CBN
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Business
CBN introduces N100 fee for ATM withdrawals
The Central Bank of Nigeria, CBN, says it has eliminated the three free monthly withdrawals transaction fees for customers using…
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Business
CBN introduces new FX sales to BDCs
The Central Bank of Nigeria, CBN, has issued new guidelines restricting Bureau de Change, BDC, operators to purchasing foreign exchange…
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Business
Naira depreciates by 1.4% as CBN extends FX sales deadline
The naira depreciated at the official market on Monday, trading at N1,495.60 to a dollar. Data from the FMDQ Security…
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Business
Naira Strengthens Against Dollar, Trading at N1,493 Officially and N1,627 in Parallel Market
The naira gained slightly, appreciating to N1,627 against the dollar on Thursday in the parallel segment of the foreign exchange…
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Business
CBN launches FX Code as Naira strengthens against the dollar
The Central Bank of Nigeria (CBN) has unveiled the Nigeria Foreign Exchange (FX) Code on Monday, January 27, 2025, coinciding…
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Business
CBN launches new compliance department to boost financial transparency
On Thursday, January 23, 2025, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, announced the launch of…
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Business
Nigeria’s economy to grow by 4.17% in 2025, inflation to ease — CBN Governor Cardoso
On Thursday, January 23, 2025, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso shared good news for the country’s economy.…
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Business
LG autonomy: Nigerian govt directs 774 councils to open account with CBN
The 774 local government areas in Nigeria have been mandated to open dedicated accounts with the Central Bank of Nigeria,…
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Business
CBN sanctions 9 banks for failing to dispense cash via ATMs
The Central Bank of Nigeria, CBN, says it has sanctioned some Deposit Money Banks, DMBs, for failing to make Naira…
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Nigerian News
Alleged abuse of office: Court dismisses EFCC’s charges against Emefiele, strikes out application challenging jurisdiction
An Ikeja Special Offences Court on Wednesday dismissed counts one to four of the charges filed by the Economic and…
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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 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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