E-payment transactions up 33% to N74.9trn in 2016 — CBN

By Elizabeth Adegbesan THE Central Bank of Nigeria, CBN, said the total value of electronic payment (e-payment) transactions in the country in 2016 rose to N74.9 trillion, up 33 percent from N56.3 trillion recorded in 2015. mobile money In a report released, yesterday, titled: “2016 Annual Report of National Financial Inclusion Strategy implementation”, the apex […]

N12bn crypto currency: Reps urge CBN to direct bank to release facility to Cashflowabi

By Emman Ovuakporie ABUJA—THE House of Representatives has asked the Central Bank of Nigeria, CBN, to direct Diamond Bank, in the overriding interest of 60,000 Nigerian subscribers, to release facility to Cashflowabi to disburse N12 billion Crypto currency to the depositors. This was contained in a four-page report and recommendation adopted by the House, following […]

CBN injects $285.7m into Forex

By Emma Ujah The Central Bank of Nigeria (CBN), yesterday, injected a total of $285,759,449.10 into the Inter-Bank Foreign Exchange Market to meet requests in four sectors of the economy. Details obtained from the CBN indicate that the agricultural, airlines, petroleum and raw materials were the four sectors that received various sums of allocation forex allocation […]

Single-digit inflation rate: Experts task CBN on expansionary policies

Some financial experts on Wednesday called on the Central Bank of Nigeria (CBN) to sustain the current economic growth with expansionary monetary and fiscal policies to achieve a single-digit inflation rate. The experts made the call in interviews with newsmen in Lagos while reacting to the September inflation data. According to them, expansionary monetary and […]