Circulars Archives - Nairametrics https://nairametrics.com/category/economy/circulars/ Destination for Business news and analysis from Africa's largest economy Fri, 09 Aug 2024 07:55:12 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Circulars Archives - Nairametrics https://nairametrics.com/category/economy/circulars/ 32 32 201037849 New CBN circular clarifies existing rule on certificate of capital importation for forex repatriation, divestment  https://nairametrics.com/2024/08/09/new-cbn-circular-clarifies-existing-rule-on-certificate-of-capital-importation-for-forex-repatriation-divestment/ https://nairametrics.com/2024/08/09/new-cbn-circular-clarifies-existing-rule-on-certificate-of-capital-importation-for-forex-repatriation-divestment/#respond Fri, 09 Aug 2024 07:55:12 +0000 https://nairametrics.com/?p=495506 The Central Bank of Nigeria (CBN) has issued a clarification on the requirements for divestments and repatriation of foreign investments related to the Certificate of Capital Importation (CCI). 

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]]> https://nairametrics.com/2024/08/09/new-cbn-circular-clarifies-existing-rule-on-certificate-of-capital-importation-for-forex-repatriation-divestment/feed/ 0 495506 FG to sell $500 million dollar-denominated bonds, targets 200% subscription  https://nairametrics.com/2024/08/07/fg-to-sell-500-million-dollar-denominated-bonds-targets-200-subscription/ https://nairametrics.com/2024/08/07/fg-to-sell-500-million-dollar-denominated-bonds-targets-200-subscription/#respond Wed, 07 Aug 2024 05:30:23 +0000 https://nairametrics.com/?p=495364 The Federal Government of Nigeria has launched its Series I Domestic USD Bond, as it hopes to raise at least $500 million from local and international investors. 

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]]> https://nairametrics.com/2024/08/07/fg-to-sell-500-million-dollar-denominated-bonds-targets-200-subscription/feed/ 0 495364 CBN to sell $20,000 to each BDC at N1,450/$1  https://nairametrics.com/2024/07/18/cbn-to-sell-20000-to-each-bdc-at-n1450-1/ https://nairametrics.com/2024/07/18/cbn-to-sell-20000-to-each-bdc-at-n1450-1/#respond Thu, 18 Jul 2024 12:45:14 +0000 https://nairametrics.com/?p=493748 The Central Bank of Nigeria (CBN) has announced the approval of the sales of FX to eligible Bureau De Change (BDCs) to meet the demand for invisible transactions. 

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]]> https://nairametrics.com/2024/07/18/cbn-to-sell-20000-to-each-bdc-at-n1450-1/feed/ 0 493748 SEC declares crypto firms, others operating without office in Nigeria illegal in new onboarding framework  https://nairametrics.com/2024/07/04/sec-declares-crypto-firms-others-operating-without-office-in-nigeria-illegal-in-new-onboarding-framework/ https://nairametrics.com/2024/07/04/sec-declares-crypto-firms-others-operating-without-office-in-nigeria-illegal-in-new-onboarding-framework/#respond Thu, 04 Jul 2024 07:12:07 +0000 https://nairametrics.com/?p=492498 SEC mandates all VASPs, including crypto firms, to establish an office in Nigeria under its Accelerated Regulatory Incubation Programme (ARIP). 

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]]> https://nairametrics.com/2024/07/04/sec-declares-crypto-firms-others-operating-without-office-in-nigeria-illegal-in-new-onboarding-framework/feed/ 0 492498 New Circular: Banks to deposit “excess forex” in Lagos, Abuja branches of CBN  https://nairametrics.com/2024/06/29/new-circular-banks-to-deposit-excess-forex-in-lagos-abuja-branches-of-cbn/ https://nairametrics.com/2024/06/29/new-circular-banks-to-deposit-excess-forex-in-lagos-abuja-branches-of-cbn/#respond Sat, 29 Jun 2024 06:57:25 +0000 https://nairametrics.com/?p=492221 The Central Bank of Nigeria (CBN) has introduced revised guidelines to allow Deposit Money Banks (DMBs) to deposit excess foreign currency notes at its branches in Lagos and Abuja in order to credit their offshore accounts with correspondent banks. 

