Youth Vanguard has blamed the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso for the hyperinflation and it's attendant consequences on the wellbeing of the citizenry.