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…
Cardoso Warns Nigerians Against Spraying, Hawking, Mutilating Naira
• Cardoso Governor stresses respect for naira • Financial inclusion and SME growth linked to economic stability • Bank highlights reforms boosting FX inflows and digital transformation The Governor of…
CBN Reforms, Weak Dollar Push Naira to Strongest Level Since March
• Nigerian naira closes at N1,500.91 per USD, marking its best performance since March 5, 2025 • Central Bank of Nigeria’s monetary reforms restore market confidence and improve dollar liquidity…
Naira Records Slight Appreciation Against Dollar at Official Market
The naira strengthened marginally to N1,534.52 against the dollar at the official market on Thursday. Day-to-day gain recorded at 0.3 from Wednesday’s N1,534.83. Black market rate remained unchanged at N1,565…
Nigeria’s Inflation Rate May Drop To Single-Digit By 2022 – CBN
The Central Bank of Nigeria (CBN) has forecasted the country’s inflation rate to drop to 13 percent this year and single-digit by 2022. Hassan Mahmud, director of monetary policy department,…
