Users of the PalmPay app can now enjoy unlimited free transfers to all banks in the country and also customize their savings plan to suit their preferred savings amount, duration and frequency March 11, 2024/PalmPay In its continued drive for financial inclusion across Nigerian communities, Africa-focused fintech platform PalmPay has […]
Money Market
CBN Reports Upsurge in Dollar Inflow as Remittances Quadruple
March 8, 2024/CBN Culled Proshare The Central Bank of Nigeria (CBN) reported a significant increase in foreign exchange inflow into the economy in February 2024, with marked increments in remittance payments by Nigerians overseas and purchases of naira assets by foreign portfolio investors. Speaking with newsmen in Abuja, the Bank’s […]
Increase in Cash Reserve Ratio, an Effective Monetary Policy Tool?
March 8, 2024/CSL Research The Central Bank of Nigeria (CBN) at its last Monetary Policy Committee (MPC) meeting held on 27 February 2024 raised the CRR for commercial banks to 45%, a 1,250 basis points increase from 32.5% previously bringing the CRR to its highest level in history. The Cash […]
