IFC, CBN Partner to Boost Local Currency Financing in Nigeria
The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement with the...
CBN
CAC Announces 24-Hour Business Registration Portal, Urges Unregistered Businesses to Act Swiftly
Michael Nwabufo, the ambassador for the Corporate Affairs Commission (CAC), has announced a significant advancement in business...
Forex Turnover Hits $23.29bn in Six Months as CBN Reforms Boost Liquidity
Forex turnover at the official foreign exchange market has increased to $23.29bn within over six months of trading following...
CBN Outlines Regulatory Plans for Fintechs Amid Interest Rate Hike
The Central Bank of Nigeria (CBN) has clarified its regulatory stance on financial technology companies (fintechs) and...
CBN Retracts Cybersecurity Levy Directive for Financial Institutions
By: Emmanuel Ibitoye The Central Bank of Nigeria (CBN) has rescinded its directive mandating a 0.5 percent cybersecurity...
Godwin Emefiele Pleads Not Guilty, Granted N300m Bail in Alleged Naira Printing Case
Former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has entered a plea of not guilty...
PoS Agents Express Concern Over CAC’s Registration Mandate, Fear Increased Transaction Costs for Customers
Point of Sale (PoS) agents in the Federal Capital Territory (FCT) have voiced their dissatisfaction with the recent directive...
CBN Directs Banks to Charge 0.5% Cybersecurity Levy on Electronic Transfer
The Central Bank of Nigeria has ordered banks operating in the country to start charging a cybersecurity levy on...
Lagos Court Grants Cubana Chief Priest N10m Bail in Naira Abuse Case
By: Emmanuel Ibitoye The Federal High Court in Lagos State granted Pascal Okechukwu, widely known as Cubana...
Breaking: Central Bank of Nigeria Raises Interest Rate to 24.75%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has decided to increase the Monetary...
Finance Minister Links N22.7tn Printed by CBN Under Buhari to Inflation Woes
Finance Minister Wale Edun disclosed that the N22.7tn printed by the Central Bank of Nigeria (CBN) through Ways...
Deadline Passes: Most Banks Lag in NIN/Account Linkage Implementation
As the deadline for linking National Identity Numbers (NIN) to bank accounts passed last Thursday, several banks in Nigeria...
Simplified Steps to Link NIN and BVN to Your Bank Account
By: Emmanuel Ibitoye The Central Bank of Nigeria has mandated all bank customers to link their National Identification...
Unraveling Banking Bedlam: CBN’s NIN-BVN Mandate Sparks Confusion Across Nigerian Financial Landscape
By: Emmanuel Ibitoye In a seismic upheaval, Nigerian banks find themselves entangled in a web of chaos triggered...
CBN Initiates Dollar Sales to BDCs to Address Exchange Rate Distortions
By: Emmanuel Ibitoye In a significant move, the Central Bank of Nigeria (CBN) has announced the commencement of...
CBN distributes Over $300 Million to Stabilize Naira Amid Exchange Rate Challenges
The Central Bank of Nigeria (CBN) has reportedly sold over $300 million into Deposit Money Banks (DMBs) over...
Executive Order Urged to Ban Cash Dollar Transactions and Save Naira
By: Emmanuel Ibitoye Lai Omotola, the Group Managing Director of CFL Group, is urging President Bola Tinubu to issue...
CBN orders banks to stop cash payment of PTA, BTA
The Central Bank of Nigeria (CBN) will no longer allow cash for Business Travel Allowance (BTA) and Personal Travel...
IMF Warns: Nigeria’s Foreign Reserves Could Drop to $24bn
The International Monetary Fund has said Nigeria’s foreign reserves may fall to $24bn in 2024. The fund...
CBN Governor Projects Nigeria’s Inflation Rate to Decline to 21% in 2024
By: Emmanuel Ibitoye The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, delivered positive...
CBN Governor Attributes Naira Pressure to Rise in School and Medical Tourism
By: Emmanuel Ibitoye Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), highlighted that the...
CBN Governor Forecasts Decline in Inflation to 21.4% in 2024
By: Emmanuel Ibitoye The Governor of the Central Bank of Nigeria anticipates a reduction in headline inflation to...
CBN Assigns New Executives, Board of Directors for Union, Polaris and Keystone Banks
The appointments of new board members for Polaris, Union, and Keystone banks have been authorized by the Central...
Naira Plummets to N1089/$ on Official I&E Window
With a total FX turnover of $97.45 million, the naira decreased by 27.19% from its previous close of N856.57/$...
CBN Suspends Processing Fees on Large Cash Deposits
The Central Bank of Nigeria has issued a new directive to all banks, other financial institutions, and non-bank...
Non-deposit Financial Institutions to be Taken Sown From Fund Transfer Channels – NIBSS
The Nigeria Inter-Bank Settlement System has asked banks to delist Payment Solution Service Providers, Switches and Super Agents...
Court Remands ex-CBN Gov, Emefiele in Kuje Prison
The High Court sitting in the Federal Capital Territory has ordered that the former Governor of the Central...
Old Naira Notes Remain Legal Tender Indefinitely – CBN
There is no longer a timeline within which old notes will be in existence for, the Central Bank of...
Old Naira Notes Still Remain Legal Tender Beyond December 31st-CBN
The Central Bank of Nigeria (CBN) has said that the old naira notes for N200, N500 and N1000...
Naira Hits All-Time Low, Trades At N1,040 Per $1
By: JP Ashedzi Survey carried out on street traders across the country by newsmen revealed that the naira plummeted...
