Tuesday, November 20, 2018

Tag "banks"

    70m Nigerians excluded from banking sector, says IMF

70m Nigerians excluded from banking sector, says IMF

The International Monetary Fund (IMF) says 40 percent of Nigeria’s 180 million citizens are excluded from conventional banking, with only 36 percent covered by the formal banking sector.IMF adds that another 12 percent of the population use informal banking modes to safe their monies, while another 12 percent use neither the semi-formal banks.“It is the topic for policymakers in almost [...]

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    Banks resume collection of cash deposits in dom accounts

Banks resume collection of cash deposits in dom accounts

Commercial banks in Nigeria have started accepting cash deposits of foreign exchange from their customers.In August 2015, the Central Bank of Nigeria (CBN) banned the payment of cash into domiciliary accounts, "following recent statements by individual banks suspending the payment of foreign currencies into domiciliary accounts".It said it was part of its "continued efforts to stop illicit financial flows in the [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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