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Banks get three-month deadline to stop forex-backed loans

The Central Bank of Nigeria on Monday stepped up its fight to boost foreign exchange liquidity in the economy with a new circular mandating Deposit Money Banks to stop the use of foreign currencies as collateral for naira loans within 90 days.

EFCC clamps down on firms for issuing invoices in dollar

EFCC clamps down on firms for issuing invoices in dollar
thenationonlineng.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationonlineng.net Daily Mail and Mail on Sunday newspapers.

Old statement used in misleading claim about currency policy in Nigeria

Nigeria’s central bank announced a raft of new policies in recent weeks aimed at strengthening the country’s currency. Several posts on social media shared a statement suggesting that the bank’s new chief, Olayemi Cardoso, had also banned the use of US dollars for domestic transactions. But the claim is misleading; AFP Fact Check found that the statement predates Cardoso by nearly a decade. Moreover, since a 2007 law, the naira has been the only legal tender for transactions in the country.

Kaduna police Command nab 8 kidnapper, armed robbers

Kaduna police Command nab 8 kidnapper, armed robbers
peoplesdailyng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from peoplesdailyng.com Daily Mail and Mail on Sunday newspapers.

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