$10bn Debt: CBN yet to meet up with payment plans

September 28, 2023 Blessing Anaro 0

Over two weeks after the Central Bank of Nigeria (CBN) promised to clear over $10 billion foreign exchange (forex) debts owed Deposit Money Bank, the apex bank has yet to do so according to findings. It will also be recalled that, President Bola Tinubu earlier ordered the apex bank to clear backlog owed the airline as soon as possible, but Read More

CBN unveils online platform for microfinance bank licence applications

September 22, 2023 BDavid Agba 0

The Central Bank of Nigeria has postponed the Monetary Policy Committee’s 293rd meeting, which was scheduled for Monday and Tuesday, September 25 and 26, 2023. This was according to a statement by the bank’s Director of Corporate Communications, Dr Isa AbdulMumin, on Thursday. According to the statement, “The Monetary Policy Committee of the Central Bank of Nigeria has deferred its Read More

Breaking: CBN postpones September MPC meeting

September 21, 2023 Benjamin Umuteme Abuja 0

The Central Bank of Nigeria (CBN) has postponed its 293rd Monetary Policy Committee (MPC) meeting. The MPC meeting had been scheduled for September 25 and 26, 2023. A statement by Director of Corporate Communications at the CBN, Dr. Isa AbdulMumin, Thursday, in Abuja, posted on its website did not give any reason for the postponement. “The Monetary Policy Committee (MPC) Read More

CBN’s cashless policy: The gains, the hurdles 

September 14, 2023 Danjuma Abdullahi 0

The Central Bank of Nigeria, CBN, in 2012, disclosed its plans to begin a transition to a cashless economy as part of the country’s ambition to become one of the best 20 economies before the year 2020. The objective of the scheme was to reduce the number of naira notes and coins used for business but not to eliminate cash Read More

Welcoming CBN’s timely warning to Forex speculators

September 8, 2023 Nasir Dambatta 0

In what should be viewed by every stakeholder in the growth and prosperity of the Nigerian economy as a most-elating display of responsibility and goodwill, the Central Bank of Nigeria (CBN) recently issued a very timely warning to Forex speculators about the implications of its planned application of new liquidity flow measures and strategies in the country’s economy. The apex Read More

Presidential spokesman blames forex scarcity on past CBN managements

August 16, 2023 Blessing Anaro 0

Presidential spokesman blames forex scarcity on past CBN managements Presidential spokesman to President Bola Tinubu has blamed past management of the Central Bank of Nigeria (CBN) for mismanagement of foreign exchange (forex) at the apex bank.“We are ready to show you exactly what it is that our nation is facing with respect to the illiquidity in the market in terms Read More

Rights group defends Emefiele, saysex-CBN boss innocent of procurement Act breach

August 16, 2023 Bode Olagoke 0

A civil society organisation (CSO), African Center for Justice and Human Rights (ACJHR), has said that the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, was innocent of the fresh allegations of breach of Procurement Law and unfair advantages in award of contracts being levelled against him by the Federal Government. The Director of Public Prosecution (DPP) Read More

Emefiele’s release: Attention on Tinubu as court orders substituted service on DSS DG

August 2, 2023 Bode Olagoke 0

Nigerians are eagerly waiting to see if President Bola Tinubu-led administration will obey the rule of law, as Federal High Court in Lagos, on Tuesday, granted the suspended Cenntral Bank of Nigeria (CBN) Governor, Godwin Emefiele, leave to serve the Director General, Department of State Services (DSS), Mr. Yusuf Magaji Bichi, the order of court admitting him to bail and Read More

