February 14
Nigeria: CBN Makes 1st Forex Market Intervention in 5 Months, Sells $86m
The Central Bank of Nigeria (CBN) intervened in the foreign exchange market for the first time in five months, to provide some liquidity and reduce pressure on the local currency. Read more »
February 10
Nigeria: Law Bars Central Bank From Advancing More Loans to Govt - Cardoso
The Central Bank of Nigeria has said it can no longer advance loans to the federal government through the Ways and Means as Section 38 of the CBN Act (2007) bars it from doing so… Read more »
February 02
Nigeria: CBN's Takeover of Sales Proceeds From NNPCL Illegal - Atiku
Former vice president Atiku Abubakar has said the directive by the federal government for the Central Bank of Nigeria (CBN) to take over the responsibility for crude oil sales… Read more »
December 26, 2023
Nigeria: Emefiele and the Alleged Rot At Central Bank of Nigeria
Corruption has long been a scourge on Nigeria's economic landscape, a scourge which has hindered development and perpetuated mass poverty. Indeed, Nigerians are unfortunately used… Read more »
Nigeria: Union Bank - Again, CBN Investigator Invites Titan Trust Bank Officials
The special investigator appointed by President Bola Tinubu to probe the activities of the Central Bank of Nigeria (CBN), Jim Obazee, has once again invited three top officials of… Read more »
December 20, 2023
Nigeria: CBN Insists Building $1trn Economy Requires Strengthening of Nigerian Banks
The Central Bank of Nigeria (CBN) has disclosed that the proposed bank recapitalisation is needed as a fuel for the government's $1 trillion economy ambition and a sustainable… Read more »
December 19, 2023
Nigeria: UBA Secures $175m AfDB Loan to Support Private Sector, Infrastructure Development
Towards enhancing its support to the private sector and financing of infrastructure development in Africa's largest economy, Nigeria, the United Bank for Africa (UBA) has received… Read more »
November 15, 2023
Nigeria: CBN Ways and Means Fuelled Inflation, Weakened Naira - Sanusi
Former governor of the Central Bank of Nigeria, Muhammad Sanusi II, has said the apex bank's lending to the federal government under the administration of former President… Read more »
November 12, 2023
Nigeria: Declare Close Relatives, Connections With Politically Exposed Persons, Central Bank Tells Staff
The Central Bank of Nigeria (CBN) has issued a directive requiring its staff to declare 'close relatives' employed by the bank and disclose any connections to Politically Exposed… Read more »
November 06, 2023
Nigeria: Again, Tajbank Wins 'Islamic Bank of the Year' Award
TAJBank Limited, Nigeria's fastest-growing and most customer-friendly non-interest lender, has again won the BusinessDay newspaper's 2023 'Islamic Bank of the Year Award, beating… Read more »
Nigeria: Cardoso Hosts Sanusi Others, Restates CBN's Focus On Price Stability
The governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated that, under his leadership, the bank will focus mainly on the core mandate of price… Read more »
November 03, 2023
Nigeria: CBN Begins Clearance of $10bn Forex Backlogs of Foreign Airlines, Others
The Central Bank of Nigeria (CBN), has started clearing over $10 billion foreign exchange backlogs of commercial banks and foreign airline operators. Read more »
November 02, 2023
Nigeria: We Have Sufficient Stock of Naira Notes - Central Bank
The Central Bank of Nigeria (CBN) has said that it has enough volume of banknotes to go around against backdrop of the approaching festive period, dismissing the allegations of… Read more »
October 30, 2023
Nigeria: Again, Polaris Wins Nigeria's Best Digital Bank Award With Vulte
Polaris Bank shone brightest over the weekend as its bespoke home-grown digital bank, VULTe won for the third time, Nigeria's 'Best Digital Bank of the Year' prize at the… Read more »
August 19, 2023
Nigeria: Central Bank Issues New Guidelines for Bureau de Change Operators
The Central Bank of Nigeria has released fresh operational guidelines for Bureau de Change (BDC) operators in the country, fixing their allowable limits at the Nigeria Foreign… Read more »
Nigeria: Banks' Losses to Fraud Rise to N9.5 Billion
With over N9 billion lost to fraud in the banking system this year, the figure is projected to reach N20 billion by the end of this year even as operators in the financial system… Read more »
August 15, 2023
Nigeria: Central Bank Moves to Clamp Down On Forex Speculators
The Central Bank of Nigeria (CBN) has taken proactive measures to counteract the depreciation of the naira, with imminent interventions set to be unveiled within the coming days. Read more »
August 03, 2023
Nigeria: We Have No Control Over Fuel Price, Forex, CBN Tells Reps
The Central Bank of Nigeria (CBN) yesterday told the House of Representatives that it lacks control over the price of Premium Motor Spirit (PMS), popularly known as fuel, and the… Read more »
July 12, 2023
Nigeria: Stop Excess Charges, Illegal Deductions, Reps Tell Commercial Banks
The House of Representatives yesterday asked commercial banks operating in the country to stop excess charges and illegal deductions from their customers. Read more »
June 19, 2023
Nigeria: Domiciliary Account - CBN Lifts Restriction On Deposit, Withdrawal
The Central Bank of Nigeria (CBN) has said cash deposits into domiciliary accounts will not be restricted, and customers "shall have unfettered and unrestricted access to funds in… Read more »
June 18, 2023
Nigeria: Central Bank Lifts Restriction On $10k Deposit On Domiciliary Account
The Central Bank of Nigeria (CBN) has said cash deposits into domiciliary accounts will no longer be restricted, and customers "shall have unfettered and unrestricted access to… Read more »
May 30, 2023
Nigeria: Release Foreign Airlines' Trapped Funds, NAHCO Urges Federal Govt
The chairman of the board of Nigerian Aviation Handling Company Plc, Dr. Seinde Fadeni, has called on the federal government to release funds belonging to foreign airlines trapped… Read more »
May 17, 2023
Nigeria: World Bank Poverty Report On Nigeria
Several reports by reputable organisations, both local and international, have indicated that Nigeria faces the serious challenge of poverty for millions of the country's citizens.… Read more »
May 03, 2023
Nigeria: CBN Places 7,552 Bvn On Watchlist As eNaira Transactions Hit 1.4m
The Central Bank of Nigeira (CBN) has placed 7,552 Bank Verification Numbers (BVN) on its watchlist for fraudulent transactions, even as the Central Bank Digital Currency (CBDC)… Read more »
April 11, 2023
Nigeria: CBN to Banks, Others - Pay Special Attention to Risks, Comply With Anti-Money Laundering Rules
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions (OFIs) to pay special attention to credit risk, operational risk, legal risk, liquidity risk,… Read more »