January 26, 2023
Nigeria: Nigeria Launches Domestic Card Scheme in Cashless Bid
Mr Emefiele said the establishment of the card scheme is in line with global trends. Read more »
January 25, 2023
Nigeria: Stamp Duty - CBN Says N378.7 Billion Collected in Six Years
A lawmaker had alleged that some government agencies misappropriated N89.09 trillion collected as stamp duty. Read more »
January 24, 2023
Nigeria: NASS Asks CBN to Extend the Deadline On Old Naira Notes By Six Months
The CBN on Tuesday insisted that the deadline on old notes remained 31 January. Read more »
Nigeria: CBN Increases Benchmark Interest Rate to 17.5%
The CBN's MPC also voted to keep the asymmetric corridor at +100 and -700 basis points around the MPR Read more »
January 19, 2023
Nigeria: Central Bank Vows to Sanction Banks Hoarding New Notes
"No bank should refuse to collect the old naira notes until the deadline of 31st January 2023," an official said. Read more »
Nigeria: How I Became Bank CEO At 34 - Tony Elumelu
"I owed my accelerated career and successes to two things: hard work and luck...," the entrepreneur said. Read more »
January 16, 2023
Nigeria: Confusion As CBN Governor Emefiele Resumes Duty
Reports claimed Monday afternoon that operatives of the State Security Service (SSS) invaded the headquarters of the CBN and took over the office of the embattled governor. Read more »
January 11, 2023
Nigeria: Gtb UK Fined £7.7m Over Money Laundering Control Lapses
The bank said necessary steps have been taken to address and resolve the identified gaps Read more »
December 21, 2022
Nigeria: Central Bank Amends Cash Withdrawal Policy, Raises Weekly Limits
The upward review comes after the National Assembly asked the bank to considerably adjust the withdrawal limits in response to public outcry on the policy. Read more »
December 20, 2022
Nigeria: Withdrawal Limit - Again, Emefiele Fails to Appear Before Reps, Says He's On Official Assignment Abroad
Mr Emefiele, who was billed to appear before the lower chamber on Tuesday (today) to explain the withdrawal policy, has been asked to honour the invitation on Thursday. Read more »
Nigeria: Court Rejects SSS' Request for Arrest Warrant Against CBN Governor Emefiele
The judge criticised the SSS for attempting to use the court as a cover for an irregular move to arrest the CBN governor Emefiele Read more »
December 14, 2022
Nigeria: Senate Asks Central Bank to Reconsider Cash Withdrawal Policy
The CBN, in a memo in November, announced a limit on cash withdrawal made by individuals and organisations with effect from 9 January, 2023. Read more »
December 09, 2022
Nigeria: The CBN Currency Plan - Deepen Distrust, Cause Disaffection
The CBN has decided, you can't take more than N20,000 out of your own money from your own bank account in one day. In a country in which the majority of Nigerians have no bank… Read more »
December 08, 2022
Nigeria: No Turning Back On Cashless Policy, Emefiele Says After Meeting Buhari
The central bank governor says limits may be amended but the policy will go forward. Read more »
December 06, 2022
Nigeria: Nigeria Imposes Restrictions on Cash Withdrawals
The CBN directs that only N200 and lower denominations should be loaded into banks' ATM machines. Read more »
November 22, 2022
Nigeria: Access Bank Disowns Fake News On Association With Cryptocurrency Platform
A statement by the Bank's management dissociated the financial institution from the information pushed out by a fictitious webpage Read more »
November 07, 2022
Nigeria: CBN, New Banknotes, and How Not to Run Monetary Policy
The presence in circulation of different series of the US dollar suggests that there are other less-disruptive-to-economic-activity ways of doing this. Read more »
October 30, 2022
Nigeria: Buhari Declares Support for Central Bank's Move to Redesign, Replace Naira Notes
President Buhari said reasons given to him by the CBN convinced him that the economy stood to benefit from the policy. Read more »
October 26, 2022
Nigeria: Nigeria's Central Bank to Launch New Naira Designs December
"Although global best practice is for central banks to redesign, produce and circulate new local legal tender every 5-8 years, the Naira has not been redesigned in the last 20… Read more »
October 25, 2022
Nigeria: What to Know About CBN's National Domestic Card Scheme
The central bank has announced it will launch national domestic cards in January 2023. Read more »