Tag: CBN
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Bluebulb Financials Showcases Thought Leadership at Treasury 360 Conference
Bluebulb Financials took center stage at this year’s Treasury 360 Conference, held on the 14th of November, further solidifying its position as a leader in treasury management and financial innovation. The event, which brought together financial experts, treasury professionals, and industry innovators, focused on key topics such as policy implications, navigating market complexities, and building…
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How CBN Recapitalization Policy Has Impacted FX Inflow and You
The Central Bank of Nigeria (CBN) implemented a recapitalization policy for commercial banks in 2024, in a circular released on March 28th. This policy mandated banks to increase their minimum capital base to a specified level within a set timeframe. The decision was aimed at strengthening the banking sector, enhancing financial stability, and fostering economic…
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Impact of Foreign Exchange Rate (FX) on Fuel Pump Price in Nigeria
Nigeria, as a significant importer of refined petroleum products, is heavily reliant on foreign exchange to meet its domestic fuel demand. Consequently, fluctuations in foreign exchange rates have a direct and substantial impact on fuel pump prices within the country. Understanding the Relationship Contact us today for your foreign exchange needs click here Key Factors…
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The Central Bank of Nigeria (CBN) through its Monetary Policy Committee (MPC)
The Central Bank of Nigeria (CBN) through its Monetary Policy Committee (MPC) has raised the interest rate by 50 basis points to 27.25% following the latest MPC report on Tuesday, 24th of September. Key changes:Commercial banks’ Cash Reserve Ratio (CRR) up by 500bps to 50%Asymmetric corridor now at +500/-100bps.
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296th Monetary Policy Committee – MPR Raised by 50 bps from 26.25% to 26.75%
On July 23, 2024, the Central Bank of Nigeria’s Monetary Policy Committee unveiled its latest measures on monetary tightening, aimed at curbing inflation. We’ve outlined the critical decisions and their potential effects. It’s crucial to stay updated on these developments to grasp their impact on our economy and your financial well-being.
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CBN Announces Policies to Boost Naira Liquidity for Foreign Remittance
The Central Bank of Nigeria (CBN) has unveiled a set of new measures aimed at enhancing local currency liquidity for the settlement of diaspora remittances. The key points from the circular dated June 24, 2024, are highlighted below: Note: IMTOs can now access Naira liquidity directly from the CBN or through their authorized dealer banks.…
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CBN brings back IMTO to the Foreign Exchange Market
The Central Bank of Nigeria (CBN) has announced a policy shift allowing International Money Transfer Operators (IMTOs) to resume sending foreign transactions directly through official channels. This move is expected to potentially increase recorded remittance inflows. By permitting IMTOs to sell foreign exchange on the NAFEM window, the CBN aims to achieve several objectives: CBN…
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A Historical Look at The Nigerian Currency
In the pre-colonial era, various items served as mediums of exchange across different cultures in Nigeria. These included cowries, manilas, beads, bottles, and salt, among others. The issuance of the first major currency in Nigeria occurred following the colonial ordinance of 1880, which introduced the Shillings and Pence as legal tender currency in British West…