CBN’s recruitment of 16 directors: A break from the norm
The central bank of any country is a uniquely influential institution. Due to its mandate of maintaining monetary and financial stability in line with the economic vision of the government, everything it does can impact everyone.
CBN is positioning banks for $1trn economy – Cardoso
“As we shift from unorthodox to orthodox monetary policy, the CBN remains committed to restoring confidence
CBN’s policies stopped inflation from rising to 42.81% – Cardoso
The Central Bank of Nigeria has said that without its policy interventions, inflation could have risen to 42.81 per cent in December 2024.
CBN and economy: Policy options and projections
By Arize Nwobu Central banks are at the heart of the economy and they evolve monetary policies to keep a nation’s currency and economy stable. But it has been observed that central banks are often misunderstood in their efforts to heal the economy. That is why PwC noted that central banks need to communicate efficiently and effectively […]
CBN waives 2025 licence renewal fee for Bureau de Change operators
By Bayo Wahab The Central Bank of Nigeria (CBN) has waived the 2025 licence renewal fee for all bureau de change (BDC) operators. Jonah Onojah, the director of the financial policy and regulation department, recently annunced the development, saying waiver took immediate effect. The statement reads, “This is to inform all existing bureaux de change […]
CBN approves release of FX code
The Central Bank of Nigeria (CBN) has said it has approved the release of the Nigerian Foreign Exchange (FX) Code.
CBN fines 9 banks N1.35bn for failing to dispense cash via ATMs
Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make Naira notes
CBN introduces ordinary, investment bank accounts for Nigerians in diaspora
The Central Bank of Nigeria, CBN, on Friday announced it has introduced the Non-Resident Nigerian Ordinary Account (NRNOA) and Non-Resident Nigerian Investment Account (NRNIA) for Nigerians in diaspora.
Yuletide: CBN grants BDCs temporary access to buy $25,000 weekly
This temporary arrangement, designed to meet the increased demand for foreign exchange during the festive season, will run from December 19, 2024, to January 30, 2025.
Why CBN set N100,000 daily withdrawal limit on PoS terminals
CBN has explained the introduction of a N100,000 daily withdrawal limit on point-of-sales, PoS, terminals as part of efforts to curb fraud
Supply hawkers mint naira notes, pay N150m fine – CBN warns banks
The Central Bank of Nigeria (CBN) has issued a strong warning to banks involved in the illegal circulation of newly minted naira notes.
Old Naira notes remain valid – CBN
The Central Bank of Nigeria (CBN) has reaffirmed the validity of the old Naira notes.
Old, new naira notes remain legal tender – CBN
The Central Bank of Nigeria (CBN) says all denominations of Naira banknotes currently in circulation remain indefinitely valid as legal tender and cannot expire or be phased out.
CBN and consistent increase in MPR
By ARIZE NWOBU THE vision of the Central Bank of Nigeria, CBN, is to be the most efficient and effective of the world’s central banks in promoting and sustaining economic development. And the mission is to be proactive in providing suitable framework for the economic development of Nigeria through the effective, efficient and transparent implementation of […]
Banks reduce cash withdrawal limit to N10,000 in Nasarawa
Commercial banks operating in Nasarawa State have reduced their daily over-the-counter cash withdrawal limit to N10, 000.
CBN clarifies staff early exit exercise
The Central Bank of Nigeria (CBN) has dismissed claims of forced mass retirements, clarifying that its Early Exit Package (EEP) was entirely voluntary and without any negative repercussions for eligible staff.