CBN excludes mortgage, micro-finance banks from cash withdrawal limits

August 2, 2023 Segun Odunewu 0

The Central Bank of Nigeria (CBN) has removed primary mortgage banks and microfinance banks from its cash withdrawal limit policy. The apex bank made this known in a circular signed by the bank’s Director, Payment System Management, Musa Jimoh and addressed to all financial institutions across the country. The apex bank noted that microfinance banks and mortgage banks that serve Read More

e-Naira: Nigeria lags behind 60 years in technology – CBN

July 28, 2023 AbdulRaheem Aodu 0

The Central Bank of Nigeria (CBN) has lamented that Nigeria lagged behind other developed countries by 60 years in financial technologies. According to the apex bank, the nation is equally behind in currency management, the Central Bank of Nigeria (CBN) has lamented. “Physical cash is no longer in vogue across the world, as countries move towards electronic money and that Read More

Emefiele: 60 lawyers call for DSS DG’s sack, file contempt charges

July 17, 2023 Kehinde Osasona 0

About 60 Constitutional and Human Right lawyers, Monday, stormed the High Court of the Federal Capital Territory (FCT) to commence committal proceedings against the director general of the State Security Service (SSS), Mr Yusuf Bichi, for what they described as violation of multiple judgments and orders of court directing the release of former Central Bank Governor, Mr. Godwin Emefiele, from Read More

Lawyers hail court judgment nullifying Emefiele’s arrest

July 14, 2023 Bode Olagoke 0

Renowned civil society group, Lawyers in Defence of Democracy (LDD) has hailed the Friday’s judgment of Hon. Justice Bello Kawu of the FCT High Court setting aside, quashing, invalidating and nullifying the arrest, detention and interrogation of the suspended Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele. In a release by the group in Abuja shortly after the latest Read More

CBN to scrutinise First Bank shares acquisition by Otudeko

July 11, 2023 Blessing Anaro 0

The Barbican Capital Limited is on technical suspension by the Central Bank of Nigeria (CBN) after the acquisition of the single equity I. fBN Holdings by its principal Oba Otudeko. According to the Street Journal, the suspension will be on till the CBN determines its propriety. The CBN would subject the material acquisition to critical examination in line with its Read More

Money laundering: CBN issues fresh directives

June 25, 2023 Rosemary Moribirin 0

The Central Bank of Nigeria (CBN), has introduced new regulations that compel financial institutions to collect additional customer details, such as social media usernames, email addresses, phone numbers, and residential addresses. This measure has been implemented to bolster the identification process within the banking system. The CBN has outlined these requirements in a published document titled “Central Bank of Nigeria Read More

FX market free floated, CBN clarifies position

June 20, 2023 Segun Odunewo 0

Deputy Governor of the Central Bank of Nigeria (CBN) Kingsley Obiora has described the Banks recent decision concerning the foreign exchange market as a managed float and not a free float as it is being perceived in many quarters. In an interview in Rabat, Morocco, Tuesday, Obiora said the country plans to announce further measures to loosen forex controls, stating Read More

Naira devaluation report fake news – CBN

June 2, 2023 David Agba 0

The Central Bank of Nigeria has debunked a recent report published in one of the national daily that it has devalued the naira to N631 to a dollar at the Importers and Exporters’ (I&E) window. A statement issued by the apex bank signed by Acting Director Corporate Communications, CBN, Isa AbdulMumin said that the report is replete with outright falsehoods Read More

Breaking: CBN has not devalued naira – Official

The Central Bank of Nigeria (CBN) has said it has not devalued the Naira, contrary to reports making round.  According to Ag. Director, Corporate Communications, Isa AbdulMumin, in a statement Thursday morning, the Apex Bank insisted that the report by Daily Trust newspapers bordered on willful ignorance “The attention of the Central Bank of Nigeria (CBN) has been drawn to 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

Entrench fair, just legal system to attract foreign investment -CBN urges judges

May 26, 2023 Amaka Ifeakandu 0

The Governor Central Bank of Nigeria (CBN), Mr Godwin Emefiele has urged Nigeria judiciary members to ensure entrenchment of a fair and just legal system, which will help attract much-needed foreign investments to the country. Emefiele made this statement at the 2023 CBN’s Capacity Building Workshop on Banking and Financial Services Sector for Judicial Officers. He said such investments would Read More