Business
CBN Issues N150m Penalty For Banks Supporting Mint Naira Supply To Hawkers
The Central Bank of Nigeria (CBN) says banks facilitating illicit flow of mint naira notes will face N150 million fine per branch. In a circular […]
Banks
News
Strike: Activities Paralysed At Courts, Banks, Federal, State Secretariats In Ibadan
Oyo State judiciary workers on Monday joined the nationwide strike as directed by the Nigeria Labour Congress (NLC). The customary and magistrates’ courts, state and […]
Business
CBN Raises Commercial Banks Capital Base To N500billion
The Central Bank of Nigeria has raised the capital basis of commercial banks with international authorisation to N500 billion and national banks to N200 billion. […]
News
Naira Scarcity: CBN To Sanction Banks Found ‘Colluding’ With PoS Operators
As scarcity of Naira continues to bite harder in some parts of the country, the Central Bank of Nigeria (CBN) has threatened to sanction any […]
Business
CBN Directs Banks To Demand Customers’ Social Media Handles For Account Opening
The Central Bank of Nigeria (CBN) has issued guidelines requiring banks to collect and verify social media handles as part of their know your customer […]
News
Banks To Collect Old N500, N1,000 Notes; CBN To Receive Cash Above N500k
Deposit money banks have commenced collection of old N500 and N1000 notes from citizens following a directive from the Central Bank of Nigeria. On Friday, […]
News
N200 Notes To Be Circulated Immediately, As Emefiele Meets Heads Of Banks
The Central Bank Governor, Godwin Emefiele has said that he has met with 15 heads of commercial banks to ease the ongoing cash crunch in […]
Business
New Naira Notes: CBN Directs Banks To Pay Maximum Of 20k Over The Counter
The Central Bank of Nigeria (CBN) has directed commercial banks to start paying the redesigned naira notes to customers over the counter. In a statement […]
Business
Borno Establishes Emergency Banks To Mop Up Old Naira Notes
The Governor of Borno State, Babagana Zulum has directed the state Ministry of Finance to quickly establish branches of existing microfinance banks in 25 local […]
Business
CBN: Banks To Pay N1m Fine Daily Over Failure To Collect Redesigned Naira Notes
The Central Bank of Nigeria (CBN) says any commercial bank that fails to pick up the new naira notes for distribution will be fined N1 […]