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Understanding FG ban on use of Nigerian cards abroad

Internet marketers in Nigeria and online shoppers are already lamenting the ban on ATM cards abroad and online by the Central Bank of Nigeria. The purpose of the ban is as a result of the Nigerian economy that is currently witnessing one of the...

Cashless Policy To be Rolled Out Nationwide Q2 2014 Says CBN

Before June 2014, Central Bank of Nigeria has said the cashless policy will be extended nationwide. This policy is presently in operation in some states like Lagos and huge success have been recorded in this states. Payments are now  made in these states through POS....

Money Supply in 2014 May Further Be Reduced; says CBN

The CBN governor, Sanusi Lamido announced on Tuesday the Nigeria economy may experience a tight monetary policy for the year 2014, which means there may be further reduction in the supply of money by the Central bank of Nigeria. This announcement was made after the...

N500 Billion Missing From SURE-P Funds – Says Senator

Sen. Kabiru Marafa, a  member of the Senate Ad-hoc Committee on the Subsidy Reinvestment and Empowerment Programme raised an alarm on Tuesday that NNPC could not account for a missing N500bn from the partial removal of subsidy by the Federal Government on the amount of petroleum...

Six Possible Candidates To Replace Sanusi, CBN Governor By 2014

By June 2014 the Central Bank of Nigeria governor's seat will be vacant and a new individual will have to replace Sanusi. There have been some speculations about who will be the next CBN Governor and about six people have be speculated, anyone out...

Cash-less policy: Electronic transactions rise to 20%

Eighteen months after the Central Bank of Nigeria commenced the cash-less policy in Lagos, electronic transactions have increased to 20 per cent from less than five per cent. A report by the Financial Derivatives Company Limited, presented by Mr. Bismarck Rewane, stated, “In the first...