Tag: Central Bank of Nigeria
Nigerian Banks Backing Unlicensed Foreign Firms To Be Sanctioned By CBN
The Central Bank of Nigeria has said it will sanction banks assisting the operations of unlicensed foreign firms.
It stated on Monday in its ‘Guidelines...
We Are Still Suppling New Notes To Banks – CBN
With rising concerns around the seeming disappearance of newly redesigned notes, the Central Bank of Nigeria has said it is supplying more quantities of...
CBN Reveals How Bank Deposits Dropped By N210bn In Q1
As Nigerians make huge withdrawals from deposit money banks, the total amount of demand deposits dropped by N210bn between January and March 2023.
Data from...
Embrace e-Naira Transactions, CBN Urges Nigerians
The Central Bank of Nigeria (CBN) has called on Nigerians to embrace the nation’s digital payment channel (eNaira) to enhance its cashless policy.
Its eNaira...
Dormant Account Balances, Unclaimed Funds Now To Be Mopped Up By...
The Central Bank of Nigeria has proposed that banks should transfer funds in accounts that have been dormant for up to 10 years into...
CBN Increases Naira Supply, Orders Banks To Open Weekends
The Central Bank of Nigeria (CBN) has confirmed that it has massively increased the supply of cash to banks.
The CBN on Friday said it...
Reps To CBN: Order Electronic Banking Platforms’ Overhaul
The House of Representatives has urged the Central Bank of Nigeria to direct banks to immediately overhaul their electronic transaction platforms.
According to the House,...
More Naira Notes As Banks Get Old Notes Deposited With CBN...
Reliable sources in the Central Bank of Nigeria, CBN said banks have been instructed to collect the old Naira notes they deposited at the...
Interest Rates Raised To 18% By Emefiele’s CBN
The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 50 basis points to 18....
Group Identifies How CBN’s Cashless Policy Destroyed Businesses
A group, Africa’s Young Entrepreneurs, has said the new naira/cashless policy of the Central Bank of Nigeria has destroyed many businesses.
In an open letter...
