Tag: Central Bank of Nigeria (CBN)
CBN taken to court over missing N3 trillion
It said the lawsuit followed allegations contained in the latest annual report by the Auditor-General of the Federation, which was…
CBN approves BDCs’ participation in foreign exchange market
The CBN, however, imposed strict compliance and risk-management conditions on the transactions.
How Nigerian Businesses Can Now Pay Taxes More Easily: A Step-by-Step Guide Every Taxpayer Should Know
As Nigeria intensifies efforts to expand its revenue base and improve economic stability, understanding how to pay taxes correctly has…
Why CBN must sustain its reforms on naira recovery – BCAN
The Naira, however, recorded a marginal depreciation of 0.05 per cent on Tuesday, trading at N1,471.08, while it exchanged at…
CBN’s recruitment of 16 directors: A break from the norm
But sadly, in Nigeria, appointments into the CBN are not seen as part of the building block for the country’s…
CBN asked to suspend ATM fee hike pending court verdict
“Implementing the ATM fee hike while the lawsuit on the matter is pending before the Federal High Court would make…
Court restrains CBN, others from withholding Kano LG allocation
A Kano State High Court, on Monday, issued an order of perpetually injunction restraining the Central Bank of Nigeria (CBN)…
Navigating New Forex Trading Guidelines for Nigerian Banks
To ensure compliance with these regulations, all Nigerian banks must take proactive measures to align with the CBN's directives. They would likely…
Nigerian banks resilient despite economic pressures – CBN
CBN Governor, Mr. Yemi Cardoso, disclosed this in Abuja on Tuesday during the presentation of a communiqué from the 298th…
CBN unveils penalties for banks aiding hawking of Naira notes
CBN would engage in “mystery shopping” exercise and periodic “spot checks” on cash distribution and disbursement activities of banks to…
Breaking: More troubles for Fubara as court stops CBN from releasing Rivers’ allocation
The Federal High Court in Abuja has stopped the Central Bank of Nigeria, CBN, from further releasing monthly financial allocations…
CBN sued over failure to account for missing N100bn dirty notes, other public funds
“The CBN also reportedly failed to account for the missing outstanding loan of N1.2 billion [N1,294,453,887.83] granted to the Enugu…
CBN announces stricter regulations for dormant accounts, unclaimed funds
These new guidelines, effective immediately, supersede previous policies issued in 2015. This is made known in a circular signed by…
CBN governor issued 7 days to account for missing N100bn dirty notes
“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that…
Why we revoked licence of Heritage Bank- CBN
The Board and Management of Heritage bank have not been able to improve the bank’s financial performance, a situation which…
SERAP, BudgIT, 136 Nigerians take CBN to court over cybersecurity levy on Nigerians
“As of 30 April 2024, commercial banks in Nigeria already charge exorbitant fees for electronic transactions, including Electronic Transfer Charges…
CBN extends processing fees on cash deposits to Sept. 30
The cybersecurity levy will now be added to the already existing bank charges like transfer fees, stamp duty, charges on…
CCCAI demands reversal of cybersecurity levy
The not-for-profit committed to consumer protection, said it's appalled by the apparent insensitivity of the government and the CBN to…
See all the transactions exempted from cybersecurity levy by CBN
However, some items were exempted from the 0.5 per cent Cybersecurity levy on all electronic transactions by the CBN. The…
CBN increases minimum capital base for commercial banks to ₦500bn
Cardoso, who assumed office two months earlier, had said commercial banks in the country would be directed to increase their…
Stakeholders raise concern as Nigeria’s inflation rate rises to 31.70%
“Cost of living has become increasingly unbearable, crime has taken over the entire country, and investors are afraid to venture…
Experts project further rates tightening as CBN holds first MPC under Cardoso
“There will be an effect of that because interest rates will increase, people will save more and consume less, and…
CBN, ONSA, EFCC, NFIU, NCS join forces in battle against forex speculators
NSA said the primary objective of this alliance is to systematically identify, thoroughly investigate and appropriately penalise individuals and organisations…
I don’t hate Yoruba, my daughters married them – Ndume
Ndume claimed he cannot harbour hatred for the Yoruba nation because two of his daughters are married to men from…
CBN relaxes restrictions on fx rates quoted by IMTOs
The CBN had earlier directed Deposit Money Banks (DMBs) to sell their excess dollar stock in a bid to stabilise…
CBN: Backlog of foreign exchange owed foreign airlines cleared
CBN said this on Tuesday while announcing payment of an additional 64.44 million dollars to the foreign airlines
CBN assures depositors of safety of funds in Titan Trust, Keystone banks
The apex bank gave the assurance following reports about alleged plans by the Federal Government to take over Titan Trust…
Ex-SGF Boss Mustapha denies taking $6.3m from CBN vault
A special investigator appointed by President Bola Tinubu uncovered the alleged theft, which supposedly occurred on February 8, 2023 —…
CBN assures of adequate cash supply, says 3.4trn in circulation
Ali said that Naira notes in circulation had increased from one trillion Naira in February to N3.4 trillion in December.
Counterfeit Naira notes in circulation, CBN raises alarm
According to the CBN, the counterfeit Naira notes were mainly used for transactions in food markets and other commercial centres…