CBN Denies Allocating $1.3 Billion for Fuel Importation, Labels Reports “Misleading”
CBN dismisses reports of $1.3 billion allocation for petroleum imports. Says published figures reflect market transactions, not official disbursements. Clarifies that foreign exchange under the “willing buyer, willing seller” system…
Naira Holds Firm at ₦1,475/$ as CBN Boosts Reserves Past $43 Billion
Naira trades at ₦1,475 per dollar on official market amid cautious late-2025 stability. CBN raises reserves above $43bn to sustain FX interventions, tighten BDC supervision. Parallel market rate closes at…
Osun Govt Withdraws Suit Against CBN, AGF Over Withheld LG Funds
• Osun govt says purpose of suit defeated as funds already released • Defendants fault withdrawal grounds, seek sections of affidavit expunged • Court to rule October 29 on discontinuance…
Reps Probe Excessive Bank Charges, Demand CBN Action to Protect Customers
The House of Representatives is investigating reports of arbitrary and excessive bank charges by Nigerian banks, calling for transparency from the CBN. Lawmakers urged the CBN to publish a simplified…
CBN slams N5m fine on illegal agent banking, sets tougher penalties for violators
CBN revises guidelines, imposes N5m minimum fine on unapproved agent banking activities. Entities operating without Super Agent licence risk N10m penalty plus daily charges. CBN warns defaulters will forfeit profits…
CBN bars debtors, blacklisted BVNs from operating as PoS agents
New CBN guidelines disqualify individuals with unpaid debts, blacklisted BVNs, or financial misconduct from becoming PoS agents. Only financially stable and trustworthy operators will be eligible to handle agent banking…
CBN Caps POS Agents’ Daily Transaction Limit at N1.2 Million Nationwide
CBN bank issues fresh agent banking guidelines to tighten regulation. Financial institutions ordered to submit monthly reports to CBN. New circular takes effect immediately, full compliance due by April 2026.…
Nigeria Spends $2.86bn on External Debt Servicing in Eight Months — CBN
Debt servicing consumes 69% of Nigeria’s foreign outflows Payments fell 6.5% from same period in 2024 CBN data shows erratic monthly debt obligations Nigeria spent $2.86 billion on external…
Naira Abuse Driving Printing Costs, CBN Warns
CBN launches nationwide campaign on currency handling Nigerians urged to stop folding, spraying, mutilating notes Apex bank cautions against hoarding ahead of festive season The Central Bank of Nigeria (CBN)…
BREAKING: CBN Slashes Interest Rate to 27% After Months of Tight Policy
CBN monetary Policy Committee reduces rate by 50 basis points in Abuja. CBN Governor says consistent disinflation influenced latest decision. Move follows six consecutive hikes in 2024 and three pauses…