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]]> https://nairametrics.com/2024/06/29/new-circular-banks-to-deposit-excess-forex-in-lagos-abuja-branches-of-cbn/feed/ 0 492221 New CBN circular permits IMTOs to sell FX directly on Nigeria’s official window  https://nairametrics.com/2024/06/25/new-cbn-circular-permits-imtos-to-sell-fx-directly-on-nigerias-official-window/ https://nairametrics.com/2024/06/25/new-cbn-circular-permits-imtos-to-sell-fx-directly-on-nigerias-official-window/#respond Tue, 25 Jun 2024 13:49:42 +0000 https://nairametrics.com/?p=491976 The Central Bank of Nigeria (CBN) has permitted eligible International Money Transfer Operators (IMTOs) to sell foreign exchange (FX) on Nigeria's official window. 

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]]> https://nairametrics.com/2024/06/25/new-cbn-circular-permits-imtos-to-sell-fx-directly-on-nigerias-official-window/feed/ 0 491976 Shoprite to close Abuja Mall by June 30, blame business climate   https://nairametrics.com/2024/06/24/shoprite-to-close-abuja-mall-by-june-30-blame-business-climate/ https://nairametrics.com/2024/06/24/shoprite-to-close-abuja-mall-by-june-30-blame-business-climate/#comments Mon, 24 Jun 2024 18:10:35 +0000 https://nairametrics.com/?p=491917 Retail Supermarkets Nig Limited operators of Shoprite Mall announced that it will cease operations at its Wuse, Abuja branch on June 30, 2024. 

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]]> https://nairametrics.com/2024/06/24/shoprite-to-close-abuja-mall-by-june-30-blame-business-climate/feed/ 1 491917 CBN withdraws circular on cybersecurity levy https://nairametrics.com/2024/05/19/cbn-withdraws-circular-on-cybersecurity-levy/ https://nairametrics.com/2024/05/19/cbn-withdraws-circular-on-cybersecurity-levy/#respond Sun, 19 May 2024 22:19:09 +0000 https://nairametrics.com/?p=489395 The Central Bank of Nigeria (CBN) has withdrawn its circular mandating banks and payment service providers to collect and remit the cybersecurity levy as proposed in the Cybercrime Prevention and Prohibition Amendment Act of 2024.

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]]> https://nairametrics.com/2024/05/19/cbn-withdraws-circular-on-cybersecurity-levy/feed/ 0 489395 CBN to increase BDC minimum share capital to N2 billion for Tier 1 license https://nairametrics.com/2024/02/23/cbn-to-increase-bdc-minimum-share-capital-to-n2-billion-for-tier-1-license/ https://nairametrics.com/2024/02/23/cbn-to-increase-bdc-minimum-share-capital-to-n2-billion-for-tier-1-license/#respond Fri, 23 Feb 2024 20:01:15 +0000 https://nairametrics.com/?p=480758 The Central Bank of Nigeria (CBN) is mulling an increase in the share capital of Bureau De Change (BDC) operators to N2 billion and N500 million for Tier 1 and Tier 2 licenses.

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]]> https://nairametrics.com/2024/02/23/cbn-to-increase-bdc-minimum-share-capital-to-n2-billion-for-tier-1-license/feed/ 0 480758 Reps propose jail term for salary-owing employers in Nigeria  https://nairametrics.com/2023/12/29/reps-propose-jail-term-for-salary-owing-employers-in-nigeria/ https://nairametrics.com/2023/12/29/reps-propose-jail-term-for-salary-owing-employers-in-nigeria/#respond Fri, 29 Dec 2023 13:49:24 +0000 https://nairametrics.com/?p=475997 House of Reps proposed a Bill to make it illegal for employers and corporate entities to delay or fail to pay their employees' salaries. 

