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Nigeria’s Central Bank Clamps Down, Revokes 2,698 Bureau de Change Licenses

ABUJA, Nigeria — The Central Bank of Nigeria, CBN, dramatically curtailed the number of authorized Bureau de Change, BDC, dealers on Wednesday, July 19,...

On the Brink: Maize Deficit Threatens the Survival of Nigeria’s Poultry Industry

ABUJA, Nigeria - The Poultry Association of Nigeria, PAN, has raised an alarm over the imminent collapse of the country's poultry industry unless urgent...

Nigeria’s Secret Police Reveals Plans to Charge Emefiele

ABUJA, Nigeria - The Department of State Services, DSS, has brought formal charges against the suspended Governor of the Central Bank of Nigeria, CBN,...

DSS Set to Charge Suspended CBN Governor Emefiele for Alleged Illegal Firearm Possession

LAGOS, Nigeria - Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria, CBN, is set to be tried on charges of illegal...

Central Bank of Nigeria Adds Local Currency to International Money Transfer Options

ABUJA, NIGERIA — The Central Bank of Nigeria, CBN, has issued a directive to International Money Transfer Operators, IMTOs, stating that domestic beneficiaries can...

A Stand for Social Privacy: House of Reps Halts Central Bank’s Social Media KYC Push

ABUJA, Nigeria - The House of Representatives has ordered the Central Bank of Nigeria, CBN, to halt its recent directive that social media handles...

Nigeria’s Central Bank Raises Red Flag on Financial Dealings with Cameroon, Croatia, and Vietnam

ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has issued a warning to commercial banks and other financial institutions about the risks of...

Nigeria’s Central Bank Sets N50,000 Daily Limit for Contactless Payments

CALABAR, Nigeria - The Central Bank of Nigeria, CBN, has established a N15,000 limit for contactless payments, with a daily cumulative limit not exceeding...

The CBN’s New Social Media Data Requirement: A Deep Dive into the Implications [MUST READ]

The Central Bank of Nigeria, CBN, has recently updated its Customer Due Diligence Regulations, making it compulsory for financial institutions to include customers' social...

Nigeria’s Central Bank Mandates Banks to Collect Customers’ Social Media Handles

ABUJA, Nigeria — The Central Bank of Nigeria, CBN, has issued a mandate for financial institutions to obtain the social media handles, email addresses,...

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