Business
CBN Retains Lending Rate At 27.5%
The Central Bank of Nigeria (CBN) has retained its key lending rate, known as the Monetary Policy Rate (MPR), at 27.5 per cent. The CBN […]
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Business
Fidelity Bankruptcy Scare: Nigeria’s Banking Sector Stable, CBN Reassures Nigerians
The Central Bank of Nigeria has reassured the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. The CBN said […]
Business
CBN Introduces N100 Fee For ATM Withdrawals
The Central Bank of Nigeria, CBN, says it has eliminated the three free monthly withdrawals transaction fees for customers using other banks’ Automated Teller Machine, […]
Business
Naira Falls 1.4% As CBN Extends Foreign Exchange Sales Deadline
The naira depreciated on Monday’s official market, trading N1,495.60 to a dollar. Data from the FMDQ Security Exchange official forex trading platform revealed that the […]
Business
CBN Sanctions 9 Banks For Failing To Dispense Cash Via ATMs
The Central Bank of Nigeria, CBN, says it has sanctioned some Deposit Money Banks, DMBs, for failing to make Naira notes available through automated teller […]
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 […]
Business
CBN Reforms Support Strong, Resilient African Financial Architecture-Cardoso
The governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says the bank’s reforms align with efforts to establish a stronger and more resilient […]
Business
CBN To Penalise Banks Rejecting Mutilated Naira Notes
The Central Bank of Nigeria (CBN) has threatened to penalise deposit money banks (DMBs) that reject mutilated naira notes. In a statement on Thursday signed […]
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. […]
Business
CBN Limits Dollar Purchase From BDCs
…$10k for school fees, $5k for medical bills The Central Bank of Nigeria (CBN) has placed limits on the foreign exchange (FX) sales by Bureau […]