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CBN issues modalities for payout of diaspora remittances in dollars

The Central Bank of Nigeria (CBN) has issued a circular setting out the Modalities for Payout of Diaspora Remittances. The apex bank has frowned at activities of some International Money Transfer Operators (IMTOs) and unlicensed companies who continue…
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VAT Revenue Grew By 29.3% To ₦1.53 Trillion In 2020 – NBS

The Nigerian government generated a total sum of 1.53 trillion naira revenue from Value Added Tax (VAT) in 2020, up by 29.3% when compared to 1.18 trillion naira recorded in 2019. This is according to the Sectoral value-added…
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BREAKING: CBN bans Nigerians from buying, selling bitcoin, other cryptos

Central Bank of Nigeria has ordered banks and other financial institutions to close customer accounts used in trading cryptocurrencies and other related transactions. In a circular seen circulating on social media on Friday afternoon, the Nigerian bank regulator ordered…
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