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Resumption of stamp duty will slow financial inclusion- Expert – Daily Trust

ADVERTISEMENT Financial expert, Dr. Vincent Nwani, Managing Consultant/CEO, RTC Advisory Ltd has said the return of N50 stamp duty resumption of stamp duty will slow financial inclusion in the country. He said: “The implementation of these charges in Nigeria is capable of weakening the financial inclusion drive and financial development goal as a whole especially […]

CBN moves to tighten regulations on Renmoney, others

Home | News | General | CBN moves to tighten regulations on Renmoney, others Army ready for Crocodile Smile IV in Lagos, Ogun Graphic Photos: Man Loses His Arm In A Ghastly Motor Accident Along Ibadan Expressway 15 hours 30 minutes ago 3 The Central Bank of Nigeria (CBN) has taken steps to increase supervision […]

“NDIC Act will receive accelerated action” – Lawan

Senate President, Ahmed Lawan Senate President, Ahmad Lawan has assured that the bill to amend the Nigeria Deposit Insurance Corporation (NDIC) Act will receive an accelerated hearing to ensure efficiency in the banking system. Lawan disclosed this in Abuja on Monday at a public lecture to mark the 30th anniversary of the corporation. The Senate President […]

CBN moves to tighten regulations on Renmoney, Piggyvest, others

CBN has taken steps to increase supervision and regulation of FinTech companies such as Ren Money, Piggyvest, and others.

Stamp Duties On POS Transactions, Who Bears The Burden? -By Vincent Nwani

The Federal Government recently mandated the Central Bank of Nigeria to strictly implement Merchant Service Charge which would impose more charges on all point of sale transactions. To this end, the CBN issued a circular to banks and other stakeholders titled, ‘Review of Process for Merchants Collections on Electronic Transactions.’ Accordingly, the Nigeria Interbank Settlement […]

CBN opposes MTN over mobile banking transaction access – Similar News

CBN opposes MTN over mobile banking transaction access – Similar News | noovell CBN opposes MTN over mobile banking transaction access – Related articles from other sources More news

The True Meaning Of Foreign Reserve – Politics

Tosin Adeoti wrote this – long but worthy of a read. I found myself having to explain the concept of foreign reserves to a fellow today. It was on the news this morning that the government is looking to borrow $2.5 billion from the World Bank (the same World Bank they say gives wrong stats…a […]

‘Stronger Foreign Reserves, Economic Stability Will Boost Naira Free Float’

Lagos  – The managed-float foreign exchange system by the Central Bank of Nigeria (CBN) will continue until Nigeria experienced a combination of a strong foreign exchange reserves and economic stability. Lukman Otunuga, FXTM’s senior research analyst, disclosed this while speaking on his expectations for the country’s economy at a media session in Lagos. He said Nigeria’s […]

CBN Opposes MTN Over Mobile Banking Transaction Access

The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has kicked against MTN Nigeria’s plan to start charging its subscribers for Unstructured Supplementary Service Data access to banking services from Monday (today). The governor said this during a media briefing on the sidelines of the annual meetings of the World Bank/International Monetary Fund holding in […]

CBN opposes telcos’ plan to start charges on the use of USSD code 

The Central Bank of Nigeria (CBN) has reacted to the recent announcement by MTN Nigeria to start charging four naira (N4:00) per 20 seconds on USSD (Unstructured Supplementary Service) access to banking services from October 21. During a media briefing on the sidelines of the annual meetings of the World Bank/International Monetary Fund holding in Washington […]

CBN asks banks to switch telcos

FG tackles MTN λUK to support Nigeria’s infrastructure     Minister: $750m 1st tranche of  World Bank loan ready April   T he Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions in the country to take away their businesses from any telecommunication company that implement charges on Unstructured Supplementary Service […]

WAIFEM, Others Oppose Govs’ Push for FAC in Dollars

James Emejo in Abuja and Nume Ekeghe in Lagos  The West African Institute for Financial and Economic Management (WAIFEM) and some other industry stakeholders have kicked against the planned bid by the governors of the 36 states of the federation to demand that their shares and those of the local governments of monthly allocation from […]

CBN injects $325.56m, CNY14m into Retail SMIS

Collins Nweze The Central Bank of Nigeria (CBN) on Friday made an intervention of $325.5million in the retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short-tenored forwards segment of the inter-bank foreign  exchange (forex) market. The Director, Corporate Communications Department, Isaac Okorafor,  revealed that the intervention was for agricultural machinery and […]

Border closure has mixed impact for Nigeria’s economy

LAGOS: Two months ago, Nigeria slapped restrictions on cross-border trade with its neighbors, but there are mixed signals as to whether the controversial move is benefitting the country. On August 19, President Muhammadu Buhari dramatically closed Nigeria’s land frontiers to goods traded with Benin, Cameroon, Chad and Niger, saying its economy needed to be protected […]