Tag: CBN
BREAKING: CBN Gov Cardoso, Edun Arrive House of Reps for Debate on Economy
The ongoing sectoral debate on the economy at the House of Representatives currently features notable figures, including Yemi Cardoso, the Governor of the Central Bank of Nigeria, and Wale Edun, the Minister of Finance. Also present are Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), and Abubakar Bagudu, the Minister of…
Stakeholders Slam Customs, CBN Over 48% Hike in Import Duty, Say It is Detrimental to the Masses
Stakeholders from both the maritime and organized private sectors have strongly criticized the Nigeria Customs Service (NCS) and the Central Bank of Nigeria (CBN) for significantly raising import duties, arguing that such a move is harmful to the general populace. According to a report by SHIPS & PORTS published on Saturday, the NCS and CBN…
CBN Bans Banks, Fintechs from International Money Transfer Services, Jerks Up Application Fee by 1,900%
The Central Bank of Nigeria (CBN) has issued a prohibition on banks and financial technology companies (fintechs) offering international money transfer services. This notice is outlined in the updated guidelines for the operations of International Money Transfer Operators (IMTOs), which were formally published on January 31, 2024. The document read: “All banks are prohibited from operating…