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All posts tagged "CBN"

  • Extension of Interbank Guarantee to ETB on Signing of TIA – CBN Release

    Following the successful signing of Transactions Implementation Agreement (TIA) between Equatorial Trust Bank Limited (ETB) and Sterling Bank Plc, the CBN wishes to announce extension of interbank guarantee given to ETB to 31st December 2011. The extension...

    • Posted August 27, 2011
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  • UK mobile money outfit Monitise gets Nigerian License

    UK mobile money outfit Monitise is ready to roll out its platform in Nigeria after getting a licence from Central Bank of  Nigeria. Having secured a provisional licence late last year, the vendor has been laying the...

    • Posted August 23, 2011
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  • CBN Guidelines on Point of Sale (POS) Card Acceptance Services

    In preparation for the take-off of its policy on cash withdrawal limit, the Central Bank of Nigeria, CBN, has issued guidelines for payment of goods and services through Point of Sale Terminal (PoS). Among other things the...

    • Posted August 15, 2011
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  • CBN Extends Credit Guarantee for Oceanic to December

    Nigeria’s central bank extended an interbank credit guarantee for Oceanic Bank International Plc to Dec. 31 after it signed a deal to be acquired by Togolese lender Ecobank Transnational Inc. The extension “should give the market the...

    • Posted August 2, 2011
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  • CBN increases Dollar Sales to Bureau de Change

    Nigeria’s naira headed for the biggest gain in three weeks after the central bank doubled the amount of dollars banks can sell to foreign-exchange bureaux. The currency of sub-Saharan Africa’s second-biggest economy appreciated 0.3 percent to 152.55 per...

    • Posted August 2, 2011
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  • CBN to Review Upward FOREX Sales to Bureaux De Change

    The Central Bank would soon review upward the limit on banks’ autonomous foreign exchange sales to bureaux de change (BDC). The apex bank indicated this in the communiqué issued at the end of the monetary policy committee...

    • Posted July 28, 2011
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  • CBN Increases Benchmark Rate to 8.75% to Curb Inflation

    Central bank increased its benchmark interest rate for the fourth time this year as rising wages and higher energy costs threaten to boost inflation. The monetary policy rate increased by three quarters of a percentage point to...

    • Posted July 26, 2011
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  • CBN Extends Credit Guarantee for 3 Banks

    Nigeria’s central bank extended its inter-bank credit guarantee for three bailed out banks until the end of December, according to its notice published today in Lagos-based Punch newspaper. The guarantees for Intercontinental Bank Plc, Union Bank Plc...

    • Posted July 18, 2011
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  • CBN’s interest-free banking gains momentum

    It seems that the influential governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, is winning the “hearts and minds” debate over the introduction of interest-free (Islamic) banking into Africa’s most populous yet highly...

    • Posted July 18, 2011
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  • Naira Weakens at Central Bank Auction

    Nigeria’s naira weakened at a central-bank auction today, snapping five straight increases as lenders demanded the most foreign currency in five sales. The marginal rate, which is used as the prevailing exchange rate, fell to 150.08 per...

    • Posted July 13, 2011
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