BAKKACIMA BLOG

  The U.S President and his administration on Friday gave their vote of confidence to Nigeria’s Ngozi Okonjo Iweala to lead the World Trade Organisation - WTO, clearing a path for her to become the organization’s first female and first African leader. The move marks another sharp split with former president Donald Trump who paralyzed the organisation and opposed the candidacy of the former Nigerian finance minister who was backed by many other countries. The US Trade Representative in a statement cited her “wealth

  The Central Bank of Nigeria - CBN, has directed Deposit Money Banks - DMBs, Other Financial Institutions - OFIs and Non-Bank Financial Institutions - NBFIs local financial institutions against having any transactions in crypto or facilitating payments for crypto exchanges. The  apex bank disclosed this today in a letter to all DMBs, OFIs and NBFIs. The regulator noted that “breaches of this directive will attract severe regulatory sanctions.” The circular signed by Director of Banking Supervision, Bello Hassan stated:” The CBN circular of January 12, 2017 ref - FPRIDIRGENT R/06/010 which DMBs, NBFIs and OFIs and members of the public on the risks associated with transactions  in crypto currency refers. “Further to other regulatory directive on the subject, the bank hereby wishes to remind regulated institutions that dealing in crypto currencies or facilitating payment from cryptocurrency exchanges is prohibited. “Accordingly, or DMBs, OFIs, NBFIs, are advised to identi...