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Economics, News 0 Comment

CBN to withdraw dirty notes from circulation

The Central Bank of Nigeria said it has plans to withdraw dirty notes from circulation – The apex bank noted that a large number of the N7.9 trillion pieces of naira notes in circulation were bad – CBN governor, Godwin Emefiele, is expected to launch a policy to address this problem The Central Bank of Nigeria has recognised the fact that a large portion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit for Automated…

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Business plans, Economics, Funding trends 0 Comment

CBN to Establish Collateral Management Regime to Regulate Fintech

In order to encourage innovation in the payment system, the Central Bank of Nigeria (CBN) is putting in place a Collateral Management Regime (CMR) to regulate the activities of Fintech firms and startups in the country. The Director, Payments System Management Department (PSMD), Sam Okojere, who represented the CBN Governor, Godwin Emefiele, disclosed in his keynote address at the inaugural Lagos Fintech Week in Lagos, that, “the CMR is being developed in line with on-going efforts to evolve a robust collateral…