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The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. [3] The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort ...
The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar. This rate is almost two times different from the illegal black market exchange rate. The Black-Market exchange rate of the naira to the U.S. dollar is approximately ₦752.50 per 1 US dollar.
The history of Nigerian naira notes dates back to the introduction of the currency on 1 January 1973. The Central Bank of Nigeria (CBN) is responsible for issuing and regulating the circulation of Naira notes. The initial series of notes featured iconic Nigerian symbols and leaders. [1] [2] [3]
Economist. banker. Website. godwinemefiele.com. Godwin Ifeanyi Emefiele CFR (born 4 August 1961) is a Nigerian politician, [2][3] economist and banker who served as governor of the Central Bank of Nigeria from 4 June 2014 [4] until his suspension by President Bola Tinubu, on 9 June 2023. [5][6]
The African Central Bank (ACB) is one of the original five financial institutions and specialized agencies of the African Union. Over time, it will take over responsibilities of the African Monetary Fund. When it is fully implemented, the ACB will be the sole issuer of the African single currency (the " Afro " or " Afriq ") and/or working along ...
eNaira is a Central bank digital currency issued and regulated by the Central Bank of Nigeria. [1] It was the first of its type in Africa. [2] Denominated in naira, the eNaira serves as both a medium of exchange and a store of value and claims to offer better payment prospects in retail transactions when compared to cash. [3][4][5]
This is a list of commercial bank with International Authorization in Nigeria, arranged alphabetically: [1] Access Bank Plc. Fidelity Bank Plc. First City Monument Bank Limited. First Bank of Nigeria Limited. Guaranty Trust Holding Company Plc. Union Bank of Nigeria Plc. United Bank for Africa Plc. Zenith Bank Plc.
Born. (1932-04-24) 24 April 1932 (age 92) Abayi, Southern Region, British Nigeria (now Abia State, Nigeria) Dr. Paul Agbai Ogwuma (born 24 April 1932) is a Nigerian banker who was Governor of the Central Bank of Nigeria between 1993 and 1999 during the military regime of General Sani Abacha and his successor General Abdulsalami Abubakar.