April 13, 2015/Thisday The Central Bank of Nigeria (CBN) has rolled out punitive measures for bank customers that are fond of issuing cheques against unfunded accounts. The central bank, which stated this in a letter to all banks posted on its website recently, said it had noted with great concern […]
Money Market
Naira Appreciates N206/$1 in Black market on CBN Sales to BDCs
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The naira on Wednesday traded N206 to one dollar ($1) appreciating in the parallel market (black market) recording 1.44 percent gain when compared to its previous day’s position of N209/$1, according to Proshare’s daily exchange monitor. According to the report, the value of the naira […]
CBN Cuts Yearly Spending Limit on Naira Debit Card to $50,000
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) said on Tuesday its cutting down the spending limit on the usage of the naira denominated debit cards for transactions abroad, from $150,000 per person annually to $50,000. Also, the CBN fixed the daily cash withdrawal limit on the […]
