Recently the Central Bank of Nigeria (CBN) has been tracking down suspicious bank transactions of businesses and individuals and has frozen 11 accounts so far.CBN announced on Wednesday that it got an...
The recent implosion of the global equity markets - from Hong Kong to New York - engendered yet another round of the semipternal debate: should central banks contemplate abrupt adjustments in the pric...
What is the definition of a Basel 1DefinitionBasel I (also known as the 1988 Basel Accord) is a set of international banking rules created by the Switzerland-based Basel Committee on Bank Supervision ...
Bank Verification Number (BVN) is requested as a form of identification through several channels; Nigerian banks use it to keep track of various account numbers and the activities of their owners.Most...
The Central Bank of Nigeria (CBN) recently prohibited foreign banks with representative offices in Nigeria from, among other things, providing services categorized as "banking businesses." In its...
On Monday, data from the FMDQ securities exchange revealed that the naira's value at the official foreign exchange market declined to N1,234 against the US dollar.According to the exchange rate, the n...
Gold prices are expected to hit a new all-time high of $2600 in 2023, compared to $2075 in 2020 as reported by CNBC. Here is what you need to know about this precious mineral, its current price, and w...
The Central Bank of Nigeria (CBN) recently reported that it has successfully finished the sale of government securities, issuing N1.053 trillion (US$680 million) in short instruments as part of its li...
In its recent warnings, the Central Bank of Nigeria has asked mortgage banks nationwide to submit regulatory returns early. This was because it also warned Development Finance Institutions and Mi...
On Sunday, the Federal Reserve announced that it would cut interest rates to zero alongside launching a new quantitative ease program worth $700 billion of assets purchases including Treasuries and mo...