September 30, 2016/CBN In its attempt to ensure strict compliance with all extant regulations; particularly those relating to foreign exchange transactions, Financial Action Task Force (FATF) and Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT), the CBN has decided to enhance the minimum qualifications for the position of the Chief Compliance […]
Money Market
Naira Breaks Historic Low, Hits 490/$, Strengthens 475/$ in Parallel Market
By InvestAdvocate Lagos (INVESTADVOCATE) – The Nigerian naira on Friday broke a historic low of N490/$, in multiple sessions before eventually settling at N475 per dollar in the parallel segment of the FX market, according to Cordors currency tracker report. Despite the Central Bank reinforcing its commitment to supporting the […]
Bank Modifies International Spend Limits on Naira Debit Cards
Culled—Proshare September 30, 2016- As the forex scarcity which currently faces the country continues to bite harder, indications have emerged that banks have started to adjust international spend limits. Daily Naira Debit Card limits for transaction on ATMs with current limits put at $200 is expected to be adjusted to […]
