Public institutions in Nigeria have a knack for policy inconsistency. They can aggressively pursue a course of action one moment and, the very next, introduce measures that directly contradict their stated objectives. The Central Bank of Nigeria (CBN) is currently at the centre of one such paradox. Everyone alive in the last couple of years witnessed the CBN champion financial …

The Central Bank of Nigeria has announced that Nigerians withdrawing less than N20,000 from another bank’s Automated Teller Machine will still be charged a fee of N100 per transaction. This is according to a FAQ document published by the apex bank on its website on Thursday, which provides further information on a new CBN’s directive. The directive is part of …