The Naira, on Wednesday, appreciated to N490 per dollar, as the Central Bank of Nigeria (CBN) commenced sale of dollars to Bureaux de Changes (BDCs).

The Central Bank of Nigeria (CBN) on Tuesday banned the commercial banks operating in Nigeria against the use of virtual currencies, including bitcoin, ripples, litecoin.

The Central Bank of Nigeria (CBN) has dismissed speculations that the bank would reintroduce a mandatory deposit of N35 million for all Bureau de change (BDC) operators.

Worried by the multiple exchange rates in the country, the Central Bank of Nigeria (CBN) will be meeting with bureau de change (BDC) operators in Abuja to address the issue.

Nigeria’s prevailing economic recession has forced the Central Bank of Nigeria (CBN) to suspend printing of small naira denominations for about a year, leading to the scarcity of the notes in the economy, sources at the apex bank have disclosed.

Nigeria plans to sell N95 billion (302 million dollars) worth of bonds on Dec. 14, its last debt auction for the year, the Debt Management Office (DMO) said on Tuesday.

*Denies Investing N100bn In Russian Ponzi Scheme
The Central Bank of Nigeria (CBN) has denied reports making rounds in the media, that it approved operation of the Mavrodi Mondial Movement, popularly known as MMM in Nigeria.

The Senate, on Tuesday, asked its committee on Banking, Insurance and other financial institutions to investigate officials of the Central Bank of Nigeria, CBN and commercial banks over sales of naira notes to illegal peddlers.Adopting the motion tagged, “urgent need to end the illicit trade in freshly minted Naira notes” sponsored by Senator Mao Ohuabunwa (PDP, Abia North), the Senate said a huge illicit industry has been built around trading on freshly minted Naira notes.

Following speculations that Heritage Bank was under financial distress, the Central Bank of Nigeria (CBN) on Tuesday, reassured the public that the bank is safe.

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