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166 stories tagged cbn.
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The Central Bank of Nigeria (CBN) has issued a directive to banks and other financial institutions to exercise caution while conducting transactions with businesses and individuals from specific countries. The apex bank…
The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation (BMGF) recently engaged in strategic discussions aimed at strengthening their partnership and expanding financial inclusion initiatives in…
The Central Bank of Nigeria (CBN) has declared that cash deposits into domiciliary accounts will not be restricted, ensuring customers have full access to their funds. This announcement came after a meeting with the…
In a recent development, the Central Bank of Nigeria (CBN) has reportedly instructed banks to engage in foreign exchange trading within the Investors & Exporters (I&E) window using a flexible exchange rate system based…
Agbor, Nigeria - The Agbor Professionals Business Group has strongly criticized the recent suspension of the Central Bank Governor, Mr. Godwin Emefiele, expressing concerns over its potential impact on the stability of…
In a recent statement titled "CBN Has Not Devalued the Naira," the Central Bank of Nigeria (CBN) vehemently denied claims that it had devalued the country's currency. Dr. Isa AbdulMumin, the Acting Director of Corporate…
The federal government has given its approval for commercial banks to issue debit cards that double as national identity cards. The groundbreaking policy was authorized on Wednesday during the Federal Executive Council…
In a move aimed at curbing the rising inflation in Nigeria, the Central Bank of Nigeria's Monetary Policy Committee (MPC) has announced a further increase in the interest rate from 18 percent to 18.5 percent. This…
In a recent development, the Central Bank of Nigeria (CBN) has made the decision to revoke the operating licenses of a significant number of financial institutions in the country. A gazetted circular signed by the CBN…
ABUJA - The Central Bank of Nigeria (CBN) has taken a significant step towards enhancing financial inclusion in the country with the launch of its innovative Financial Literacy e-Learning Platform, "SabiMoni." The…
The Central Bank of Nigeria (CBN) has addressed misconceptions surrounding the Bank Verification Number (BVN). CBN clarified that the BVN issued in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS)…
The Central Bank of Nigeria (CBN) has issued a stern warning to shipping companies that export undocumented cargo from the country. The CBN Governor, Godwin Emefiele, made this warning during the RT200 Non-Oil Export…
The Central Bank of Nigeria (CBN) has recently dismissed rumors that it plans to phase out the newly redesigned N1,000, N500, and N200 notes. Dr. Isa AbdulMumim, Ag. Director of Corporate Communications at the bank, has…
According to a recent report by the World Bank, Nigerians living abroad have remitted a staggering $168.33 billion to the country in the past eight years. The remittances were made despite the instability of foreign…
The Central Bank of Nigeria (CBN) in partnership with the Bankers’ Committee has launched a new phase of sensitization aimed at encouraging the adoption of the eNaira, an electronic payment system that serves as an…
Minister of Labour and Employment, Chris Ngige, has defended the naira redesign policy of the Central Bank of Nigeria (CBN) despite the challenges it has posed for Nigerians. Speaking on Channels Television’s Politics…
Banks have recently increased cash payouts to their customers, resulting in a significant reduction in the long queues and large crowds that had previously been seen at cash dispensary points over the last two and a…
In recent news, Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has revealed that the apex bank has disbursed a sum of N12.65 billion on the Anchor Borrowers Programme (ABP) since the beginning of…
According to recent reports, Nigeria's cash shortages that have persisted for three months are expected to subside this week. Banks have complied with the Central Bank of Nigeria's latest directives on cash dispensing…
The Nigeria Labour Congress (NLC) has urged workers to report banks that are not dispensing cash to its state councils as the country is experiencing a scarcity of naira notes. This move comes ahead of a planned…
