CBN
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Business
CBN sets N100,000 daily withdrawal limit on PoS terminals, introduces other guidelines
The Central Bank of Nigeria (CBN) has set a daily withdrawal limit of N100,000 per customer on point-of-sale (PoS) terminals…
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Business
Nigeria’s inflation rate jumps to 34.6% in November, deepening hardship
Nigeria’s inflation rate surged to 34.60% in November 2024, up from 33.88% in October, signaling deepening economic hardship for the…
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Business
CBN fines banks ₦150m for facilitating illegal mint naira trade
The Central Bank of Nigeria (CBN) has announced a ₦150 million fine for Deposit Money Banks (DMBs) found guilty of…
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Business
CBN reaffirms all naira notes remain legal tender indefinitely
The Central Bank of Nigeria (CBN) has reaffirmed that all versions of the naira, including the old and new designs…
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Business
Moghalu criticizes lack of corporate governance in Nigeria’s public corporations
On Friday, December 13, 2024, Professor Kingsley Moghalu, a former presidential candidate for the Young Peoples Party (YPP), expressed concern…
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Business
CBN governor urges Nigerian youths to stay amid economic reforms
Cardoso emphasized that the CBN is working to create an environment where businesses and individuals can thrive, stressing that every…
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Business
How I collected $400,000 on behalf of Emefiele – Witness
The seventh prosecution witness, John Adetola, in the ongoing trial of ex-governor of Central Bank, Godwin Emefiele, narrated how he…
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Business
CBN raises interest rate to 27.50% in surprising move
On Tuesday, November 26, the Central Bank of Nigeria (CBN) made a big decision to raise its interest rate to…
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Business
CBN warns against fake SWIFT messages, vows to report fraudsters to law enforcement
The Central Bank of Nigeria (CBN) has issued a strong warning to the public about fraudulent individuals and organizations using…
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Business
CBN board did not recommend Naira redesign to ex-President Buhari – witness tells court
A former deputy governor of the Central Bank of Nigeria, CBN, Kingsley Obiorah, on Thursday said the board of the…
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Politics
Court orders forfeiture of $2.045m, assets linked to Emefiele
A Federal High Court in Lagos has ordered the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele,…
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Nigerian News
Emefiele’s niece, wife received funds, listed as beneficiaries – Witness
A former Secretary to the Central Bank of Nigeria (CBN), Mr John Ogah, continued his testimony on Wednesday before a…
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Business
CBN aims for $1bn monthly remittances after addressing diaspora concerns
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Saturday in Washington DC stated that having…
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Nigerian News
CBN affirms old Naira notes will remain legal tender indefinitely, dispels December 2024 deadline
The Central Bank of Nigeria (CBN), on Thursday said it does not intend to discontinue the circulation of the old…
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Business
Nigeria’s foreign exchange inflows record significant growth in H1 2024
Nigeria's economy has witnessed a substantial boost in foreign exchange inflows, with a 41.6% year-on-year increase to $47.73 billion in…
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Nigerian News
CBN reassures public of financial stability amid global economic concerns
The Central Bank of Nigeria (CBN) has once again reiterated its unwavering commitment to ensuring the stability, safety, and soundness…
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Business
CBN reaffirms authority and sets record straight, responds to misinformation about GTCO
In a robust defense of Guaranty Trust Holding Company (GTCO), the Central Bank of Nigeria (CBN) has publicly refuted false…
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Business
CBN improves oversight of Nigerian banks operating abroad
On Tuesday, October 8, 2024, the Central Bank of Nigeria (CBN) announced that it has signed Memoranda of Understanding (MoUs)…
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Nigerian News
Floating the naira was inevitable: Olayemi Cardoso
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has emphasised that the bank’s decision to float the…
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Business
CBN raises interest rate to 27.25 per cent
The Monetary Policy Committee of the Central Bank of Nigeria o tuesday voted to increase the monetary policy rate, which…
