CBN Seeks Easier Cross-Border Payments Between Nigeria, China
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) is exploring ways to improve cross-border payments and banking connections between Nigeria and China following concerns raised by businesses over financial transactions between the two countries. CBN Governor, Olayemi Cardoso, stated this at a business and financial roundtable in Beijing, where Nigerian and Chinese business leaders […]
NDIC Warns Against Unlicensed Money Schemes
By Oluwakemi Kindness The Nigeria Deposit Insurance Corporation (NDIC) has warned Nigerians against keeping their money in unlicensed financial schemes, particularly those offering unrealistic returns. The Corporation said the collapse of Ponzi schemes has repeatedly exposed Nigerians to significant financial losses from entrusting their savings to unregulated operators. The Managing Director/Chief Executive of the NDIC, […]
CBN Makes Terrorism Financing Supervision a Priority
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has made the supervision of terrorism financing risks a priority as part of efforts to prevent the country’s financial system from being exploited by illicit actors. The apex bank said its supervisory activities would focus on how financial institutions identify, assess and manage terrorism financing risks, […]