Breaking: CBN moves interest rate to 18.75%

July 25, 2023 Benjamin Umuteme Abuja 0

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary policy Rate (MPR) to 18.75% from its initial 18.5%. This is a 25 basis points increase over the rates in May 2023.   This is the first press briefing by Acting CBN governor, Folashodun Shonubi, after the suspension of Godwin Emefiele. This is the Read More

Breaking: CBN allows Banks to trade forex ‘freely’ in Nigeria

June 14, 2023 Admin III 0

The Central Bank of Nigeria (CBN) has given commercial banks and dealers in the forex market the green light to sell forex freely which is at a market-determined rate. This is in line with the promise of President Bola Tinubu to unify the multiple exchange rate in the market. This development means that banks can now sell forex at market-determined Read More

Shonubi: Meet new CBN acting governor

June 10, 2023 Admin III 0

The Central Bank of Nigeria (CBN), deputy governor (operations), Folashodun Adebisi Shonubi, was appointed acting governor of the apex bank by President Bola Tinubu on Friday. He was trained as a mechanical engineer, went into marketing, moved into information technology — and became a central banker. By law, one of the deputies must complete Emefiele’s tenure, which expires May 2024. Read More

Pictures: Ekpenyong, Edwards win 45th CBN Tennis Open

May 28, 2023 Editor 0

David Ekpenyong and MaryLove Edwards on Saturday emerged winners of the 45th CBN Senior National Open Tennis Championship men and women’s singles event in Abuja. Ekpenyong who was tournament number two seed captured his first CBN Senior Open title in Abuja after his opponent and number one seed Uche Oparaoji was forced to retire with an apparent shoulder injury while Read More

[Breaking] Cash scarcity: CBN orders banks to extend working days

March 24, 2023 Admin III 0

The Central Bank of Nigeria (CBN) has ordered all commercial banks to open for operations on Saturdays and Sundays. This according to the apex bank was part of effort to ease circulation of banknotes of various denominations. A statement signed by CBN acting director, Corporate Communications Department, Isa AbdulMumin, on Friday March 24, 2023, revealed that evacuation of banknotes from Read More

Cashless policy: Pressure mounts on Buhari to sack Emefiele, Malami

March 15, 2023 Bode Olagoke 0

There are intense pressure on President Muhammadu Buhari to sack the Governor of the Central Bank (CBN) Godwin Emefiele and the Minister of Justice, Abubakar Malami for disobedience to the Supreme Court judgement on the controversial Naira policy. The incoming administration of Bola Ahmed Tinubu is also urged to immediately prosecute the duo of Emefiele and Malami for treason, disobedience Read More

Return of old N500, N1000 naira notes: What Nigerians are saying about CBN

March 14, 2023 Admin III 0

After several months of Naira scarcity, Nigerians have reacted after the Central Bank of Nigeria finally bowed to Supreme Court order stating that old N500 and N1000 Naira notes are still legal tender. Blueprint had reported that the apex bank had announced in a statement that the old notes are still legal tender hours after President Muhammadu Buhari insisted that he Read More

Relief for citizens: Old Naira notes still legal tender till Dec 31 – Supreme Court

…Says president disobeyed its Feb 8 order …Comply with ruling, CAMAN boss Uwaleke urges CBN …Over N1trn lost by businesses – Idakolo ‘…Judgement has eased tension economically’ …Banks should improve their IT infrastructure – Expert At last, Nigerians heaved a sigh of relief as the Supreme Court on Friday extended the legality of the N200, N500, and N1, 000 Naira Read More

Non-oil export earnings hit $75m in two months

February 28, 2023 Admin III 0

Earnings from non-oil export in October and November rose to $75 million, figures obtained from the Central Bank of Nigeria have revealed. The CBN stated in its November economic report that non-oil export earnings rose by 16.9 per cent to $0.40 billion, from $0.35 billion in October. It stated, “Non-oil export earnings rose by 16.9 per cent to $0.40bn, from Read More

CBN statement: Aisha Buhari recants, heaps blames on hacker

February 21, 2023 Admin III 0

Aisha Buhari has reacted to a viral “fake” Central Bank of Nigeria (CBN), press statement shared on her Instagram account on Tuesday February 21, 2023 The alleged fake press release mentioned that the old N500 and N1000 notes remains legal tender for the next 70 days, May 1, 2023. Debunking the report, Aisha Buhari posted on her Instagram page that Read More

