Money

The Nigeria Interbank Settlement System (NIBSS) has called for the disconnection of switching companies, payment solution service providers (PSSPs) and super agents (SAs) from the instant payment outwards system

Total inflows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) declined by 6.2 per cent month-on-month (MoM) to $1.23 billion in October after it pivoted from a three-month high of $1.31 billion the preceding month.

Worried about the continuous fall of the Naira against the dollar, the Association of Corporate Treasurers of Nigeria (ACTN) has called on the Federal Government to implement policies that would facilitate the convergence of Nigeria's official window and parallel market rates. According to them, the reason for the floating of the Naira was for the…

.Dollar sustains upward swing as pressure on supply intensifies Nigeria’s currency, the Naira, is still under immense pressure as the Central Bank of Nigeria (CBN) continues to explore new mechanisms to address the forex challenge. The CBN Governor, Oluyemi Cardoso, in a policy document released in Abuja, said the apex bank is currently evaluating how…

The Central Bank of Nigeria (CBN) has insisted that the adoption of the eNaira is not and never a threat to financial stability in the country. The apex bank said contrary insinuations that the adoption of the eNaira portends danger to financial inclusion; it explained that the country’s Central Bank Digital Currency (CBDC), the eNaira,…

A Bitcoiner, Prince Akpah, has advocated the need for Africa to adopt the use of the digital currency to seal deals and finalise business transactions. According to him, it has been noted that if Bitcoin has to grow, it calls for more adoption, which is going to happen on the continent. He said that that…

When I started as a 9-5 baddie, I tried to save a lot, but these corporate streets are not for the weak! From looking good, coming through for friends or family, and paying bills to live up to the corporate Gen Z hype, nothing comes cheap. I haven't even factored in food or the emergency…

The Office of the Auditor General of the Federation (OAGF) has expressed concern over the lack of financial and administrative autonomy by subnational governments to effectively carry out performance audits of government programmes and activities. According to the office, performance audit requires specialised skills, hence the need for more funds to employ skilled personnel to…

.As dollar continues to trade above N900/$ at black market FMDQ Securities Exchange has posted a total turnover of $417.9 million in its foreign exchange (FX) spot and derivatives market segment for the week ended August 25, 2023. The figure represents a decrease of 32.61 per cent ($202.2 million) from $620.1 million reported for the…

About 48 hours after President Bola Tinubu and Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, held a crucial meeting on the state of the foreign exchange (FX) market, there is a breather for naira as it recorded a moderate gain trading at about N880/$ at the black market yesterday. Dollar spiked…

Before the advent of Russia-Ukraine in February 2022, UBA had put in place a robust risk management framework to adapt to any emerging risk in all its countries of operations.

With a financing access gap of over 99 per cent, Nigeria’s micro, small and medium-scale enterprises (MSMEs) are, perhaps, the least funded globally.