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Top World Politics Topics

World roundup: February 3-4 2024

Foreign Exchanges • 786 implied HN points • 05 Feb 24
🌍 World Politics Middle East Israel-Palestine Yemen Asia Pakistan Philippines Africa Nigeria Europe Russia Ukraine Americas United States
  1. The United States conducted airstrikes on Iranian-linked targets in Iraq and Syria, resulting in casualties and tension with the governments of those countries.
  2. In the Israel-Palestine conflict, Hamas is considering a ceasefire proposal while the Israeli military expands its operations in Gaza.
  3. President Macky Sall of Senegal postponed the country's presidential election, sparking protests and concerns about a potential self coup.
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Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/LAB/016/027

RegAlert • 0 implied HN points • 03 Feb 24
💰 Finance Banking Regulations Nigeria
  1. Central Bank of Nigeria is updating the Cash Reserve Requirement (CRR) mechanism for banks, with changes like no longer having daily CRR debits and specific ratios for different types of banks.
  2. Commercial banks will have a 32.5% ratio and merchant banks 10% applied to increases in their weekly average adjusted deposits.
  3. Banks not meeting the minimum Loan to Deposit Ratio (LDR) will face a 50% CRR levy on the lending shortfall.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/010

RegAlert • 0 implied HN points • 06 Oct 23
💰 Finance Regulatory Banking Nigeria
  1. The Central Bank of Nigeria has appointed three additional designated banks for the collection of fees under the Nigerian Export Supervision Scheme (NESS). Authorized dealers are instructed to inform their exporting customers about this change.
  2. The appointment of designated banks signifies a shift in the process for collection of fees under the NESS, bringing more clarity and convenience for exporting customers.
  3. This circular, TED/FEM/PUB/FPC/001/010, outlines an important update regarding the collection of fees, emphasizing the need for all involved parties to be informed and compliant with the changes.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/049

RegAlert • 0 implied HN points • 31 Jul 23
💰 Finance Banking Regulations Nigeria
  1. Microfinance banks and primary mortgage banks in Nigeria are exempted from paying processing fees for withdrawals above cash withdrawal limits from correspondent banks.
  2. The exemption is meant to support these banks in providing specialized retail banking services to the economically active poor.
  3. While exempt from processing fees, these banks still need to comply with the cash withdrawal limits set in an earlier circular by the Central Bank of Nigeria.

Alert: Central Bank of Nigeria Circular OFI/DOA/CON/ACT/004/155

RegAlert • 0 implied HN points • 29 Jun 22
💰 Finance Regulation Cybersecurity Compliance Banking Nigeria
  1. The Central Bank of Nigeria issued a circular requiring other financial institutions in Nigeria to enhance their cybersecurity defenses and adhere to the provided Risk-Based Cybersecurity Framework and Guidelines by January 1, 2023.
  2. This circular emphasizes the importance of strengthening cyber defenses in financial institutions to mitigate risks and ensure a more secure environment against cyber threats.
  3. Compliance with the Risk-Based Cybersecurity Framework and Guidelines is crucial for OFIs in Nigeria to safeguard their systems and data from cyber vulnerabilities.

Ode to Nigeria: Naija on Gbanjo

libraryofthought • 0 implied HN points • 27 Dec 23
📚 Literature Poetry Nigeria Culture
  1. The poem reflects on the challenges faced by Nigeria from the perspective of Nigerian Pidgin Poetry.
  2. It discusses themes of struggle, hope, coping with difficulties, and the concept of 'blessing the hustle'.
  3. The poem highlights the issues of poverty, political corruption, and the longing for a better future for Nigeria.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/024

RegAlert • 0 implied HN points • 13 Oct 21
💰 Finance Regulation Banking Nigeria
  1. The Central Bank of Nigeria issued guidelines on the disposal of Non-Permissible Income (NPI) by Non-Interest Financial Institutions (NIHs) in Nigeria.
  2. All NIHs in Nigeria are required to comply with the guidelines set forth by the Central Bank on the disposal of Non-Permissible Income (NPI).
  3. These guidelines for disposing of Non-Permissible Income (NPI) by Non-Interest Financial Institutions (NIHs) are effective from October 13, 2021, and are accessible on the Central Bank's website.

