The Central Bank of Nigeria has introduced a daily cash-out transaction limit of N100,000 per individual customer for Point-of-Sale agents as part of new… Read More »CBN limits POS daily withdrawal to N100,000 per customer
BY SAM OTUONYE The Central Bank of Nigeria (CBN) has issued a strong warning to banks involved in the illegal sale of minted naira… Read More »CBN to fine Banks in mint naira notes sales N150m
In a decisive effort to curb the unauthorized distribution of freshly minted naira notes, the Central Bank of Nigeria (CBN) has announced a… Read More »CBN announces N150m fines on banks over new Naira notes
The Central Bank of Nigeria, or CBN, was ordered by the House of Representatives on Tuesday to halt the retirement of 1,000 employees and the… Read More »Reps order CBN to not retire 1000 employees while investigation is ongoing
By Joshua Ephraim Danladi It has been reported today, that the CBN has raised the interest rate to 27.50% . I am not an… Read More »My take on CBN adjustment of interest rate
The Central Bank of Nigeria’s Monetary Policy Committee has raised the country’s interest rate by 25 basis points to 27.50 per cent in November from… Read More »CBN raises interest rate, 6th time in 9 months
BY SAM OTUONYE The Central Bank of Nigeria (CBN), on Tuesday, issued comprehensive guidelines for the operations of the interbank foreign exchange (FX) trading system… Read More »CBN sets $100,000 minimum banks’ trade on EFEM, unveils new FX guidelines
BY SAM OTUONYE … credit to hit N53.6trn by 2027 A review of the medium-term expenditure framework of the government according to a news… Read More »FG overshoots 2024 CBN credit limit by N4trn – Report
BY SAM OTUONYE The Central Bank of Nigeria has warned Deposit Money Banks (DMBs) over cash hoarding and diversion, emphasising that such actions will attract… Read More »CBN rolls out penalties against banks hoarding, diverting cash
BY SAM OTUONYE The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has stated that the new capital requirement for banks operating in the… Read More »Banks recapitalisation will deepen financial inclusion – CBN
…Reps caution against shoddy implementation BY SAM OTUONYE In a significant move to enhance currency management and combat inflation, the Central Bank of Nigeria (CBN)… Read More »CBN gives Dec. 31 deadline for old naira notes to seize as legal tender
BY SAM OTUONYE Against the backdrop of Nigeria’s ongoing economic reforms, the Central Bank of Nigeria (CBN) has again extended the suspension of processing fees… Read More »CBN again extends suspension of processing fees on cash deposits
BY SAM OTUONYE Regulatory agencies responsible for overseeing the activities of Deposit Money Banks in Nigeria have sanctioned 10 banks for violations of foreign exchange… Read More »CBN, SEC axe 10 banks for FX violations, others
BY SAM OTUONYE Central Bank of Nigeria (CBN) has reiterated its resolve to ensure the stability of the banking sector and safety of depositors’ funds.… Read More »CBN reaffirms commitment to financial system stability, safety of depositors’ funds
BY SAM OTUONYE The Central Bank of Nigeria (CBN) said it sold a total of $543.5 million to authorised dealer banks between 6 and 30 September. The… Read More »CBN says it sold $543.5m FX to banks in 25 days
BY SAM OTUONYE The Central Bank of Nigeria (CBN) has commenced the process of appointing substantive directors to replace those who were relieved of their… Read More »CBN set to replace sacked Directors
BY SAM OTUONYE The Central Bank of Nigeria, CBN, Monetary Policy Committee, MPC, has raised the interest rate by 50 basis points to 27.25 per… Read More »CBN raises Nigeria’s interest rate to 27.25%
By Akpobor Jirue, Lagos As part of effort to ensure effective monitoring of electronic transactions in Nigeria, the Central Bank of Nigeria (CBN) has mandated… Read More »CBN to begin tracking of PoS transaction next month