NAIRA-FOR-DOLLAR: New CBN policy takes off

The Central Bank of Nigeria has said  its new ‘Naira for Dollar Scheme” which  takes effect today, would  provide Nigerians in the Diaspora with cheaper and more convenient ways of sending remittances to Nigeria. The policy, which gives N5 rebate for every $1 sent by Nigerians in the diaspora  to the country,  will be paid … Continue reading NAIRA-FOR-DOLLAR: New CBN policy takes off

CBN sets N2b benchmark for Mobile Money Operators (MMOs)

Mobile Money Operators (MMOs) are to maintain a minimum of N2 billion capital base, the Central Bank of Nigeria (CBN) has directed in a circular signed by its Director, Payments System Management Department, Musa Jimoh. They have also been authorised by the apex bank to hold customers’ funds under its new licencing framework. According to … Continue reading CBN sets N2b benchmark for Mobile Money Operators (MMOs)

An Overview of Small and Medium-scale Enterprises (SMEs) in Nigeria

  CHAPTER TWO LITERATURE REVIEW 2.1 AN OVERVIEW OF SMALL AND MEDIUM-SCALE ENTERPRISES (SMEs) SMEs stimulate economic development by facilitating productive activities in different sectors of the economy. It increases National Income (NI) and enables equitable distribution of wealth through employment, industrial linkages, export promotion and value creation for investors, customers and stakeholders, including the … Continue reading An Overview of Small and Medium-scale Enterprises (SMEs) in Nigeria

CBN refunds N6.8bn excess charges to retail bank customers

  The Central Bank of Nigeria, CBN, yesterday, disclosed that commercial banks have refunded N6.8 billion excess charges to their customers in the first half of 2018 (H1’18), the Vanguard reports. The apex bank disclosed this in its half year, 2018 economic review report. The CBN report showed that the N6.8 billion excess charges refunded … Continue reading CBN refunds N6.8bn excess charges to retail bank customers

The Central Bank Of Nigeria Orders Bankers To Declare Assets.

The Central Bank of Nigeria has ordered workers in all 19 Deposit Money Banks in the Nigeria to declare their assets. Image: Former Zenith Bank Boss and now CBN Governor Godwin Emefiele. Four weeks ago, a letter was sent from the Banking Supervision Department of the CBN to all the 19 commercial banks in Nigeria informing … Continue reading The Central Bank Of Nigeria Orders Bankers To Declare Assets.