Tag: CBN
CBN shocks critics with $6.83bn Surplus: Nigeria’s economy roars back
“International Money Transfer Operator inflows surged by 43.5 per cent to 4.73 billion dollars, up from 3.30 billion dollars in…
$23bn net foreign exchange reserves ‘ll stablise exchange rate- Uwaleke
The CBN recently revealed that the NFER stood at 23.11 billion dollars at the end of 2024, their highest level…
CBN: Nigeria’s net reserve increased to $23bn in 2024
While revealing this in a statement on Tuesday, the CBN said the $23.11 billion NER was the highest level in…
NGX, CBN empower students with financial skills
This initiative formed part of the 2025 Global Money Week celebration, aimed at promoting financial awareness among young people globally.
Restructuring: CBN appoints 16 new directors
The appointment of directors to head key departments came following internal advertisement published in September 2024 to fill strategic departments…
Customers groan as banks begin implementation new ATM fees
"Off-site ATMs: A charge of N100 plus a surcharge of not more than N500 per N20,000 withdrawal."
CBN frustrating our probe of use of N30 trillion Ways and Means – Senate
The N30 trillion Ways and Means facility was allegedly granted to the federal government between 2015 and 2023. The Committee…
How CBN’s interventions stabilised FX market, Naira – Expert
Oyalowo said the interventions have helped to stabilise the Foreign Exchange (FX) market and the naira, in a statement he…
CBN dragged to court over ATM fee hike
AN ORDER restraining the Defendant, including its agents, assigns, privies and or representatives or such other persons acting on its…
MPC meeting: CBN retains all monetary policy parameters
The committee also voted to retain the Cash Reserve Ratio (CRR) at 50 per cent for Deposit Money Banks and…
CBN given 48 hours to withdraw ATM transaction fees’ hike
"If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and…
CBN vows to crack down on banks imposing withdrawal limits below N20,000 per transaction
“Any bank that compels a customer with sufficient funds in her account to withdraw less than N20,000 per transaction against…
CBN slaps Nigerians with higher ATM charges, scraps free withdrawals
However, customers withdrawing from ATMs located at bank branches will now be charged ₦100 per ₦20,000 withdrawn.
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
Olayemi Cardoso: The Governor they call the Headmaster
To ensure the proper functioning of domestic and foreign currency markets, clear, transparent, and harmonised rules governing market operations are…
CBN approves listing of CFA on NXP forms for export repatriation proceed
Mrs Nonye Ayeni, Executive Director of the NEPC, disclosed this while addressing newsmen on the Non-Oil Export Performance for the…
Central Bank of Nigeria drops hammer on nine banks
Sidi-Ali said that each of the banks was fined N150 million for non-compliance, in line with the CBN’s cash distribution…
CBN’s mass sack scandal: Staff sue for reinstatement, N30bn damages
The staff, who are represented by Okwudili Abanum in a class action lawsuit, are seeking a declaration that their dismissal…
FCMB Group completes public offer, raises ₦147.5bn with 33% oversubscription
Regulatory approvals have also been received to downstream the net proceeds of the public offer from the holding company to…
CBN shuts down rumours: Old Naira notes stay in circulation indefinitely
In addition, the central bank recommended the adoption of alternative payment methods, such as electronic channels, to ease the pressure…
Lamentations as cash scarcity hits Kaduna, Kano, Katsina
In Kaduna city, some Point of Sale (POS) vendors have lamented the unbecoming and unnecessary cash shortage as banks were…
CBN directs banks to take measures to end cash scarcity
The CBN directive is coming in the midst of complaints of acute scarcity of cash by bank customers across the…
CBN restructures: 1,000 staff set for retirement in N50 billion shakeup
At least 860 staff members have already applied for the package, which includes financial incentives, financial planning, and entrepreneurial capacity-building…
CBN launches new website
“Please follow our different social media channels linked on the website’s home page for more updates,” she said.
Why CBN’s MPC continuous hike of interest rate is troubling – CPPE
By Grace Alegba The Centre for the Promotion of Private Enterprise (CPPE) has warned the continued rate hikes by the…
CBN continues monetary policy tightening, raises interest rate by 25 basis points
The Governor of the CBN and Chairman of the MPC, Yemi Cardoso, announced the raise on Tuesday in Abuja, while…
Expert cautions against further tightening of money policy rate
Ekechukwu, a former president of the Abuja Chamber of Commerce and Industry, spoke against the backdrop of the 298th MPC…
“Don’t do it” – Expert cautions CBN against further hike in interest rate
According to him, for the first time in many months, both core and food inflation went up last month.
CBN exposes rise in fake SWIFT messages linked to Transfer claims
Additionally, the CBN reiterated that it does not provide correspondent banking services for Nigerian banks or maintain accounts for private…
CBN exposes fraudulent contract claims, warns Nigerians to stay alert
Ali reiterated that the CBN, under its current management, had discontinued direct development interventions and special project funding.