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Business
e-Transaction: CBN reduces cybersecurity levy to 0.005%
The Central Bank of Nigeria has reduced the cybersecurity levy on electronic transactions from 0.5 percent to 0.005 percent in…
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Nigerian News
CBN Governor Yemi Cardoso has not been asked to resign – Onanuga
The Presidency has dismissed a viral media report claiming President Bola Tinubu has asked Central Bank of Nigeria (CBN) Governor,…
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Business
CBN constitutes new board, appoints additional EDs for Keystone Bank
As part of the Central bank’s strategy to ensure sustained growth for the financial institution, the apex bank has reconstituted…
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Business
CBN warns that removing fuel subsidy might impact reserve growth
The Central Bank of Nigeria (CBN) has cautioned that removing the fuel subsidy, along with lower import bills and higher…
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World/Foreign News
Lebanon Ex-Central Bank chief arrested for embezzlement
Lebanon’s former central bank governor Riad Salameh was arrested Tuesday after being questioned over alleged embezzlement, a judicial official told…
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Business
More Nigerians may rely on borrowing in the next 6 months – CBN report
A report from the Central Bank of Nigeria has warned of further financial strain for Nigerians. The report noted that…
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Business
Nigeria’s external reserves decline to $36.44bn on retail dollar sales
Nigeria’s external reserves have recorded a marginal decline of 1.16 percent ($430 million) in the last two weeks since the…
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Nigerian News
Over 100 sacked CBN staff sue for ‘Wrongful Termination’
Over 100 sacked CBN staff have sued the financial institution for damages, claiming wrongful termination under Tinubu’s reorganisation strategy. The…
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Business
CBN provides reason six banks were disqualified from FX auction
The Central Bank of Nigeria says six out of 32 banks that bid for foreign currency at its recently launched…
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Business
Net FX flows increase by 55% to $25.4 billion in six months – CBN
The Central Bank of Nigeria in its ongoing commitment to support the proper functioning of the foreign exchange market by…
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Tech
CBN gives go-ahead for Providus Bank, Unity Bank merger
The Central Bank of Nigeria (CBN) has approved the merger between Providus Bank and Unity Bank. This decision, announced on…
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Nigerian News
Next-of-Kin can now claim funds – CBN
The CBN has allowed next-of-kin, legal representatives, or beneficial owners to claim unclaimed balances in dormant accounts The CBN clarified…
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Nigerian News
Account for N100bn dirty notes, SERAP asks CBN
The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Central Bank of Nigeria “over the failure to…
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Business
CBN disburses $148m to 29 authorised dealers
The Central Bank of Nigeria has disbursed $148m to 29 authorised dealers as part of steps to stabilise the foreign…
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Tech
Eyowo to make comeback as operational license gets reinstated by CBN
Eyowo, a Nigerian fintech company, has bounced back as its license was reinstated fully by the Central Bank of Nigeria…
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Business
Fidelity Bank to launch over N120bn capital raise on June 20
Fidelity Bank will launch its N127.1bn capital raise via a public offer and rights issue on June 20, 2024.
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Politics
Emefiele ignored design approved by Buhari – Former CBN director
A former Central Bank of Nigeria, CBN, Director of Currency Operations, Ahmed Umar, has disclosed that the immediate past governor,…
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Entertainment
I have over N100m in Heritage Bank – Mercy Eke cries out
Reality star Mercy Eke has issued a plea for assistance after the Central Bank of Nigeria (CBN) revoked the operating…
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Business
Cardoso: CBN to implement bold reforms for economic revival
Governor of the Central Bank of Nigeria (CBN), Mr. Olawale Cardoso, stated that the apex bank will persist in implementing…
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Business
CBN ban: Opay, Kuda issue strict guidelines for account opening
Financial technology firms Kuda Microfinance and OPay have resumed onboarding new customers following a directive from the Central Bank of…
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