Confusion as CBN denies directing banks to receive old N500, N1000 notes

February 17, 2023 Admin III 0

The Central Bank of Nigeria (CBN), has debunked the earlier claim that the apex bank has directed commercial banks to collect N500 and 1000 naira notes. Reacting to the claim, the director of corporate communications, Osita Nwanisobi, on Friday, February 17, 2023, urged the public to disregard the message. The statement reads, “The attention of the Central Bank of Nigeria Read More

What Naira re-design has done to livelihoods

February 17, 2023 Admin III 0

Since the re-designing of the N1, 000, N500 and N200 notes by the Central Bank of Nigeria (CBN), scarcity of the new notes has been a pain in the neck of the citizens who spend more time in banking halls, Automated Teller Machine (ATM) galleries and Point of Sale (PoS) terminals for withdrawals. Poor sales, damage of perishable goods and Read More

Currency swap Buhari’s worst policy – Ortom

February 16, 2023 Admin III 0

Governor Samuel Ortom has slammed President Muhammadu Buhari over the currency swap policy enacted by the Central Bank of Nigeria (CBN). Ortom stated this during a stakeholders’ meeting on the 2023 general elections organised by the Independent National Electoral Commission in Benue state. This came amidst protests across some cities over the scarcity of Naira notes, which has plunged many Read More

Breaking: Supreme Court announces new date on naira swap case

February 15, 2023 Admin III 0

The hearing in the suit banning the use of the old naira has been adjourned by the Supreme Court to Wednesday February 22, 2023. Justice John Okoro who led seven-man panel ordered them to amend their processes to be heard as one as Edo and Bayelsa have filed to be joined as respondents Blueprint had reported that three states filed Read More

Naira crisis: Anxiety as FG, States return to Supreme Court 

 Not less than six states will be at the Supreme Court today (Wednesday) to take on the federal government over the controversial naira swap which has led to serious economic hardship among Nigerians. Kaduna, Kogi and Zamfara states had headed to the apex court to challenge the February 10 deadline set by the Central Bank of Nigeria (CBN) for the Read More

Breaking: CBN governor Emefiele drops fresh hint on naira deadline, scarcity

February 14, 2023 Admin III 0

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said there was no need extending the February 10, 2023, naira swap deadline. Emefiele disclosed this while briefing the diplomatic community at the Ministry of Foreign Affairs Quaters in Abuja on Tuesday, February 14, 2023. He said, “The situation is substantially calming down since the commencement of over-the-counter Read More

VIDEO: Protesters storm CBN to swap old naira notes

February 14, 2023 Admin III 0

Following the drought of cash and the February 10, 2023 deadline on old naira notes, Nigerians have stormed the Edo state Central Bank of Nigeria (CBN), to express their displeasure on the rejection of naira swap by commercial banks across the country. In a viral video circulating on Social media, Tuesday, a man was seen expressing his grievances on the Read More

Naira scarcity: What Tinubu told CBN governor in open letter

February 13, 2023 Admin III 0

The presidential candidate of the All Progressives Congress (APC), Bola Ahmed Tinubu, has written an open letter to the governor of Central Bank of Nigeria (CBN), Godwin Emefiele, on the current naira scarcity affecting the country. Tinubu in a long letter on Monday February 13, 2023 appealed to Emefiele to adhere to some of his recommendations. He wrote, “The past Read More

Naira redesign: Nigerian security printing and minting company has capacity – CBN

February 11, 2023 Amaka Ifeakandu 0

The Central Bank of Nigeria (CBN) has debunked recent false claims on the capacity of Nigerian Security Printing and Minting Company Plc. (NSPMC) and alleged threat to close down some deposit money bank. Specifically, the apex bank said the CBN Governor Godwin Emefiele did not make such statement while addressing National Council of State. The apex bank also refuted alleged Read More

Exposed! How driver killed ex-CBN staff, wife, son – Police

February 11, 2023 Hakeem Adegbenro 0

The three suspects involved in the killing of Fatinoye couple and their only son have been paraded by operatives of Ogun state police command at the command’s headquarters in Eleweran, Abeokuta The suspects includes Lekan Adekanbi, Ahmed Odetola, and Waheed Adeniji who were paraded along side Lekan’s mother and girlfriend who were arrested as accomplices to the crime. Briefing newsmen, Read More