payments Archives

CBN directs banks to adopt official FX rate for intra-African transactions

The Central Bank of Nigeria (CBN) has directed commercial banks to adopt the exchange rate in the importer and exporter window (I&E) for cross border payments through the Pan-African Payments

CBN: Merchants, business outlets MUST accept eNaira payments

The Central Bank of Nigeria (CBN) says the country’s first digital currency, eNaira, must be accepted as a form of payment by all merchants and business outlets. Last month, the

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Subsidy payment: NNPC to deduct N170bn from remittance to FAAC in August

The Nigerian National Petroleum Corporation (NNPC) says it will deduct N170.4 billion from July remittance to the federation account and allocation committee (FAAC) — due in August. In recent months,

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