In a new circular dated May 6, 2024, the Central Bank of Nigeria (CBN) enacted a new transaction levy tagged “Cybersecurity Levy” on all electronic transactions in all banks, commercial and other financial institutions. According to the circular, “Following the enactment of the Cybercrime (Prohibition,
The Governor of the Central Bank of Nigeria, Godwin Emefiele has explained that the uptick in Nigeria’s food inflation is due to the worsening security situation in many parts of the country. He disclosed this while addressing the media after the briefing of the monetary
The Central Bank of Nigeria (CBN) on Monday discontinued the processing of Forms M for the importation of maize/corn into the country. The apex bank directed all authorized dealers to submit the list of Forms M already registered for the importation of maize/corn using a
Nigeria’s naira on Thursday rose to N410 to a U.S dollar at the black market, after the global pandemic of Coronavirus downed oil price to below $35 a barrel. Foreign exchange users are buying up the dollar to hedge against the potential devaluation of the
The Central Bank of Nigeria (CBN) disbursed the sum of N299.16 billion through six (6) Agricultural Schemes in 2018. According to the Central Bank’s annual report for 2018, the agricultural schemes include the Commercial Agriculture Credit Scheme, Anchor Borrowers’ Programme and Paddy Aggregation Scheme. The other schemes are the