The Central Bank of Nigeria has issued fresh directives to banks to comply with the amended anti-money laundering/combating the financing of terrorism regulation, 2009 so as to align with money laundering Act, 2011 and terrorism Act, 2011. A circular by the CBN on Friday listed the sections of the AML […]
Author: InvestAdvocate
Inter-bank rates up on NNPC cash withdrawal
Inter-bank lending rates rose more than 80 basis points last week to an average of 11.41 per cent, compared with 10.58 per cent the previous week, as cash outflows to Treasury bill sales and a withdrawal by the Nigerian National Petroleum Corporation drained liquidity. Dealers said Central Bank of Nigeria […]
CBN to stop selling cash to bureaux de change – Sanusi
GOVERNOR, Central Bank of Nigeria, Mr. Lamido Sanusi, said in Tokyo on Sunday that the bank would soon stop selling cash to bureaux de change. He said, “Seventy per cent of the dollars that people buy from bureaux de change are not for transactions outside Nigeria. They move dollars from […]
