CBN mandates multi-factor authentication for foreign card transactions
CBN mandates multi-factor authentication for foreign card withdrawals and online payments above set thresholds. Foreign card transactions to be settled strictly in naira under enhanced monitoring rules Banks, fintechs face…
CBN Revokes Licenses of Aso Savings, Union Homes Plc
CBN revokes licenses of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc due to regulatory breaches. Violations include failure to meet minimum paid-up capital and other…
CBN Approves 82 New BDCs, Warns Against Unlicensed Forex Operators
CBN grants final operating approval to 82 Bureau De Change operators. Licences take effect under the revised 2024 BDC regulatory guidelines. Nigerians urged to verify BDC status and avoid unregistered…
CBN Reviews Cash Withdrawal Rules, Enforces New Fees in January 2026
CBN increases weekly withdrawal limits to N500,000 for individuals, N5 million for corporates. Excess deposit charges removed, but excess withdrawal now attracts new fees. Cash withdrawal rules apply across ATMs,…
CBN Lifts Cash Deposit Limit, Raises Weekly Withdrawal Ceiling to N500,000
CBN removes cash deposit cap and raises weekly withdrawal limit to N500,000 for individuals, N5m for corporates. Excess withdrawal charges set at 3% for individuals and 5% for firms under…
Nigeria’s Foreign Reserves Hit $46.7bn, Highest Since 2018 — CBN
CBN says reserves surge to $46.7bn, backed by stronger oil receipts and investor inflows Naira stabilises, FX market gap narrows below 2% as confidence improves Inflation slows to 16.05%, ratings…
Moghalu Slams Emefiele’s CBN Leadership, Calls His Tenure a Major Setback for Nigeria’s Economy
Kingsley Moghalu says Godwin Emefiele’s CBN tenure weakened the bank’s independence. Ex-deputy governor blames politically driven policies for Nigeria’s economic setback. Naira redesign crisis and corruption charges highlighted as damaging…
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…