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]]> https://nairametrics.com/2023/12/29/reps-propose-jail-term-for-salary-owing-employers-in-nigeria/feed/ 0 475997 CBN orders financial institutions to display their government registered names on all their online platforms  https://nairametrics.com/2023/12/13/cbn-orders-financial-institutions-to-display-their-government-registered-names-on-all-their-online-platforms/ https://nairametrics.com/2023/12/13/cbn-orders-financial-institutions-to-display-their-government-registered-names-on-all-their-online-platforms/#comments Wed, 13 Dec 2023 17:21:17 +0000 https://nairametrics.com/?p=474688 Essentially, the circular requires that every registered financial institution in Nigeria legibly display its legal name on all its online business platforms.

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]]> https://nairametrics.com/2023/12/13/cbn-orders-financial-institutions-to-display-their-government-registered-names-on-all-their-online-platforms/feed/ 1 474688 Yemi Cardoso assumes duty as acting CBN Governor  https://nairametrics.com/2023/09/22/yemi-cardoso-assumes-duty-as-acting-cbn-governor/ https://nairametrics.com/2023/09/22/yemi-cardoso-assumes-duty-as-acting-cbn-governor/#comments Fri, 22 Sep 2023 13:58:07 +0000 https://nairametrics.com/?p=466247 Dr. Yemi Cardoso has assumed duty as Acting Governor of the Central Bank of Nigeria. This was disclosed via a press release by the apex bank. 

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]]> https://nairametrics.com/2023/09/22/yemi-cardoso-assumes-duty-as-acting-cbn-governor/feed/ 2 466247 CBN unveils new online platform for MFB licensing  https://nairametrics.com/2023/09/20/cbn-unveils-new-online-platform-for-mfb-licensing/ https://nairametrics.com/2023/09/20/cbn-unveils-new-online-platform-for-mfb-licensing/#respond Wed, 20 Sep 2023 17:33:43 +0000 https://nairametrics.com/?p=466072 The Central Bank of Nigeria (CBN) has unveiled a new online platform for the submission of microfinance bank (MFB) license applications. 

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]]> https://nairametrics.com/2023/09/20/cbn-unveils-new-online-platform-for-mfb-licensing/feed/ 0 466072 CBN makes Social Media Handle mandatory KYC requirements for bank customers https://nairametrics.com/2023/06/23/cbn-makes-social-media-handle-mandatory-kyc-requirements-for-bank-customers/ https://nairametrics.com/2023/06/23/cbn-makes-social-media-handle-mandatory-kyc-requirements-for-bank-customers/#comments Fri, 23 Jun 2023 21:42:13 +0000 https://nairametrics.com/?p=456668 Central Bank of Nigeria released its customer due diligence regulation 2023 and includes social media handle as mandatory KYC requirement.

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]]> https://nairametrics.com/2023/06/23/cbn-makes-social-media-handle-mandatory-kyc-requirements-for-bank-customers/feed/ 15 456668 Naira Redesign: CBN launches cash swap scheme for rural communities https://nairametrics.com/2023/01/21/naira-redesign-cbn-launches-cash-swap-scheme-for-rural-communities/ https://nairametrics.com/2023/01/21/naira-redesign-cbn-launches-cash-swap-scheme-for-rural-communities/#respond Sat, 21 Jan 2023 04:10:53 +0000 https://nairametrics.com/?p=432547 CBN said agents shall exchange a maximum of N10,000 per person.

