Why We Extended Old Naira Notes Deadline – CBN
The Central Bank of Nigeria has extended deadline for the swapping of old naira notes, Daily Report Nigeria reports. This was contained in a statement on Sunday by the apex…
Naira Policy: We Have No Idea of Supreme Court’s Order – CBN
The Central Bank of Nigeria, CBN says it has no knowledge of the Supreme Court's rule which rendered the old N200, N500, and N1,000 notes legal tender until December 31.…
Cashless Economy: CBN Announces New Payment Systems
The Central Bank of Nigeria (CBN) has announced guidelines for the use of new Contactless payment systems in the country. Adeyemi Adefuye, the Deputy Director of the Payment System Management…
CBN Limits Daily Contactless Payments to N50k
The Central Bank of Nigeria (CBN) has limited daily contactless payments to fifty thousand naira. The type of payments, the CBN explained were payments made without physical contact between payment…
REVEALED: CBN Owing Over N30 Trillion
The Central Bank of Nigeria has been reportedly indebted to the tune of more than N30 trillion. This was revealed by form CBN Governor and deposed Emir of Kano, Muhammadu…
CBN Reverses Crypto Currency Ban
The Central Bank of Nigeria (CBN) has reversed its ban on crypto assets in the country. The reversal order was contained in a circular dated December 22, 2023, with reference…
CBN Stops Use of Foreign Currency As Collateral For Naira Loans
The Central Bank of Nigeria (CBN) has decided to stop people from using foreign currency as collateral for naira loans. CBN’s Acting Director of Banking Supervision Department, Adetona Adedeji gave…
CBN Approves Financial Aid for Unity Bank, Providus Bank Merger
The Central Bank of Nigeria (CBN) has granted approval for a financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. This move is…
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…