Tag: Central Bank of Nigeria
CBN Develops Uniform Account Opening Form for Banks, Other Financial Institutions
Form (A) I Account is limited to a maximum single deposit of 20,000 Maximum cumulative balance 200,000 naira at any point in time Form (A) II is similar to form (A) I, but maximum single deposit is 50,000 naira Maximum cumulative balance is 400,000 naira International funds transfer prohibited. By […]
Naira Devaluation Seen on Central Bank Upheaval: Africa Credit
Nigeria’s currency is at risk of being devalued after President Goodluck Jonathan suspended the central bank governor last week, eroding confidence in monetary policy and sending the naira to a record low. The naira, which rose for the first time in six days yesterday, posted its biggest five-day drop in […]
