Central Bank of Nigeria (CBN)
19 Mar
Nigeria’s electricity Distribution Companies (DisCos) may have spent an average of N670,000 to purchase each prepaid meter and other accessories through a N273.3 billion facility obtained from the Central Bank of Nigeria (CBN).
8 Mar
The Central Bank of Nigeria (CBN) reported a significant increase in foreign exchange inflow into the economy in February.
7 Mar
National Institute of Credit Administration (NICA), has again reiterated the essence of a well-functioning consumer credit system, which facilitates the acquisition of goods and services on credit, thereby diminishing the dependency on cash transactions.
24 Feb
The Central Bank of Nigeria (CBN) has mandated foreign exchange sellers to Bureau De Change (BDC) of the equivalent of 10,000 dollars and above to declare their forex sources.
23 Feb
The Senate has confirmed the nominations of 12 members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) after the consideration of a report by the Committee on Banking, Insurance and other Financial Institutions.
14 Feb
Three Nigerians, including a former Central Bank of Nigeria (CBN) employee, have been placed on an International Criminal Police Organisation (INTERPOL) red notice for allegedly forging documents and stealing over $6 million from the bank. The suspects, identified as Odoh Eric Ocheme, Adamu Abubakar, and Imam Abubakar, are accused of conspiring to defraud the CBN…
5 Feb
Decision of the Federal Government to relocate certain departments of Central Bank of Nigeria (CBN) and the headquarters of the Federal Airport Authority of Nigeria (FAAN) to Lagos is part of a broader strategy to enhance operational efficiency, streamline processes and ensure responsive financial system for Nigeria and operations cost.
2 Feb
The Central Bank of Nigeria (CBN) has stopped banks and financial technology companies (fintechs) from international money transfer services while increasing the application fee by 1,900%. The ban was announced in an official document from CBN dated Wednesday, January 31, 2024 which also contained the revised guidelines for the operations of International Money Transfer Operators…
30 Jan
Money supply added as much as N25.6 trillion last year, an astronomical growth of 50 percent, to reach an all-time high of N78.74 trillion.
30 Jan
The Central Bank of Nigeria (CBN) has released fresh $500m to various sectors of the economy to address the foreign exchange (FX) challenge.
21 Jan
Recent disclosures from a Special Investigator appointed by President Bola Ahmed Tinubu have brought attention to the practices of the Central Bank of Nigeria (CBN) and the Ministry of Finance during the previous administration.
18 Jan
The Northern Elders Forum (NEF), has faulted the alleged plan to relocate major departments in the Central Bank of Nigeria (CBN), from Abuja to the former headquarters in Lagos. The NEF recognizes the importance of the departments in question, including Banking Supervision, DBS; Other Financial Institutions Supervision, OFISD; Consumer Protection Department, CPD; Payment System Management…