Nigerians may have to adapt to a more effective digital payment solution for all transactions in the face of the new Central Bank regulations. Lois Ogunniyi of GuardianTV spoke with Omoniyi Kolade, the founder of Seerbit, a digital payment solutions provider who gave insights into how the new policy works and more.
The Central Bank of Nigeria (CBN) has imposed limits on cash withdrawals from automatic teller machines (ATMs) by individuals and corporate entities in a bid to boost digital payments. Guardian TV takes a look at Five things you need to know about the CBN's new cash policy.
The CBN governor, Godwin Emefiele, said the decision was prompted by concerns with the management of the current series of banknotes, the increasing risk of naira counterfeiting as well as the persistent large-scale hoarding of the naira which has resulted in a worrisome situation where over 80 percent of the currency in circulation is outside the banking system.
14 Sep 2021
New regulation requirements by the Central Bank of Nigeria (CBN) could make it difficult for some fintech companies to operate. In a draft policy document, CBN recognized products by fintech companies are “gaining acceptance” but argued their emergence would heighten existing risks in the financial system.
26 Jun 2021
Former Deputy Governor, Central Bank of Nigeria (CBN), Prof. Kingsley Muoghalu has challenged Nigerians to hold their leaders accountable to be able to get the best out of politics.
15 Jun 2021
The House of Representatives has urged the Central Bank of Nigeria to put proper measures in place to aid stability of naira.
15 May 2021
CBN eyes increased private sector investments in healthcare infrastructure
28 Apr 2021
The Central Bank of Nigeria has advised students in Nigerian Universities to take full advantage of its credit interventions and build their business ideas.
26 Mar 2021
Here are a few reasons to pick up a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on Saturday.
26 Mar 2021
Despite a severe shortage of foreign exchange (forex), overseas education continues to drain the country’s resources, as Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, admitted $80 million weekly disbursements for personal travel allowances or payment of overseas school fees. The amount, which translates to $960 million yearly, is disbursed to banks to enable Nigerians to meet their forex responsibilities. This is after a recent report indicated that Nigerians spend £30 million (about N20 billion) yearly paying tuition in the United Kingdom alone while the country’s education system grapples with challenges of underfunding, poor remuneration, and obsolete teaching facilities.
25 Mar 2021
Here are a few reasons to pick up a copy of The Guardian on Friday. Find these stories and much more when you grab a copy of The Guardian on Friday.
10 Mar 2021
Bayelsa empowerment: CBN clears the air on N3BN agric loan