News Analysis

Nigeria’s CBN to sanction fraudulent forex claims, governor says

ABUJA, Feb 9 - Nigeria's central bank governor Olayemi Cardoso said on Friday that entities involved in fraudulent foreign exchange trades would be...

No plans to convert domiciliary accounts into Naira – CBN

February 3, 2024. Azonuchechi Chukwu. The Central Bank of Nigeria (CBN) says it has no plans to convert domiciliary account holdings valued at 30 billion dollars...

CBN denies rumors of Conversion of Domiciliary Bank Accounts to Naira account

  Senior officials from both the Central Bank of Nigeria (CBN) and the federal Ministry of Finance have vehemently denied any plans to convert funds...

Nigeria Considers Converting Domiciliary Deposits to Local Currency

  The Federal Government is contemplating a significant policy shift that involves converting foreign currencies in domiciliary accounts to naira to stabilize the national currency....

Takeaways: CBN’s Circular on Forex Speculation Control

Timely Intervention:The Central Bank of Nigeria (CBN) has issued a crucial circular titled "Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks" to...

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