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]]> https://nairametrics.com/2023/01/21/naira-redesign-cbn-launches-cash-swap-scheme-for-rural-communities/feed/ 0 432547 COVID-19: FG to screen visitors to Nigeria with Rapid Diagnostic Test as cases rise in China https://nairametrics.com/2023/01/10/covid-19-fg-to-screen-vistors-to-nigeria-with-rapid-diagnostic-test-as-cases-rise-in-china/ https://nairametrics.com/2023/01/10/covid-19-fg-to-screen-vistors-to-nigeria-with-rapid-diagnostic-test-as-cases-rise-in-china/#respond Tue, 10 Jan 2023 04:25:12 +0000 https://nairametrics.com/?p=430943 The Nigerian Government revealed that positive cases would be quarantined and all negative cases would be monitored.

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]]> https://nairametrics.com/2023/01/10/covid-19-fg-to-screen-vistors-to-nigeria-with-rapid-diagnostic-test-as-cases-rise-in-china/feed/ 0 430943 CBN stops access to discount window on auction days https://nairametrics.com/2022/10/08/cbn-stops-access-to-discount-window-on-auction-days/ https://nairametrics.com/2022/10/08/cbn-stops-access-to-discount-window-on-auction-days/#respond Sat, 08 Oct 2022 08:05:26 +0000 https://nairametrics.com/?p=414502  The Central Bank of Nigeria (CBN) has placed restrictions on market participants from accessing the CBN’s discount window on auction days.    This was disclosed in a circular seen by Nairametrics titled “ACCESS TO THE DISCOUNT WINDOW” signed by Angela Sere-Ejembi Director of the Financial Markets Department of the CBN.    CBN has previously instructed Deposit Money […]

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]]> https://nairametrics.com/2022/10/08/cbn-stops-access-to-discount-window-on-auction-days/feed/ 0 414502 Shell Nigeria is inviting students to apply for its Industrial Training Programme 2022 https://nairametrics.com/2022/10/02/shell-nigeria-is-inviting-students-to-apply-for-its-industrial-training-programme-2022/ https://nairametrics.com/2022/10/02/shell-nigeria-is-inviting-students-to-apply-for-its-industrial-training-programme-2022/#comments Sun, 02 Oct 2022 07:54:10 +0000 https://nairametrics.com/?p=412893 The industrial training will provide students who are studying in any of the departments listed, the opportunity to work directly with inspiring and experienced professionals

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]]> https://nairametrics.com/2022/10/02/shell-nigeria-is-inviting-students-to-apply-for-its-industrial-training-programme-2022/feed/ 1 412893 CBN increases minimum bid for Non-Interest Asset-Backed Securities from N1million to N100million https://nairametrics.com/2022/06/13/cbn-increases-minimum-bid-for-non-interest-asset-backed-securities-from-n1million-to-n100million/ https://nairametrics.com/2022/06/13/cbn-increases-minimum-bid-for-non-interest-asset-backed-securities-from-n1million-to-n100million/#comments Mon, 13 Jun 2022 11:40:22 +0000 https://nairametrics.com/?p=394442 The CBN has increased the minimum bid for non-interest asset-backed securities to N100,000,000 from N1,000,000...

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]]> https://nairametrics.com/2022/06/13/cbn-increases-minimum-bid-for-non-interest-asset-backed-securities-from-n1million-to-n100million/feed/ 1 394442 CBN raises online transfer limit to N25 million and N250million for individuals and companies respectively https://nairametrics.com/2022/06/03/cbn-raises-online-transfer-limit-to-n25-million-and-n250million-for-individuals-and-companies-respectively/ https://nairametrics.com/2022/06/03/cbn-raises-online-transfer-limit-to-n25-million-and-n250million-for-individuals-and-companies-respectively/#respond Fri, 03 Jun 2022 09:22:16 +0000 https://nairametrics.com/?p=392724 This revision would take effect on the operations of the NIBSS Instant Payments System and other Electronic Payment Options with Similar Features in Nigeria.

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]]> https://nairametrics.com/2022/06/03/cbn-raises-online-transfer-limit-to-n25-million-and-n250million-for-individuals-and-companies-respectively/feed/ 0 392724