July 12, 2023/Ecobank Ecobank customers can now transfer money in seconds to 33 African countries where Ecobank Group operates using Ecobank Mobile and Omnilite apps and the recipient gets immediate credit in the target country’s local currency. Announcing this new development in Lagos, Head, Consumer Banking, Ecobank Nigeria, Korede Demola- Adeniyi, […]
Money Market
CBN Announces Naira Payout Option for Receipt of Proceeds of Diaspora Remittances
July 12, 2023/CBN Further to the circular referenced TED/FEM/FPC/GEN/01/011 dated November 30, 2020 in respect of the above subject, the Central Bank of Nigeria hereby announces Naira as a payout option for receipts of proceeds of International Money Transfers. Accordingly, all recipients of diaspora remittances through the CBN approval IMTQOs […]
Nigerian Banking Sector 2023 Mid-Year Outlook – Unearthing Potential Pass through of Policy Rejigs
July 10, 2023/Cardinalstone H1’23 witnessed numerous twists critical to the banking sector outlook. These twists included the abolition of FX market segmentation, the entrenchment of a 2-way quote system premised on the willing buyer-seller mode and plans to normalise the use of the CRR as a monetary policy tool. The […]
