Aminu Gwadebe, the National President of the Association of Bureau de Change Operators, has disclosed that the recent increase in interbank proceeds to Bureaux de Change, as mandated by the Central Bank of Nigeria, along with other contributing factors, has led to a notable appreciation of the Naira against the dollar over the past week….
The Central Bank of Nigeria (CBN) has confirmed that the N100 fee will remain in place for customers withdrawing less than N20,000 from Automated Teller Machines (ATMs) of other banks. This announcement follows the CBN’s admonition to Nigerian banks against imposing restrictions on ATM withdrawals below N20,000 per transaction. The information was shared in a…
The Naira has continued its upward trend against the dollar in the parallel foreign exchange market as of Thursday. Abubakar Alhasan, a Bureau De Change operator in Wuse Zone 4, Abuja, reported that the Naira appreciated to N1,570 per dollar on Thursday, up from N1,575 on Wednesday. This indicates a slight gain of N5 against…
By Ajibola Olarinoye On Monday, February 10, 2025, the Central Bank of Nigeria (CBN) introduced new guidelines regarding the use of Automated Teller Machines (ATMs). These guidelines were detailed in a circular sent to all banks in Nigeria, signed by John Onojah, the acting Director of the Financial Policy and Regulation Department at the…
Nigeria’s recent Treasury bills auction has garnered a remarkable total subscription of N3.22 trillion. The Debt Management Office, acting on behalf of the Central Bank of Nigeria, held the auction on February 5, with allotments taking place the following day, February 6. According to the auction results released on Saturday, the Federal Government offered N670…
The Central Bank of Nigeria (CBN) has released new guidelines regarding the sale of foreign exchange (FX) to Bureaux De Change (BDC) operators. These details were provided in a statement from the CBN’s Trade and Exchange Department on Wednesday. This move follows the CBN’s previous authorization that granted temporary access to existing BDCs to participate…
Fidelity Bank has officially introduced a new physical facility designed specifically for small and medium-sized enterprises (SMEs) and entrepreneurs in the creative industry. In a statement released on Wednesday, the bank announced that the facility, named the Fidelity SME Hub, will include training halls, meeting rooms, networking areas, and podcast studios, along with dedicated spaces…
Nigeria’s external reserves have experienced a notable decline of approximately $1.19 billion over the past three weeks. This information comes from the Central Bank of Nigeria (CBN), which has released data on gross external reserves. As of January 31, 2025, the reserves stood at $39.723 billion, down from $40.877 billion at the end of December…
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has stated that the recent reduction in ex-depot prices of premium motor spirit by Dangote Refinery will help alleviate the hardships faced by Nigerians and positively influence the nation’s economy. Joseph Obele, the spokesperson for PETROAN, shared this information in a statement on Saturday, responding…
Access Holdings Plc has officially appointed Uche Orji as an Independent Non-Executive Director of its subsidiary, Access Bank Plc. In a statement released by the bank on Saturday evening, it was announced that the appointment became effective on January 7, following approval from the Central Bank of Nigeria (CBN). The statement emphasized that this appointment…
