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BREAKING: CBN bans sale of forex to BDC

The Central Bank of Nigeria (CBN) on Monday announced immediate discontinuation of sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country. Mr Godwin Emefiele, the CBN Governor, made this announcement on Tuesday, while presenting a communique from the apex bank’s Monetary Policy Committee (MPC) meeting …

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FCMB confirms Yemisi Edun as CEO

First City Monument Bank, FCMB Limited has confirmed the appointment of Yemisi Edun as the substantive managing director of the bank. Her appointment followed the end of  service of the bank’s former Managing Director, Adam Nuru. In a statement, the Board said it reviewed media allegations made in late 2020 …

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IMF cautions Fed Govt on CBN borrowings

The International Monetary Fund (IMF) has cautioned the federal government to keep its borrowing from the Central Bank of Nigeria within legal limits. The IMF gave the caution in a statement issued at the end of its staff visit to Nigeria. The mission led by Ms. Jesmin Rahman urged the …

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Bank deposits rose by N6.95tn in one year – CBN

Bank deposits rose by N6.95tn between February 2019 and February 2020, the Central Bank of Nigeria said. The CBN disclosed this in its report on some of the personal statements of members of the Monetary Policy Committee obtained by our correspondent on Thursday. Part of the statement read, “However, there …

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