Tag: CBN
‘Stop plot by CBN, AGF to pay our LG funds to private accounts,’ Osun govt urges Tinubu
Osun Commissioner for Local Government and Chieftaincy Affairs, Dosu Babatunde said this in a statement on Wednesday.
SERAP sues CBN over missing billions for 774 LGAs
This legal move comes in the wake of the Supreme Court’s July 2024 judgment, which declared that state governors have…
CBN keeps Interest Rate unchanged at 27.50%
The Liquidity Ratio (LR) remains unchanged at 30%, while the asymmetric corridor is maintained at +500/-100 basis points around the…
Could Nigerian banks be in danger? CBN breaks silence on explosive claims
The apex bank reaffirmed its commitment to continuous oversight of financial institutions through rigorous frameworks designed to detect early warning…
CBN unveils BVN platform for diaspora Nigerians
The initiative, tagged Non-Resident Bank Verification Number (NRBVN) platform was described as a milestone in Nigeria’s financial inclusion journey and…
Expose the billions! SERAP pressures CBN to reveal LG Fund transfers or face redress
The group also cited former President Muhammadu Buhari’s shocking 2022 revelation that some local government chairmen were coerced into signing…
Naira depreciates against dollar at official market
The Naira had remained relatively static for three trading days, from Monday, April 28, to Wednesday, April 30, when it…
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…