November 23, 2020/CBN The Central Bank of Nigeria (CBN) has issued a circular (“the Clarification Circular”) to clarify the meaning of the term ‘ultimate supplier’, which was used in a recent circular (2the Circular) directing Authorised Banks to discontinue the process of opening Forms M for Nigerian importers if payments […]
Money Market
CBN Issues Clarification on Destination Payment for All Forms M, Letters of Credit and Other Forms of Payment
November 19, 2020/CBN Further to the Circular Ref. No. TED/FEM/FPC/GEN/01/005 of August 24, 2020, on the above subject and following different interpretations of the term “Ultimate Supplier of products”, Authorized Dealers and the General public are hereby notified of the following clarifications; That the provision of “Ultimate Supplier of products” […]
Mastercard Extends Open Banking Efforts with Close of Finicity Acquisition
November 19, 2020/Mastercard Mastercard (NYSE: MA) today announced it has completed its acquisition of Finicity, a leading North American provider of real-time access to financial data and insights. “Today is a great milestone as we continue to build out the solutions that deliver on the potential of open banking,” said […]
