CBN Reports Surge in IMTO Remittances to $600 Million
The Central Bank of Nigeria (CBN) has announced a remarkable increase in remittances from International Money Transfer Operators (IMTOs), reaching approximately $600 million by the end of September 2024. This…
CBN Cracks Down on Fraud with N100,000 Daily Withdrawal Limit on PoS Terminals
The Central Bank of Nigeria (CBN) has imposed a daily withdrawal limit of N100,000 per customer on Point-of-Sale (PoS) terminals, in a bid to promote a cashless economy and curb…
CBN’s Forex Policies Working, Naira Undervalued by 26.35% – Rewane
Bismarck Rewane, Managing Director of Financial Derivatives Company, has expressed confidence in CBN foreign exchange policies, stating they are yielding positive results. Rewane noted that the naira is currently 26.35%…
Domiciliary: No Plan To Convert Currencies — CBN
The Central Bank of Nigeria (CBN) has refuted reports alledging it was planning to convert foreign currencies in the domiciliary accounts of bank customers. In a statement issued, Mr. Osita…
Breaking: Central Bank of Nigeria, Makurdi Branch on Fire
The Central Bank of Nigeria (CBN) at the Makurdi office in the Old GRA area of Benue State, caught fire in the early hours of Thursday, April 21. The fire…
New Naira Notes: Sowore Demands CBN Governor’s Sack
Following the news on re-signing of some naira notes, the presidential candidate of the African Action Congress, Omoyele Sowore, has asked President Muhammadu to sack the Governor of the Central…
Senate Will Debate CBN New Cash Withdrawal Policy Wednesday
The Senate has said it will debate the new cash withdrawal limit policy by the Central Bank of Nigeria (CBN) on Wednesday. The Senate President, Ahmad Lawan, announced this in…
Old Naira Notes: Why We Rejected CBN Deadline Extension – Reps
The House of Representatives has given reason for its rejection of the Central Bank of Nigeria's extension for the swapping of old naira notes. Daily Report Nigeria recalls that the…
Banks Commence Issuing of Old N500, N1,000 Notes to Customers
Some commercial banks across the country have started paying out the old N500 and N1,000 notes to customers. The development is a follow up to the Supreme Court judgment extending…
CBN Speaks on BVN Expiry Date
The Central Bank of Nigeria (CBN) has spoken concerning reports about the expiry date of the Bank Verification Number (BVN). Some previous reports had suggested that the BVN expires after…