CBN Stops Daily Cash Reserve Debits For Banks

The Central Bank of Nigeria (CBN) has announced an end to the daily Cash Reserve Ratio debits for commercial banks in the country. The apex bank says it will adopting an updated Cash Reserve Requirement mechanism for Nigerian banks. This was contained  in a circular titled ‘Cash Reserve Requirement Framework Implementation Guidelines’ signed by its Acting

The Super story surrounding Tinubu’s Student Loan

Disappointment has continued among students and parents over the delayed launch of the student loan scheme, despite assurance from the federal government that it will commence disbursement of the education loans in January 2024. The student loan, which was anticipated as a new chapter in accessible education by indigent students, has been overshadowed by persistent

CBN removes exchange rate cap for International Money Transfer Operators

The Central Bank of Nigeria (CBN) has issued a new circular that removes the previous cap on exchange rates quoted by International Money Transfer Operators (IMTOs). This follows a circular issued by the central bank addressing suspected cases of excessive foreign currency speculation and hoarding from Nigerian banks. The circular titled Removal of Allowable Limit of Exchange