The Slice Weekly #27: Keble Partners with Twinku to Elevate Your Financial Journey

In this issue: Nigeria Imposes Restrictions on Binance and Crypto Platforms Amidst Currency Speculation Concerns; CBN Raises Capital Requirements for BDCs, Introduces Revised Guidelines to Strengthen Oversight; Naira Exchange Rate Hits Record High Against Pound and Dollar; CBN Mandates Nigerian Customs to Adopt Form M Opening Date Exchange Rate for Import Duty Assessment; and More...

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Finance News

• The Central Bank of Nigeria (CBN) has directed the Nigerian Customs Service (NCS) to adopt the foreign exchange closing rate on the date of ‘Form M’ submission by importers for goods clearance and import duty assessment. The move aims to address the disruption caused by frequent customs duties rate changes, ensuring stability in pricing structures. Effective February 26, 2024, the Form M opening date closing rate will be used for import duty assessment, replacing previous guidelines. [Get the full gist].

• The Nigerian Naira has surged past the 2000 mark against the British Pound at the parallel market while also depreciating against the US dollar. Despite efforts by the Central Bank of Nigeria, the Naira’s decline persists, driven by heightened demand for foreign exchange and policy changes affecting oil companies. Analysts attribute the trend to businesses restocking goods and acquiring raw materials. Stay updated with The Punch Newspaper for more details. [Read the details].

• The Central Bank of Nigeria (CBN) raises capital requirements for Bureau de Change (BDC) operators, setting new guidelines to enhance regulatory oversight and combat money laundering. Tier 1 license holders now require a minimum capital of N2 billion, signaling a significant increase from previous thresholds. [Find out more].

• Nigeria imposes restrictions on Binance and other cryptocurrency platforms, stirring concerns among investors and industry experts. Despite recent regulatory shifts, the move aims to curb currency speculation activities, prompting reactions from users and industry leaders alike. [Read the details].

Events and Opportunities

• Embark on your cybersecurity journey at Get Into Cyber 1.0! This exclusive event is tailored for aspiring professionals and early-career individuals eager to navigate Nigeria’s dynamic realm of cybersecurity.[Find out more].

• Prepare for an unforgettable poetry celebration at the Naija Poetry Fest 2024! Naija Poetry Fest 2024 gathers Nigeria’s finest wordsmiths and poetry enthusiasts. Immerse yourself in a vibrant atmosphere where creativity and expression take center stage. [Get your tickets].

• Ready to mingle and create unforgettable connections? Don’t miss the Singles Party, an annual socially crafted event aimed at connecting, exploring, and creating memorable relationships! [Have a look at the event].

• Are you looking to explore educational opportunities worldwide? Take advantage of the Worldview Education Fair in Lagos, Nigeria, on February 27, 2024. [Check out the event].

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• How To Budget Like A Pro In 2024
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• The Kebe Trybe Community: Your Gateway To Financial Literacy

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