Posts Tagged ‘central bank of Nigeria (CBN)’

Nigerians will no longer pay N50 on every POS transactions above N1,000 from Next Year – FG

by Ikokwu Ikembaon December 1, 2019
The Federal Government has reviewed its policy on stamp duty charges, levied on electronic payments. This is captured in the new proposed finance bill, presently with the Senate. The new bill ensures that the N50 stamp duty charge will now be levied on electronic payments above N10,000 as against payments above N1,000. The new bill […]

CBN sanctions UBA, GT, Access, Fidelity banks for money laundring, others

by Ikokwu Ikembaon September 25, 2019
Four major banks in the country have incurred the wrath of the Central Bank of Nigeria (CBN) and the Financial Reporting Council of Nigeria, as they have been slammed with sanctions. It was gathered that the apex bank sanctioned the banks for failure to comply with its Know-Your-Customers guidelines and the anti-money laundering requirements. The […]

Inflation dips to lowest level in almost four years

by Ikokwu Ikembaon September 17, 2019
Annual inflation in Nigeria stood at 11.02% in August, its lowest in almost four years, down from 11.08% in July, the National Bureau of Statistics said on Tuesday. Inflation has been falling steadily since May, boosting chances that the central bank could begin to loosen interest rates at its rate setting meeting next week. The […]