Updates

CBN Says Customs to Use FX Closing Rate on Date of Form M for Import Duty Assessment

February 25, 2024/CBN Following the liberalization of the FX market on Willing Buyer — Willing Seller trading principle, the Central Bank of Nigeria has noted the concerns of Importers of goods and services in the irregular changes in the Import Duty Assessment levies applied by the Nigeria Custom service. These […]

CBN Unveils Exposure Draft of Its Revised Regulatory and Supervisory Guidelines for BDC Operations in Nigeria

February 24, 2024/CBN Pursuant to the powers conferred under Section 56 of the Banks and Other Financial Institutions Act, 2020 (BOFIA), the Central Bank of Nigeria (CBN) hereby issues this draft revised Regulatory and Supervisory Guidelines for Bureau de Change (BDC) Operations in Nigeria for stakeholder comments and/or inputs. The […]

ECOMOF 2024: UBA Affirms Pledge to Stimulate African Economic Expansion through Strategic Supports for Mining, Oil Sectors

February 24, 2024/UBA Plc Africa’s Global Bank, United Bank for Africa (UBA) Plc has reaffirmed its unwavering commitment to spearhead economic growth across the continent through targeted policies aimed at maximizing the benefits derived from the mining and oil sectors. To this end, the bank is poised to collaborate with […]