Naira still scarce despite CBN’s new directive
The scarcity of cash persisted on Thursday across the country despite the new directive by the Central Bank of Nigeria (CBN) that banks should withdraw the old notes and dispense to…
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PoS operators reduce charges as naira scarcity eases
Transaction fees charged by Point of Sale (PoS) operators have reduced as naira scarcity has begun to gradually ease following the directive by the Central Bank of Nigeria (CBN) to banks to…
E-payment adoption slows on transaction failures, stamp duty charges
Many Nigerians, mostly traders and commercial bus drivers, are not accepting online transfers due to transaction failures and stamp duty charges by banks.
The redesigned naira notes were…
FX market auction records highest ever bid as naira firms
The foreign exchange (FX) market auction conducted on Wednesday at the investors and Exporters (I&E) forex window recorded N551 per dollar bid, highest ever since the introduction of the…
CBN adopts new strategy to reduce negative interest rates
The Central Bank of Nigeria (CBN), on Tuesday, said it will slow the pace of its rate hikes as a new strategy to reduce negative interest rates in a bid to boost investment in the country.…