Alert: Central Bank of Nigeria Circular OFI/DOA/LTT/CON/002/138

RegAlert • 0 implied HN points • 08 Oct 21
💰 Finance Regulatory Compliance Central Bank Financial Institutions Nigeria
  1. All Other Financial Institutions in Nigeria must prepare their annual financial statements according to International Financial Reporting Standards (IFRS) starting from the 2021 financial year.
  2. The Central Bank of Nigeria will no longer accept financial statements that do not comply with IFRS, and non-compliance will lead to penalties.
  3. OFIs adopting IFRS for the first time must follow IFRS 1 for first-time adopters to ensure compliance.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/026

RegAlert • 0 implied HN points • 30 Sep 21
💰 Finance Banking Regulations Nigeria
  1. Financial institutions should take note of the list of deposit money banks provided in the circular, categorized by their banking licenses and addresses.
  2. The circular from the Central Bank of Nigeria includes information on international, national, and regional deposit money banks as of September 30, 2021.
  3. The circular can be downloaded from the Central Bank of Nigeria website for further reference.

Alert: Central Bank of Nigeria Circular FPR/LAD/INT/BDC/01/095

RegAlert • 0 implied HN points • 29 Jul 21
💰 Finance Regulation Banking Nigeria
  1. Financial institutions in Nigeria are required to refund capital deposits and licensing fees to promoters with pending Bureaux de Change (BDC) license applications.
  2. BDC promoters must provide written requests along with necessary documents for the refund, including the telex copy of the capital deposit, account details, and bank draft/telex for licensing fees.
  3. Deposit Money Banks in Nigeria should cease accepting instructions to transfer capital deposits for BDC license applications as per the recent directive from the Central Bank of Nigeria (CBN).

Alert: Central Bank of Nigeria Circular PSM/DIR/CON/INM/011/008

RegAlert • 0 implied HN points • 28 May 21
💰 Finance Regulations Banking Nigeria
  1. The Central Bank of Nigeria has released a Regulatory Framework for Non-Bank Merchant Acquiring in Nigeria, setting rules and standards for services.
  2. Various stakeholders, including banks and financial institutions, must adhere to this framework and other related regulations.
  3. Continuous monitoring and guidance will be provided by the Central Bank to ensure compliance.

Alert: Central Bank of Nigeria Circular FPRD/DIR/PUB/CIR/01/002

RegAlert • 0 implied HN points • 09 Apr 21
💰 Finance Regulation Banking Nigeria
  1. Financial institutions in Nigeria must enroll in the CRMS and report credit facilities monthly, tagging credit files of borrowers with BVN and TIN by May 14, 2021. Non-compliance could lead to sanctions.
  2. Development Finance Institutions (DFIs), Microfinance Banks (MFBs), Primary Mortgage Banks (PMBs), and Finance Companies (FCs) are among the institutions required to enroll in the CRMS.
  3. The Circular FPRD/DIR/PUB/CIR/01/002 issued by the Central Bank of Nigeria provides details on the enrollment process and requirements for financial institutions.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/042

RegAlert • 0 implied HN points • 28 Mar 22
💰 Finance Regulation Banking Nigeria
  1. The Central Bank of Nigeria has developed guidelines to regulate credit guarantee companies in Nigeria to promote lending to Micro, Small, and Medium Enterprises (MSMEs).
  2. The guidelines specify the minimum licensing, governance, and prudential requirements for credit guarantee companies operating in Nigeria.
  3. These guidelines aim to encourage the operation of credit guarantee companies in Nigeria while ensuring adherence to regulatory expectations.