Central Bank of Nigeria Blocks Fintech Startups From Accessing KYC Service— Decision Described as an Attack on All Fintechs – Regulation Bitcoin News bitcoin.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bitcoin.com Daily Mail and Mail on Sunday newspapers.
By Babajide Komolafe
The Central Bank of Nigeria (CBN) drastically reduced its liquidity mop up activities through treasury bills by 81 percent, year-on-year, y/y, to N793 billion in the first quarter of the year (Q1’21).
The apex bank, among other things, controls money supply (liquidity) in the economy by issuing or purchasing secondary market treasury bills, also known as Open Market Operations (OMO) when it wants to reduce money supply, while it injects liquidity by purchasing OMO treasury bills.
Financial Vanguard analysis of OMO auctions conducted in Q1’21 shows a sharp decline in the amounts of bills issued and sold by the CBN compared to the same period of last year (Q1’2020).
ANAN do not operate like ICAN. ANAN is quite unique among all professional accountancy body in the world by simply having the Nigerian College of Accountancy
Olumuyiwa Olowogboyega
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On Thursday the 8th of April, the Securities and Exchange Commission (SEC) of Nigeria issued a directive on the âproliferation of unregistered online investment and trading platformsâ in the country. The statement said that foreign securities should not be sold to Nigerian investors by these platforms.Â
The new directive comes at a time when investment technology companies like Bamboo, Trove and Chaka have become popular with Nigerian investors. These companies offer the opportunity to buy the shares of publicly-traded companies in the U.S.
One of the reasons their popularity has soared is because of the bull run American tech shares have enjoyed in the last year. Tesla shares, for instance, gained 774% in 2020 alone and Jumiaâs shares jumped from $3 per share in 2020 to $60 per share in February 2021.Â
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